46 2023 Provided Important Answers To The Crises In 2022 Entity 2022 Crisis 2023 Resolution Luna, UST Algorithmic stablecoin UST collapsed, causing a significant sell-off in Founder Do Kwon was arrested and faces eight indictments in Manhattan’s its sister cryptocurrency, LUNA, erasing over 60 billion USD in market U.S. District Court, while his startup, Terraform Labs, faces SEC civil charges value.* for orchestrating a multi-billion-dollar securities fraud. Three Arrows LUNA’s collapse led high profile hedge fund Three Arrows Capital The Monetary Authority of Singapore banned 3AC’s co-founders from capital Capital (3AC) into a liquidity crisis, forcing it into bankruptcy. markets activity for nine years, and a court in the British Virgin Islands froze 3 their assets. 2 0 2 A bankruptcy court approved a restructuring plan for Celsius that will return Celsius N Crypto lending platform Celsius froze withdrawals and then filed for assets to customers and establish a new company focused on mining and I Network bankruptcy. staking. CEO Alex Mashinsky faces criminal charges for allegedly misleading N customers. OI C T BI After Coindesk exposed the fraudulent financial entanglement The Southern District of New York convicted Sam Bankman-Fried on seven FTX between trading firm Alameda and FTX, FTX suffered a bank run and counts of fraud related to the collapse of FTX. A bankruptcy court granted collapsed. the FTX estate approval to sell its assets. BlockFi BlockFi’s exposure to FTX forced it into bankruptcy. BlockFi received court approval to liquidate, with partial in-kind repayment to creditors. With significant loans to 3AC, crypto lender Genesis declared Crypto lender Genesis reached a settlement with parent company DCG, Genesis bankruptcy. involving $620 million in repayments. The SEC is suing Genesis for selling unregistered securities. *This data point is sourced from Corva 2022. Sources: ARK Investment Management LLC, 2024. Information as of December 31, 2023. For informational purposes only and should not be considered investment advice or a recommendation to buy, sell, or hold any particular security or cryptocurrency. Past performance is not indicative of future results.