Staked Blog State of Staking | Q2 2023

  Crypto Rebounds Sharply Amid Bank Failures and Regulatory Crack Down Despite a challenging macro environment, the closure of several systemically important crypto banks, and regulatory action against industry leaders, the crypto market started 2023 with a bang. This after the FTX implosion dragged the market to a multi-year low in Q4 2022. Crypto assets increased by ~ 50%+ Q/Q across the board, reaching their highest levels in the last year. Driven by regulatory action against Binance's bUSD and US bank failures, stablecoins were the only asset class to buck the positive trend. Stablecoins shed another $7BN Q1 2023, after losing $11BN in Q4 2022.