The Graphic Truth: Crypto's annus horribilis
December 26, 2022
Crypto bros can't wait for 2022 to be over. The year kicked off with cryptocurrencies riding the wave of the global post-pandemic economic boom. But then Russia's war in Ukraine upended global markets and worsening inflation prompted central banks to start hiking rates, which slashed investors' appetite for risk. What's more, a string of scandals — mainly the collapses of the TerraUSD stable coin and the FTX crypto exchange — undermined overall trust in crypto, leading to the worst annual performance in the industry's history. We track how Bitcoin and Ethereum, which together accounts for more than half of global crypto transactions, have traded since the beginning of the year.