How Crypto Has Become Vulnerable to Problems of Traditional Finance By Douglas Arner, Dirk A. Zetzsche, Ross Buckley and Jamieson M. Kirkwood May 30, 2023 by Douglas Arner The year 2022 was an annus horribilis for the crypto ecosystem. The combination of the collapse of the FTX group,[1] the failure of Terra’s UST stablecoin,[2] 3AC’s bankruptcy,[3] and crypto losing $2 trillion in market value became …