The year crypto broke: How customers, investors lost millions and what's being done

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The major crash of the crypto market last year brought headaches, fear and anger to millions of people who invested their savings. Here's a closer look at the chaos throughout the industry.

Former FTX Chief Executive Sam Bankman-Fried passes through security on the day of a hearing at Manhattan federal court in New York City, Jan. 3, 2023.At the start of 2022, the Super Bowl featured celebrities like Tom Brady, Larry David and Matt Damon in commercials for crypto companies. Logos for crypto companies like FTX could be seen plastered on multiple sports arenas and a new wave of crypto influencers emerged, garnering hundreds of thousands of followers. Cryptocurrency was everywhere.

"Impact x Nightline" takes a closer look at the chaos throughout the industry, speaking with executives at some of the biggest crypto companies, top officials at regulatory agencies, and the regular customers who suffered from the collapse. This episode is"Crypto kind of rose out of the 2008 financial crisis," David Yaffe-Bellany, a New York Times reporter who covers crypto, told "Impact.

Celsius was founded by Alex Mashinsky and two partners in 2017. Mashinsky used social media to promote his company and its high-yield crypto earnings. "I'd like to stay optimistic and think that I'll get at least a significant portion of it back," Dell said of his investment. "I don't think anybody really knows."

 

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I tried to warn everyone. Real money advice :

What ?

wait.... you mean fake money is actually fake?

Easy to understand

A fool and his money were lucky to get together in the first place. Gordon Geko. Wall Street. True then. Still true clearly

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