Financial TimesFinancial Times

What this year in crypto has taught us

By Jemima Kelly

22 Dec 2022 · 3 min read

Editor's Note

The implosion of the crypto market has taught us a lot, writes the FT's Jemima Kelly. While there's little to inspire confidence in the asset class, it does have a "strange resilience", she says.

At various points over 2022 — particularly since the collapse of the terra/luna ecosystem in May, and then the FTX exchange in November — people have suggested I take some sort of virtual victory lap for calling out, over several years, the steaming pile of horse manure that is crypto.

And I guess I do feel a certain sense of vindication at seeing the market start to implode, having stood my ground against numerous crypto bros telling me to “have fun staying poor”. But I have been reluctant to write an “I told you so”, because I’m not sure that I really did.

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