Regulation

One Year After FTX Imploded, Here’s How Crypto Is Changing

  • ‘The worst day of my career’: fund manager on FTX freeze
  • VC deals plunging, DeFi gaining a year after epic collapse
Sam Bankman-Fried departs court in New York, in 2022.Photographer: Stephanie Keith/Bloomberg
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For many who trade cryptocurrencies for a living, the events of a year ago are forever etched in memory.

“The worst day of my career, and one of the worst days of my life — the day FTX froze withdrawals,” is how Travis Kling, who runs Ikigai Asset Management, described it in a series of tweets on Nov. 7. Four days later, Sam Bankman-Fried’s exchange filed for bankruptcy, ushering in arguably the darkest days in crypto’s history.