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Government Blockchain Association Announces Initial Speakers for Upcoming Event: “The Future of Money, Governance and Law”

Spring Conference Convenes Regulatory and Elected Officials, Policymakers, Capital Markets, NGOs, and Crypto Leaders to address CBDCs, DeFi, Regulatory Frameworks, and Security The Government Blockchain Association (GBA) today…

Mostafa Razzak February 6, 2023
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Achieving ROI with Blockchain in the Enterprise: A Cost-Benefit Analysis

Return on investment (ROI) is essential to calculate an asset’s growth. Adopting a technology without understanding the ROI will become more of a hit-and-trial process…

Ravi Chamria February 6, 2023
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January Newsletter

January Newsletter – 2023 Plan 2023 Strategic Plan Last month we provided a year-in-review of 2022. This month we want to share our vison and…

Gerard January 25, 2023
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Web3 gaming in 2022 Review: What is expected from 2023

As we usher in a new year, it is also important to review the year gone by and identify the key lessons for the blockchain world to…

Ravi Chamria January 24, 2023
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Government Blockchain Identity Management Leadership

New York, NY – January 17, 2023 – The Government Blockchain Association (GBA) is excited to announce that Mr. Dino Cataldo Dell’Accio will be leading…

Gerard January 13, 2023
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GBA Seeks Reputable Digital Asset Exchanges to Speak at FoMGL

In the aftermath of FTX and bros, (Voyager, Terra Luna, 3 Arrows Capital etc..), all cryptocurrency exchanges are subject to unjust disgrace. How can a…

Kathy December 31, 2022
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The Future of Money, Governance, & the Law- Coming Spring 2023

The Government Blockchain Association (GBA) will host The Future of Money, Governance, and the Law, live at the National Press Club in Washington, DC, May…

Kathy December 29, 2022
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Web3 trends to watch in 2023: From decentralized finance to Web3 applications

We have come a long way on the internet, something unimaginable in the early days. Currently, there are agreements and disagreements regarding Web3, but it has…

Ravi Chamria December 28, 2022
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2022 Year in Review by the Numbers (from Coinbase)

The key numbers behind crypto’s historic, tumultuous year. One calendar year in the cryptosphere always manages to somehow feel closer to a decade thanks to…

Mark Montoya December 27, 2022
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2022 Year in Review (from Coinbase)

2022 YEAR IN REVIEW The key numbers behind crypto’s historic, tumultuous year One calendar year in the cryptosphere always manages to somehow feel closer to…

Mark Montoya December 27, 2022
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  • January Newsletter
  • Web3 gaming in 2022 Review: What is expected from 2023
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Forum Description

2022 YEAR IN REVIEW
The key numbers behind crypto’s historic, tumultuous year One calendar year in the cryptosphere always manages to somehow feel closer to a decade thanks to the velocity of innovation and the volume of headline-making stories. 2022 gave us plenty of news to keep up with — some good, some, well, not so good. From Ethereum’s historic eco-friendly upgrade to FTX’s infamous collapse, here’s a review of the numbers that account for the highs and lows of crypto’s turbulent, decade-long year. $2 trillion Approximate value that the crypto market has shed since peaking near $3 trillion in November 2021. The total value of the crypto market as of December 20 is roughly $850 billion, near lows for the year, and pressured by ongoing inflation and recessions fears, as well as liquidity crises and firm insolvencies in the crypto space. $18.3 billion Amount of venture capital raised by crypto startups during the first three quarters of 2022. While that figure is lower than the $23 billion raised by crypto startups in the same span last year, steady VC investment in web3 has defied bear market headwinds. $135 million Amount of crypto donations raised for Ukraine in the first three months after Russia invaded in February. BTC, ETH, and stablecoins including USDT, USDC, and DAI accounted for most of the fundraising, and because crypto assets enable near-instant, cross-border donations, Ukraine was able to quickly use funds for supplies like medical kits, bulletproof vests, surveillance drones, and food. 2.4 million  The approximate number of new users who made a trade using a decentralized exchange via Polygon in 2022. Polygon’s new-user growth rate this year accelerated faster than both Ethereum and Solana in the same time period. 208,000 Number of USD Coin (a stablecoin redeemable for $1) addresses with balances over $1,000 as of this month — an all-time high. This development was likely bolstered by several Coinbase initiatives, including waiving fees for converting USDT into USDC, and when buying or selling USDC with any global fiat currency supported by the exchange. 114 Number of nations that are exploring their own “central bank digital currencies.” CBDCs are a completely digital version of government-issued money. Unlike Bitcoin, CBDCs are centralized legal tender, created and controlled by a government or central bank. Like Bitcoin, they can be used for fast and inexpensive global payments. 99.95% The energy-efficiency improvement of Ethereum after the network completed its long-awaited Merge in September. The upgrade changed how the second-largest blockchain verifies transactions, replacing the energy-intensive Proof of Work method for the more eco-friendly Proof of Stake. 96% The price decline of Terra’s LUNA token in a 24-hour period in May, shortly after the crypto’s related stablecoin, TerraUSD, a so-called algorithmic stablecoin, lost its peg to the dollar and prompted both of Terra’s undercollateralized tokens to collapse. The ensuing $30 billion wipeout sent shockwaves through the crypto industry that prompted liquidity crises for firms including Celsius, Three Arrows Capital, and more. 14 Age, as of October 31, of Satoshi Nakamoto's Bitcoin whitepaper, which outlines the core mechanics of the cryptocurrency. Next month, on January 3, Bitcoin will celebrate the 14th anniversary of the first transaction ever recorded on the network. The message inscribed in the “Genesis Block'' referenced a newspaper headline about the Great Recession, a key factor in Bitcoin’s creation: “The Times 03/Jan/2009 Chancellor on brink of second bailout for banks.” 9.1% This year’s peak inflation reading, from June’s Consumer Price Index, which indicated the U.S. was seeing the worst year-over-year inflation increase in 41 years. Red-hot inflation, and the Federal Reserve’s attempt to combat it by raising interest rates, have pressured most markets in 2022, especially riskier growth assets like tech stocks and crypto. 8 Number of charges that Federal prosecutors in Manhattan have brought against Sam Bankman-Fried, the now-infamous former CEO of FTX. A day after SBF was arrested in the Bahamas, U.S. prosecutors unsealed a 13-page indictment, which included counts of securities fraud, wire fraud, and multiple conspiracy counts including money laundering and campaign finance violations. FTX, once valued at $32 billion, is currently in the bankruptcy process. Current CEO John Ray III, who oversaw Enron’s bankruptcy, said of FTX in a filing: “Never in my career have I seen such a complete failure of corporate controls and absence of trustworthy financial information.” #1  Vietnam’s ranking on Chainalysis’s 2022 Global Crypto Adoption index, the second straight year that it held the top spot. The report, which ranks 146 countries is based on five weighted metrics, such as centralized exchange trade volume and peer-to-peer trade volume. [gd_author_actions]

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