Cryptoverse: Bye-bye to the year that broke bitcoin

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Reuters

By Tom Wilson, Medha Singh and Lisa Pauline Mattackal (Reuters) – Bitcoin staggered into 2022. It ends the year slumped in an alleyway, robbed of its cocktail of cheap money and leveraged bets, shunned by the establishment. The preeminent cryptocurrency has lost 60% of its value, while the wider crypto market has shrunk by $1.4 trillion, squashed by rising interest rates, vanishing risk appetite and corporate collapses including Sam Bankman-Fried’s FTX. Crypto funds have seen net inflows of $498 million in 2022, versus $9.1 billion in 2021, according to data from digital asset manager CoinShar…

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