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Trillion-dollar crypto collapse sparks flurry of US lawsuits – who’s to blame?

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theguardian.com

With investors worldwide looking at a collective $1.5tn in recent cryptocurrency losses, a blizzard of class-action lawsuits are being prepared.

One big question is: who, if anyone, is to blame – and who could be held to account?With inflation and interest rates rising, the best-known cryptocurrencies have been hit with heavy and continuing losses: Bitcoin has lost more than 50% of its value this year; Ethereum, its largest rival, is down 65%; and the total value of crypto assets has dropped to less than $1tn from its November 2021 peak of $3tn.

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