Will cryptos sink or swim?

2022 was a rollercoaster year for DeFi. Tokens crashed in value, companies came to grief, regulatory crackdowns occurred, and even a few arrests were made. According to the US Commodities Futures Trading Commission (CFTC), more than $8 billion of FTX customer funds are still missing. Sam Bankman-Fried, FTX's founder and once worth over $20 billion, officially filed for bankruptcy protection whilst being charged with eight counts of fraud. Cryptocurrencies had been fledgling in the earlier parts of the year but with the news of the crashes of platforms such as FTX and crypto-lender, Celsius, it appeared that crypto was permanently doomed.

The following gives a rundown of some of the disasters that happened in crypto in 2022:

·      the cryptocurrency market hit a market cap of over $3 trillion before falling to around $840 billion by 28 December 2022, according to Statista;

·      Bitcoin fell from an all-time high of $68,000 to $17,258 as of 22 December 2022;

·      Ethereum dropped in va…