• Losses occurred in stablecoins such Binance USD and USD Coin.
• Cardano and Solana lost ground in terms of price.
• Neo Coin and Elrond both made modest gains.

As cryptocurrency prices decline and expose faults in hazardous financial techniques that powered the current crypto and NFT bubble, FTX is just the latest startup facing an uncertain future.
One Bitcoin would cost you around $46,000 on January 1st, 2022. The same coin sold for nearly $18,500 on November 8th. 

The collapse of the FTX exchange, which brought about yet another wave of existential threats to the crypto industry as a whole, was also at that point the year's most dramatic crypto story.

Sam Bankman-Fried, a co-founder of FTX, was detained on December 12 in the Bahamas and will be prosecuted in the US.

For cryptocurrency, this year has appeared to be death by a thousand scandals. There was the Luna/Terra crash, which virtually overnight destroyed billions of dollars' worth. The once-popular NFT game Axie Infinity suffered a hack that cost them $625 million, and it has been difficult to bounce back. 

Celsius shattered. Four Arrows Capital failed. Remember the days when JPGs were valued in the millions and NFTs were hip? All of this naturally occurred when the economy as a whole started to slow down following a stock price surge brought on by the pandemic, which also reduced society's tolerance for disorderly, absurd online gambling. 

Cryptocurrency turned becoming a risky bet for many investors as the economy started to stabilise and our collective risk appetite decreased. The HODLers continue to claim that there is still upside in cryptocurrency despite previous crashes. But as of now, it seems like there isn't much hope for cryptocurrencies of any kind. 

The recent decline in cryptocurrency values, which exposed weaknesses in hazardous financial tactics that powered the recent crypto and NFT bubble, has left a number of companies, including FTX, facing an unclear future.