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What to tell your family about what happened in crypto this year From Cointelegraph

After a lackluster crypto rise in 2021 that saw many new crypto millionaires and several crypto startups attain unicorn status, 2022 saw a dramatic decline. The industry has been plagued by macroeconomic pressures, scandals and meltdowns that wiped out fortunes virtually overnight.

As 2022 draws to a close, many crypto advocates are at a loss as to the state of the industry, especially given the recent FTX meltdown and the contagion it caused, which has brought several related firms to a halt.

The downfall was universal, but crypto turned it into a contagion

SBF handcuffed during his extradition to the US Photo: Royal Bahamas Police

Centralized exchanges and coins may come and go, but they are here to stay

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The final result

Read more on Coin Telegraph

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