Investor sentiment has always been a critical driver in the crypto space. Both positive and negative sentiment influence ongoing trends — be they price movements, product launches or regulations. In 2022, sentiment worldwide suffered as major crypto firms and ecosystems collapsed, further straining investors amid an unforgiving bear market.
While many showed resilience as Terraform Labs, Celsius and Voyager, among others, closed down, Sam Bankman-Fried’s alleged misappropriation of FTX customers’ funds drove even the most die-hard crypto investors to question the integrity of those running the show.
A series of scams, crashes, bankruptcy filings and court cases have forced investors to rethink how they store crypto and seek accountability from crypto exchanges. Proof of reserves (PoR) became the de facto standard adopted widely among crypto exchanges to