Archive 2022: Economy

FTX Collapse

The collapse of Sam Bankman-Fried's FTX was the biggest in string of big crypto-related failures this year. It sparked a cryptocurrency rout and has left an estimated 1 million creditors facing losses of billions of dollars.

The collapse of FTX, the cryptocurrency exchange founded by Sam Bankman-Fried, was a significant event in the cryptocurrency market in 2022 and its aftermath had significant financial consequences, making it a noteworthy news to be considered for archiving in the Web3 Archive 2022.