Although the crypto community has had a rough year, keep in mind that all of these issues were due to mistakes and bad judgement by centralized companies rather than an inherent problem with digital currency technology.
For example, this summer’s collapses of crypto lenders
Celsius and
Three Arrows Capital, which caused about a
33B euro collapse , were largely due to their balance sheet being over leveraged and dependent on outside companies for their success.
When the large crypto project
LUNA and its Stablecoin
TERRA LUNA collapsed in May they brought down the entire crypto market, as well as caused the bankruptcy of a few exchanges including
Voyager.
These problems are not native only to crypto - they occur in stock markets and various industries all around the world
Despite all of these events, interest in digital currencies is still increasing rapidly among both retail and institutional investors.
