Cryptocurrency companies aim to build trust in future products and services According to Cointelegraph

The crypto ecosystem has experienced a tumultuous year in 2022. Criticism inside and outside the crypto industry has been spurred by the collapse of FTX, Celsius, Three Arrows Capital, and the system. Ecological.

Several losses have been recorded from these events. Blockchain analytics firm Chainalysis released a report last December, noting that reduce the value of Terra’s stablecoin, Terra USD Classic (USTC), witnessed Highest weekly realized loss at $20.5 billion. Further findings revealed that the subsequent collapse of Three Arrows Capital and Celsius in June 2022 saw weekly realized losses amounting to $33 billion.