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Ethereum also tanked, and solana, winter earlier this year turned developers and touted by Bankman-Fried, to short Tesla.

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Celsius customers alone lost $5 billion, and the firm's collapse sent tremors across the digital currencies market, tanking the price of Bitcoin. Cryptocurrencies as a whole have lost more than $2 trillion in paper value in the past year. The Maryland man is also one of thousands of Black. Around 80 percent of global investors are likely to have lost money on their cryptocurrency investments, says a study, as the market reels.

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Oh, and Happy ! Turn on desktop notifications for breaking stories about interest? The prototypical face of crypto is young, white, techy, and male, but perhaps no other demographic group has been harder hit by the crypto bust than Black Americans, who are half as likely to own stocks as their white counterparts but significantly more likely to own cryptocurrencies. But also increasingly trapped are NFTs , or non-fungible tokens, which might be digital art, a collectible, music or something else. Nguonly continues to keep some money invested in cryptocurrency, but sticks to historically more established tokens like bitcoin and ethereum versus the more volatile altcoins.