Best and worst of crypto 2022

It’s been a bumpy year, not least in crypto. Please don’t ask us how many times we have been asked the question “so how is it to work in crypto now”?! With crashes like Luna, 3AC, Celsius and the collapse of FTX, 2022 has made its mark in the crypto history books and people have definitely not been out of topics to talk about during family dinners anymore. We are positive though as there’s been significant development in the market in general. And as the year (finally!) comes to an end, we have asked some of the safest fellows about their best and worst happenings in crypto during 2022. Enjoy!

Philip, Brand and Product Designer

Maybe one of the best things was that FTX actually crashed, it was inevitable. In that way, it started a big cleanup of sketchy companies and the ones that are straight shooters like us can shine brighter. Time will tell.

Alexander, Operations Associate

Even though prices have gone down, adoption is growing and big traditional companies are exploring web3. Polygon, which is a layer 2 and offers scaling to the Ethereum blockchain, has seen some big companies building projects and exploring web 3 use cases. Some of these are Stripe, Reddit, Walt Disney Company, Adidas, Starbucks, Adobe and Meta.

Cecilia, Financial Investigation Officer

One of the best things is definitely the continued and significant positive developments of cooperation and information exchange between legit cryptocurrency exchanges and law enforcement in Sweden. We've done it for a long time but it's truly paying off this year which is great for customer safety.?

Worst, or best, depending on how you view it: Bad actors caused real damage to crypto exchange credibility but just like more people have pointed out, it will lead to a cleanup where legit companies get to prove themselves.

Filip, Client Service Advisor

I think it’s important to note that with all the chaos happening this year with centralized exchanges, DeFi protocols have passed the stress tests so far and did not collapse or had downtime, unlike the companies we have seen fail this year. It will be interesting to see what the next 1–2 years have to offer with all the record funding coming in since 2021-2022 to projects that are still building and haven’t launched yet. It seems like VC funding for blockchain projects this year will exceed 2021 even though we have had a very difficult year.

There is (for sure) never a boring day in crypto. Cheers to the new year!