Which cryptocurrency exchanges went bust in 2019- 2023
Several cryptocurrency exchanges went bust in 2022 and 2023 due to various reasons such as market volatility, cyber attacks, and liquidity issues.
Several cryptocurrency exchanges went bust in 2022 and 2023 due to various reasons such as market volatility, cyber attacks, and liquidity issues. Some of the notable bankruptcies include:
FTX: FTX was a Bahamas-based exchange that started the year with a $32 billion valuation and more than a million users. However, it collapsed in November 2022, resulting in bankruptcy and investor losses
Three Arrows Capital (3AC): Three Arrows Capital was a crypto hedge fund that went bankrupt in 2022 due to the collapse of cryptocurrencies Luna and TerraUSD in May. The meltdown wiped out $42 billion in investor value and roiled crypto markets around the world Voyager: Voyager was a crypto exchange that filed for Chapter 11 bankruptcy in January 2022 after failing to sell its assets to FTX. The exchange hoped to move its bankruptcy quickly through the U.S. court system
BGL: BGL was an Australian crypto exchange that filed for voluntary administration in 2022, owing $15 million to creditors
FCoin: FCoin was a Chinese crypto exchange that abruptly ceased operations in February 2020, leaving investors in the dark about the reasons for the shutdown
Cryptopia: Cryptopia was a New Zealand-based crypto exchange that went bankrupt in May 2019, owing $16 million to creditors. The exchange failed to provide any explanation for the shutdown
FTX: FTX was a Bahamas-based exchange that started the year with a $32 billion valuation and more than a million users. However, it collapsed in November 2022, resulting in bankruptcy and investor losses
Three Arrows Capital (3AC): Three Arrows Capital was a crypto hedge fund that went bankrupt in 2022 due to the collapse of cryptocurrencies Luna and TerraUSD in May. The meltdown wiped out $42 billion in investor value and roiled crypto markets around the world Voyager: Voyager was a crypto exchange that filed for Chapter 11 bankruptcy in January 2022 after failing to sell its assets to FTX. The exchange hoped to move its bankruptcy quickly through the U.S. court system
BGL: BGL was an Australian crypto exchange that filed for voluntary administration in 2022, owing $15 million to creditors
FCoin: FCoin was a Chinese crypto exchange that abruptly ceased operations in February 2020, leaving investors in the dark about the reasons for the shutdown
Cryptopia: Cryptopia was a New Zealand-based crypto exchange that went bankrupt in May 2019, owing $16 million to creditors. The exchange failed to provide any explanation for the shutdown