Shopping for crypto was a lot enjoyable when it was going up. Now, many onetime followers are getting out.

This 12 months has introduced disaster after disaster, elevating questions in regards to the business’s long-term prospects. Two main lenders, Voyager Digital and Celsius Community, filed for chapter this summer season. The worth of bitcoin has plunged some 75% from its peak late final 12 months. For some merchants, the latest collapse of the crypto change FTX—which is dragging down different companies—was the final straw.

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