Bank for International Settlements: Retail investors in emerging economies hit hardest by FTX and Terra collapses

ChainCatcher news, the Bank for International Settlements released a report on Monday that analyzes data from cryptocurrency trading applications across 95 countries, as well as on-chain data on the daily distribution of Bitcoin holdings collected from IntoTheBlock.

The data shows that from August 2015 to December 2022, nearly three-quarters of users downloaded cryptocurrency platform applications when the price of Bitcoin exceeded $20,000. After the collapse of Terra in May 2022, over $450 billion disappeared from the cryptocurrency market, and another $200 billion was lost after the bankruptcy of FTX in November, with investors outside major economies being hit the hardest. By December 2022, the median investor had lost $431, nearly half of the total $900 they had invested since downloading the application. This proportion was even higher in several emerging market economies such as Brazil, India, Pakistan, Thailand, and Turkey. (CoinDesk)