Bitcoin

has lost nearly two-thirds of its value, falling from above $45k to slightly above $15k following the terraUSD and FTX scandals.

• TerraUSD (UST), an algorithmic stablecoin, and its sister token Luna, once worth a combined $60 billion in market cap, collapsed entirely; with Terraform Labs founder Do Kwon going into hiding in Serbia, according to South Korean officials who charged crypto-fugitive Kwon with fraud and breaches of South Korea’s capital markets law.

• Sam Bankman-Fried’s (SBF) crypto exchange FTX filed for bankruptcy with SBF fleeing to the Bahamas, before he was charged by US regulators of carrying out a multi-year scheme to defraud investors and was extradited to the US. SBF was bailed on a $250 million bond and is awaiting trial.