Almost 60% of the 564 respondents to the latest MLIV Pulse survey indicated they viewed the recent spate of legal action in crypto as a positive sign for the asset class, whose trademark volatility has all but dissipated in recent months. Major interventions include the US regulatory investigations of bankrupt crypto firms Three Arrows Capital and Celsius Network, as well as an SEC probe into Yuga Labs, the creators of the Bored Ape collection of nonfungible tokens, or NFTs.
“Our investors recognised and the market recognized that the decentralised protocols have unique advantages that not only can benefit crypto markets, but also traditional markets more broadly,” Mary-Catherine Lader, Uniswap Labs COO, said in a Bloomberg TV interview. It’s been a tale of two halves for crypto in 2022, with the first half of this year dominated by chaos. There were bankruptcies, like Voyager Digital Ltd.’s, and the $40-billion wipeout of the Terra blockchain ecosystem. Roughlyin overall value was erased from the industry’s late-2021 record.