It was a year of retrenchment and transition for the crypto industry. After 2022’s scandals, including FTX, Three Arrows and Celsius, asset prices had gotten crushed and the industry was in hunker-down mode: building, retooling, sharpening up compliance. Regulators went on a warpath, launching major investigations against Coinbase, Binance, Kraken and others. Long-standing, and potentially momentous, legal cases, like Ripple’s with the SEC over the sale of XRP, reached a conclusion.
