Crypto’s boom and bust were driven by the same plague that has turned the entire finance industry into a shady casino. So it’s no tragedy if the speculators take a break in 2023.
Coming off euphoric highs of the year before, the crypto market has endured an environment of tightening monetary policy, which led to sell-offs, implosions of projects like Terra, bankruptcy filings of CeFi companies including Celsius Network and Voyager Digital and the climactic downfall of the FTX exchange.