Chainalysis data shows that the collapse of Celsius and Three Arrows Capital (3AC) and Terra’s Luna de-peg inflicted much bigger losses on investors than the FTX crash.
The TerraUSD de-peg had a realized loss of $20.5bn while Celsius and 3AC amounted to a staggering $33bn. By comparison, FTX recorded losses for investors of just £9bn.
It is to be hoped that such egregious and disastrous losses will now forever be a thing of the past for investors. However, given that there are still a few big players trying to stay afloat, future stability for the crypto market looks far from certain.
For those who are still in the crypto market because of the incredible innovation it has produced and perhaps the safety raft that bitcoin can still provide, this will likely be the case no matter what.