Crypto Winter 2022
On November 9, 2022, FTX — one of the world's largest crypto exchanges — collapsed in 72 hours as its FTT token imploded and $6 billion in withdrawals overwhelmed its reserves. Founder Sam Bankman-Fried was later convicted of fraud.
Was This Written in the Numbers?
Universal Year 6 calls systems back to responsibility. Financial disruptions in 6 years often arise from failures of care — negligence, fraud, or systemic irresponsibility that finally demands accountability.
What the Numbers Said
Bitcoin fell to $15,500. Total crypto market cap dropped from $3 trillion to under $1 trillion. Contagion spread to BlockFi, Genesis and Celsius. Regulatory pressure on the crypto industry intensified globally.
Opacity and leverage are the enemies of trust. When confidence in a custodian collapses, speed of withdrawal is everything — and the last ones out lose most.