Exactly one year ago, the combined market capitalization of all the cryptocurrencies out there peaked at an all-time high of $2.9 trillion, according to CoinMarketCap.com. Over the course of the last year, a market blood bath has taken place, wiping out nearly $2 trillion. Bitcoin BTCUSD, the largest cryptocurrency, has plunged by some 70%, but has shown some impressive market resilience at the $20,000 range.
In this historic year for cryptocurrencies, five crypto players stand out for having the most influence over the current market state of crypto, landing on the MarketWatch 50 list of the most influential people in markets. Two of them, Sam Bankman-Fried, CEO of FTX, and Changpeng Zhao, CEO of Binance, were locked in a duel on Monday.
Changpeng Zhao Changpeng Zhao controls the world’s biggest cryptocurrency exchange, facilitating $70 billion of trading daily this year in more than 500 listed cryptocurrencies and leveraged products tied to them. Binance handles some two-thirds of the world’s cryptocurrency trading that takes place through a centralized exchange. In many ways, the cryptocurrency market is now shaped by the man crypto-enthusiasts refer to as CZ.
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Read the room. Bad timing ffs
badtiming