      Tomasz Tunguz (Theory Ventures) · 2022-11-09
      · 1303d
    

FTX Collapse and the Crypto Winter: Web3's Installation Phase

The FTX insolvency, alongside Three Arrows Capital and Terra's collapse in 2022, has triggered a severe crypto winter with top tokens losing 75% of value and $2.3B in hacked assets. However, these regulatory shocks and market corrections are healthy indicators of Web3 transitioning from speculative installation phase to sustainable deployment, mirroring the dotcom bubble's eventual success.

6 metrics· Cited 0× in the knowledge base ·Open source ↗

Metrics in this report

Cryptocurrency Theft

2.3$B

total

year-to-date 2022 across crypto projects

Dotcom Recovery Timeline

20years

approximately

from bubble collapse to multi-trillion dollar companies

FTX Valuation

24$B

recent

crypto exchange before insolvency

Technology Revolution Cycle Duration

50years

typical

complete technological revolution phases

Token Value Depreciation

75%

median

top 100 crypto projects January-November 2022

Web3 Timeline Progress

10years

approximately

into current 50-year cycle