The implosion that shook crypto to its core
Fear & Greed
Extreme Fear
Bitcoin Price
$15,800
30-Day Change
-27%
What Happened
The FTX collapse in November 2022 was the crypto industry's Lehman Brothers moment. Within a week, the $32 billion exchange went from apparent strength to bankruptcy after CoinDesk revealed that Alameda Research's balance sheet was largely composed of FTT tokens. The resulting bank run, failed Binance acquisition attempt, and criminal charges against Sam Bankman-Fried sent shockwaves through the entire crypto ecosystem. Bitcoin fell to $15,500, contagion spread to BlockFi, Genesis, and others, and regulatory scrutiny intensified globally. The Fear & Greed Index hit 20, deep in Extreme Fear territory, as confidence in the entire crypto industry cratered.
Key Narratives