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2022 Year in Review - FedWatch 125

Bitcoin Magazine Podcast

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The Impact of Bitcoin and Cryptocurrency Blowups

I think the Terra thing had a massive institutional impact and then obviously these fiat institutions, they're still operating in the crypto realm with Bitcoin and other crypto assets. So Terra blows up, all of them are underwater; Celsius is even more drastic because that's one of the 20%, that's effectively gaining yield off DeFi schemes. And then next is FTX, which is almost kind of like, it's a combination of Terra and Celsius,. It affects retail and institutions massively and they're all intertwined. But you know, the entire period where Bitcoin is consolidating after Terra and Celsius, FTX with their FTT token is kind of absorbing a lot of that negative pressure.

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