FTX’s collapse resulted in round $9 billion in realized losses for crypto traders, in keeping with a Chainalysis report.
Chainalysis famous that this loss paled in comparison with Terra’s UST depeg, which triggered a lack of $20.5 billion. The implosion of crypto companies like Celsius and Three Arrows Capitals led to $33 billion in realized losses.
In keeping with Chainalysis, weekly realized loss and achieve are calculated based mostly on the worth of belongings in a pockets on the time they have been acquired minus the worth of the portion of the belongings transferred from the pockets on the time of recording the info.
Whereas the switch of belongings from a pockets doesn’t essentially indicate a sale, it offers an perception into how these occasions affected traders. The information reveals that many traders had already misplaced considerably extra worth earlier than the FTX crash.
Nonetheless, the info doesn’t account for individuals who misplaced their deposits on the FTX alternate.
CryptoSlate reported that realized Bitcoin (BTC) losses reached a yearly excessive of $4.3 billion following FTX’s collapse.
Stories revealed that over a million collectors have been affected by the FTX collapse, with at the least $8 billion in lacking funds. The crypto alternate founder Sam Bankman-Fried was arrested within the Bahamas and confronted felony fees in the USA.