Let’s state the obvious here: 2022 was not a good year for digital assets.
From the Terra Luna collapse, the Celsius and Three Arrows Capital bankruptcies, to the FTX implosion in November — the list was long. The end of Sam Bankman-Fried’s empire created a contagion effect especially felt by crypto exchanges, like publicly traded Coinbase. In early January, the exchange settled with New York regulators who accused it of “significant” compliance program failings.
