By Olga Kharif | Bloomberg,
The history of cryptocurrencies has rarely been dull, but the latest meltdown delivered a series of shocks that shook the foundations of digital assets. A cascade of blowups, including the collapse of a so-called stablecoin in May and the epic unravelling of the FTX crypto exchange in November, left a wave of bankruptcies. The events eroded the trust of more mainstream investors who were eager to capitalize on rising interest in Bitcoin and the vision of decentralized finance. The turmoil has prompted calls for regulators to move more urgently to protect consumers.
1. What happened to crypto prices?
After peaking in November 2021, crypto assets suffered a $2.2 trillion wipe-out in the following 12 months, wi…
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