Net worth of CZ fell 93% while 10 crypto moguls lost billionaire status in 9 months: Report
For the crypto world, 2022 has been a tumultuous and eventful year with multiple high-profile bankruptcies, record-high scams, and frauds.Amid the shockwaves of the Terra-Luna fiasco, a slew of bankruptcies followed, starting with Three Arrows Capital (3AC), Voyager Digital, and Celsius. SBF continued to move among the elite political circles in Washington — being the second largest donor in US President Joe Biden’s presidential campaign — lobbying for crypto regulation. Months later, on Nov. 11, FTX declared bankruptcy, and revelations about customer funds mismanagement led to SBF’s arrest in the Bahamas and extradition to the US on Dec. 21. Around $2 trillion was eroded from the cryptocurrency market cap throughout the year.
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