The crypto market bears the scars of FTX’s collapse

The founder of the collapsed FTX crypto exchange, Samuel Bankman-Fried, is standing trial in New York on fraud and conspiracy charges. FTX’s collapse in 2022 was one in a series of industry implosions that significantly impacted the global cryptocurrency market, causing a substantial loss of value in Bitcoin and other major tokens. The market, shaken by these collapses, is now exhibiting reduced crypto prices, decreased trading volumes, and fewer venture capital investments.