As we know, the numerous crashes and layoffs, and halting of withdrawals that the crypto world has seen in 2022 alone, have resulted in creating a diary for the crypto space! To look back into all that took place in the crypto world in 2022; here is a recap of the crypto crash series.
Binance’s Changpeng Zhao, amid the crumbling FTX collapse came out with the term ‘Proof of Reserves’ – essentially claiming that crypto exchanges should come out with proof-of-reserves on a regular basis.
The Securities Commission of The Bahamas also referred to as SCB said that as a step, SCB had ordered the transfer of all digital assets of FTX Digital Markets (FDM) to a digital wallet that is owned by the commission on November 12, 2022.
The crypto bear market has been raging on ever since…
In all of the incidents that the crypto space saw in 2022 including the FTX Collapse, CoinDCX had zero exposure.” The customer funds are left as it is coupled with the $100 million insurance from BitGo.
Trust Wallet Token has suddenly jumped into the spotlight after Binance’s CZ backed the wallet app to raise awareness amid the FTX collapse.
Introduction The massive rally of 2021 has attracted many to…
Crypto traders throng to DEXs in the wake of FTX collapse. Uniswap becomes the second largest crypto exchange for Ethereum trading
Solana-based NFTs took a massive hit of 68% price drop which brought its valuation from $ 424 million to $ 135 million in a matter of days. The massive drop in price for Solana’s NFT is due to FTX’s advocacy for the Solana layer 1 solution.
Following the declaration of bankruptcy, few days after the FTX exchange had halted withdrawals for over a week, several state and federal agencies launched or expanded their investigations further into the company. The agencies looking into the matter includes the U.S. Department of Justice and more.
After the FTX crypto exchange collapse, and now the assets of FTX CEO, Sand Bankman Fried stand at zero from a whopping $16 billion last week!
KEY TAKEAWAYS: Binance crypto exchange’s crypto token, BNB has been…
