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Cryptocurrency market loses $1.4T in 2022

Cryptocurrency market loses $1.4T in 2022

ArabFinance: The global cryptocurrency market has lost over $1.4 trillion in 2022, CNBC reported on November 22nd.

Bitcoin, the most prominent cryptocurrency in the market, reached its lowest level in two years on November 22, amounting to $15.480 per unit.

The entire crypto world has been shocked after the dramatic collapse of the FTX cryptocurrency exchange.

Early in November, FTX filed for bankruptcy protection in the US after its founder and CEO, Sam Bankman-Fried, stepped down.

Reports showed that FTX owes its 50 biggest creditors around $3.1 billion.

 

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