Close Menu
  • Crypto News
    • News
    • Bitcoin
    • Blockchain
    • BNB
    • Dogecoin
    • Ethereum
    • Litecoin
    • Meme Coins
    • Solana
    • Toncoin
    • XRP
  • Business
  • Markets
  • Regulation
  • Guides
  • Press Release
What's Hot

Metaplanet’s $5 Billion Capital Fuels Bitcoin Strategy

June 27, 2025

The COIN Act: Can This Bill Stop Trump’s Digital Cash Flow?

June 27, 2025

Polymarket NYC Mayor Betting Sees Big Jump As Scandals Unfold

June 27, 2025
Facebook X (Twitter) Instagram
  • About Us
  • Contact Us
  • Terms of Service
  • Privacy Policy
X (Twitter) Telegram
Crypto Junction
  • Crypto News
    • News
    • Bitcoin
    • Blockchain
    • BNB
    • Dogecoin
    • Ethereum
    • Litecoin
    • Meme Coins
    • Solana
    • Toncoin
    • XRP
  • Business
  • Markets
  • Regulation
  • Guides
  • Press Release
Crypto Junction
Home » Crypto’s Rocky 2022: After FTX’s Collapse, Is Bitcoin Down for the Count?
Crypto

Crypto’s Rocky 2022: After FTX’s Collapse, Is Bitcoin Down for the Count?

Karly MarieBy Karly MarieDecember 17, 2022Updated:March 13, 20253 Mins Read
Twitter Telegram Copy Link Pinterest LinkedIn Facebook Reddit
Share
Twitter Telegram Facebook Pinterest Copy Link

The cryptocurrency industry, once seen as an unstoppable force challenging traditional finance, has taken some of the hardest hits in its history. The collapse of FTX—the world’s second-largest crypto exchange—sent shockwaves through the market, wiping out billions and shaking investor confidence.

With Bitcoin’s price dropping from nearly $70,000 in late 2021 to below $18,000 in 2022, and multiple crypto giants facing financial ruin, many are wondering: Is this the end of crypto’s golden age, or just another brutal round in its fight for legitimacy?

FTX’s Collapse: The Knockout Punch?

The downfall of FTX was one of the biggest financial scandals of the year. Once hailed as a pillar of stability in the volatile crypto world, the exchange collapsed within days, exposing massive financial mismanagement.

Sam Bankman-Fried, the company’s founder, was arrested in the Bahamas and faces fraud charges in the US. Authorities allege he built “a house of cards on a foundation of deception,” misleading investors while portraying FTX as a safe haven in crypto.

With billions in customer funds missing, FTX’s bankruptcy has left a gaping hole in the crypto ecosystem. Bloomberg reports that FTX’s advisers are struggling to locate the firm’s assets, raising concerns that many creditors may never be repaid.

Blow After Blow: 2022’s Other Crypto Catastrophes

FTX’s collapse wasn’t the only disaster to rock the industry. The year was riddled with scandals, hacks, and financial implosions:

  • Terra Luna’s Crash (May 2022): The sudden failure of Terra Luna and its stablecoin UST erased $60 billion in market value, sending shockwaves through the crypto world. Do Kwon, Terra’s founder, is now a fugitive wanted by South Korean authorities.
  • Bitcoin’s Price Drop: Once soaring at $69,000, Bitcoin’s value plummeted by over 70%, reaching lows of $16,000.
  • Major Crypto Bankruptcies: Celsius, Three Arrows Capital, and BlockFi—firms once at the heart of crypto lending—collapsed, leaving investors with massive losses.
  • Massive Hacks: Cybercriminals stole over $600 million from the Ronin Network in one of the largest crypto heists in history.
  • Celebrities and Crypto Scandals: Even Kim Kardashian faced consequences, paying a $1.26 million fine for promoting a controversial crypto coin without disclosing she had been paid.

The wave of failures has severely undermined trust in the crypto industry, leading many to question whether digital currencies have a future.

A Crypto Comeback or a Final Curtain?

Despite the chaos, crypto’s most ardent supporters argue that this is just another cycle in Bitcoin’s history. Andy Renshaw, an expert in financial technology, believes that without a reliable network of exchanges, crypto’s survival is at risk. Others, like Columbia Business School’s Omid Malekan, suggest that while speculation may be fading, the technology itself remains strong.

Some experts point to crypto’s continued use in developing countries and humanitarian efforts. In regions with unstable banking systems, Bitcoin and stablecoins have provided financial access to millions. Crypto has also enabled charities to send funds to conflict zones where traditional banking systems fail.

Prof. Carol Alexander of the University of Sussex believes crypto is evolving rather than dying. “This could be a chance to purge scammers and grifters,” she says, emphasizing the potential of blockchain in industries beyond finance.

What Lies Ahead?

The future of crypto remains uncertain. Regulators worldwide are tightening controls, investors are more cautious, and exchanges are under scrutiny. Yet, despite past crashes, Bitcoin has always found a way to recover.

The coming months will determine whether the crypto industry can rebuild trust or if 2022 was the beginning of its end. One thing is certain: crypto is down, but whether it’s out remains to be seen.

Bitcoin Price Drop blockchain future Crypto investments crypto market analysis Cryptocurrency crash 2022 FTX bankruptcy
Share. Telegram Twitter LinkedIn Pinterest Facebook Reddit Copy Link
Karly Marie
Karly Marie

Related Posts

Ethereum Price Drop Triggers Biggest ETF Outflow Yet

June 25, 2025

CoinMarketCap Security Breach Triggers Wallet Scam Alert

June 25, 2025

Nakamoto Bitcoin Treasury Expansion Hits Record $51.5M

June 25, 2025

Bloomberg Altcoin ETF Approvals Soar To 90% Odds

June 25, 2025
Trending Posts

XRP Leads November Crypto Bull Run With a 169% Gain, Outshining Bitcoin

September 15, 2021

GD Culture Group Risks It All for Memecoin

May 14, 2025

Etoro Shares Hit $4.3B Valuation

May 14, 2025

Subscribe to Updates

Get the latest sports news from SportsSite about soccer, football and tennis.

Crypto Junction, founded in 2014, is one of the original and most trusted sources for cryptocurrency news and blockchain insights. We provide accurate, unbiased, and timely coverage of digital assets, market trends, and industry developments.

All content on Crypto Junction is for informational and educational purposes only and should not be considered financial, investment, or legal advice. Cryptocurrency investments are highly volatile and carry risks. Always conduct your own research before making financial decisions.

We're social. Connect with us:

X (Twitter) Telegram
Top Insights

Metaplanet’s $5 Billion Capital Fuels Bitcoin Strategy

June 27, 2025

The COIN Act: Can This Bill Stop Trump’s Digital Cash Flow?

June 27, 2025

Polymarket NYC Mayor Betting Sees Big Jump As Scandals Unfold

June 27, 2025
ABOUT
  • About Us
  • Cookie Policy
  • Editorial Policy
  • Investment Disclaimer
  • Press and Media Kit
  • Terms of Service
  • Affiliate Disclosure
  • Contact Us
NEWSLETTER

Subscribe to Updates

Get the latest crypto news and updates direct to your inbox - we don't spam

X (Twitter) Telegram
  • Altcoin News
  • Bitcoin News
  • Dogecoin News
  • Ethereum News
  • Litecoin News
  • Meme Coin News
  • Solana News
  • XRP News
© 2025 Crypto Junction

Type above and press Enter to search. Press Esc to cancel.

bitcoin
Bitcoin (BTC) $ 107,273.74
ethereum
Ethereum (ETH) $ 2,421.69
tether
Tether (USDT) $ 1.00
xrp
XRP (XRP) $ 2.19
bnb
BNB (BNB) $ 644.77
solana
Solana (SOL) $ 143.42
usd-coin
USDC (USDC) $ 1.00
tron
TRON (TRX) $ 0.273479
dogecoin
Dogecoin (DOGE) $ 0.161951
staked-ether
Lido Staked Ether (STETH) $ 2,420.05
cardano
Cardano (ADA) $ 0.560363
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 107,120.70
hyperliquid
Hyperliquid (HYPE) $ 36.80
bitcoin-cash
Bitcoin Cash (BCH) $ 502.62
wrapped-steth
Wrapped stETH (WSTETH) $ 2,916.95
sui
Sui (SUI) $ 2.70
chainlink
Chainlink (LINK) $ 13.15
leo-token
LEO Token (LEO) $ 9.07
stellar
Stellar (XLM) $ 0.23827
avalanche-2
Avalanche (AVAX) $ 17.61
usds
USDS (USDS) $ 0.999949
the-open-network
Toncoin (TON) $ 2.85
shiba-inu
Shiba Inu (SHIB) $ 0.000011
whitebit
WhiteBIT Coin (WBT) $ 46.34
weth
WETH (WETH) $ 2,420.54
litecoin
Litecoin (LTC) $ 85.21
wrapped-eeth
Wrapped eETH (WEETH) $ 2,591.23
binance-bridged-usdt-bnb-smart-chain
Binance Bridged USDT (BNB Smart Chain) (BSC-USD) $ 1.00
hedera-hashgraph
Hedera (HBAR) $ 0.145991
monero
Monero (XMR) $ 309.46
bitget-token
Bitget Token (BGB) $ 4.71
ethena-usde
Ethena USDe (USDE) $ 1.00
polkadot
Polkadot (DOT) $ 3.36
coinbase-wrapped-btc
Coinbase Wrapped BTC (CBBTC) $ 107,184.72
pi-network
Pi Network (PI) $ 0.553935
uniswap
Uniswap (UNI) $ 6.88
aave
Aave (AAVE) $ 257.29
pepe
Pepe (PEPE) $ 0.000009
dai
Dai (DAI) $ 1.00
ethena-staked-usde
Ethena Staked USDe (SUSDE) $ 1.18
aptos
Aptos (APT) $ 4.87
okb
OKB (OKB) $ 50.31
blackrock-usd-institutional-digital-liquidity-fund
BlackRock USD Institutional Digital Liquidity Fund (BUIDL) $ 1.00
bittensor
Bittensor (TAO) $ 322.56
near
NEAR Protocol (NEAR) $ 2.11
jito-staked-sol
Jito Staked SOL (JITOSOL) $ 173.80
internet-computer
Internet Computer (ICP) $ 4.75
crypto-com-chain
Cronos (CRO) $ 0.080441
ethereum-classic
Ethereum Classic (ETC) $ 16.15
susds
sUSDS (SUSDS) $ 1.06
ondo-finance
Ondo (ONDO) $ 0.747118
tokenize-xchange
Tokenize Xchange (TKX) $ 27.77
usd1-wlfi
USD1 (USD1) $ 1.00
mantle
Mantle (MNT) $ 0.595682
kaspa
Kaspa (KAS) $ 0.074582
fasttoken
Fasttoken (FTN) $ 4.41
gatechain-token
Gate (GT) $ 15.53
official-trump
Official Trump (TRUMP) $ 9.02
cosmos
Cosmos Hub (ATOM) $ 3.94
vechain
VeChain (VET) $ 0.020512
fetch-ai
Artificial Superintelligence Alliance (FET) $ 0.670354
lombard-staked-btc
Lombard Staked BTC (LBTC) $ 107,296.75
sky
Sky (SKY) $ 0.079187
render-token
Render (RENDER) $ 3.21
sei-network
Sei (SEI) $ 0.294578
polygon-ecosystem-token
POL (ex-MATIC) (POL) $ 0.174997
ethena
Ethena (ENA) $ 0.253255
quant-network
Quant (QNT) $ 105.30
algorand
Algorand (ALGO) $ 0.174767
arbitrum
Arbitrum (ARB) $ 0.303576
jupiter-perpetuals-liquidity-provider-token
Jupiter Perpetuals Liquidity Provider Token (JLP) $ 4.38
filecoin
Filecoin (FIL) $ 2.20
first-digital-usd
First Digital USD (FDUSD) $ 0.998594
binance-peg-weth
Binance-Peg WETH (WETH) $ 2,422.05
worldcoin-wld
Worldcoin (WLD) $ 0.877008
usdtb
USDtb (USDTB) $ 1.00
kucoin-shares
KuCoin (KCS) $ 11.11
binance-staked-sol
Binance Staked SOL (BNSOL) $ 151.89
usdt0
USDT0 (USDT0) $ 1.00
jupiter-exchange-solana
Jupiter (JUP) $ 0.410594
nexo
NEXO (NEXO) $ 1.20
flare-networks
Flare (FLR) $ 0.017081
rocket-pool-eth
Rocket Pool ETH (RETH) $ 2,757.00
kelp-dao-restaked-eth
Kelp DAO Restaked ETH (RSETH) $ 2,534.50
spx6900
SPX6900 (SPX) $ 1.19
bonk
Bonk (BONK) $ 0.000013
polygon-bridged-usdt-polygon
Polygon Bridged USDT (Polygon) (USDT) $ 1.00
injective-protocol
Injective (INJ) $ 10.55
kaia
Kaia (KAIA) $ 0.175345
fartcoin
Fartcoin (FARTCOIN) $ 1.02
blockstack
Stacks (STX) $ 0.657464
binance-bridged-usdc-bnb-smart-chain
Binance Bridged USDC (BNB Smart Chain) (USDC) $ 1.00
celestia
Celestia (TIA) $ 1.45
sonic-3
Sonic (S) $ 0.305249
paypal-usd
PayPal USD (PYUSD) $ 0.99981
xdce-crowd-sale
XDC Network (XDC) $ 0.059578
virtual-protocol
Virtuals Protocol (VIRTUAL) $ 1.45
optimism
Optimism (OP) $ 0.535472
pax-gold
PAX Gold (PAXG) $ 3,296.47
mantle-staked-ether
Mantle Staked Ether (METH) $ 2,584.24