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2022 has been a tough year for cryptocurrency, with a significant drop in value, financial losses, public perception issues, and a fraud scandal involving FTX founder Sam Bankman-Fried. Despite denying fraud allegations, Bankman-Fried acknowledges responsibility for the mistakes made at FTX. Former crypto regulator Matthew Homer, now an investor and advisor in the industry, highlights greed and fraud as key factors in FTX's downfall. Fraud is a major takeaway, along with the risks associated with the cryptocurrency industry.