Cryptocurrencies have been falling since November 2021, in line with the stock market's downturn on the back of the general risk-off mode. These declines were nothing new or alarming, as crypto is notoriously volatile; many have seen the declines as an easy entry point. However, the mood has changed after the crash of FTX and the still-ongoing harm it has induced. What’s even worse than billions of dollars disappearing overnight is that FTX’s demise, with its contagion across the digital currency markets, has shattered the general public’s confidence in all things crypto. Crypto’s “Lehman" Moment? Investors in cryptocurrencies have lost billions of dollars since FTX started wobbling at the beginning of November.
