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The second quarter of 2022 might go down as one of the worst in crypto’s history.
In May, the collapse of the Terra ecosystem set off a domino effect felt harshly across an industry that had already been buffeted by inflation and other macroeconomic forces. Soon, forced selling and liquidity issues began to take a toll on both whales and everyday investors.
By early June, Celsius Network, one of the largest crypto lenders, paused its withdrawals and soon faced rumors of bankruptcy. Afterward came reports concerning the crypto hedge fund Three Arrows Capital (3AC), fueling fears of contagion and systemic risk.
Overall, the crypto space is facing its “first large-scale credit crisis,” Lucas Outumuro, head of research at IntoTheBlock, wrote Friday in his newsletter.
“[I]nstitutions led by their risky practices thrived during the bull market, but were exposed as...
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...