The promise of digital assets is to decentralize finance. Yet in 2022, investors in decentralized technologies lost billions of dollars as the global market cap of all cryptocurrencies fell by 64.1% to $829 billion.
Increased interest rates and the collapse of the unregulated algorithmic-stablecoin, “TerraUSD” precipitated this downtrend. TerraUSD’s failure eliminated $60 billion of