The only people making the most money in crypto this year are Bankruptcy Lawyers, it is sad but it is the truth trust me, I do not like it but still, there is not I can do about it or anything anyone can to about it, a lot of crypto exchanges and crypto lending firms have filed for bankruptcy this year, which technically means more money for Bankruptcy Lawyers because they are the ones handling all the bankruptcy cases and honest I have lost count of how many crypto exchanges and firms have filed for bankruptcy.
The people who have suffered this whole bankruptcy saga the most this year are the innocent customers of these crypto exchanges and firms that filed for bankruptcy because the customers did not do anything wrong but trusted them enough to invest in their crypto projects or to store their coin on a centralized crypto exchange because of loyalty and the trust they have for that crypto exchange instead of taking it off the chain into a self custody wallet or cold wallet or cold storage or ledger, that is more secured and can not be hacked, although it has its own downside which is if you lose or misplace your ledger or cold wallet or its private keys all your coin in them are gone and can not be recovered.
Now for those who have their coins stored on a centralized crypto exchange Not Your Keys Not Your Crypto is not a Joke, because leaving your coin at a crypto exchange is not bad until that crypto exchange stops the withdrawal process and eventually files for bankruptcy which leaves you with nothing, all your savings gone just like that. If you want to know how that feels ask any FTX employees that were caught in the crossfire of the FTX and FTT crash saga, because most of them were being paid in FTT that crash to almost zero the last time I checked and FTX collapsed and filed for bankruptcy with all their live savings in it, meaning they have nothing to their names right now.
LUNA/UST crash was the genesis of all these bankruptcy saga and bankruptcy lawyers making more money from crypto than actual crypto traders and investors, the most recent FTX crashed, and over 120+ companies associated with them in any way got burned and would be filing or have filed for bankruptcy, which means once again more money for Bankruptcy Lawyers.
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