Asset management firms operating in the crypto space saw their assets under management (AUM) decline by 14.5% on average in November, marking the worst month for the industry since December of 2020.
The figures were revealed in a new report by crypto researcher CryptoCompare, which pointed out that the declines were fueled by fears surrounding exposure to the collapsed crypto exchange FTX, and the potential for contagion to other players in the industry.
The latest data now shows that total AUM in digital asset investment products fell to $19.6bn in November, the lowest level since December 2020. Coincidentally, December 2020 also marked the last time bitcoin (BTC) prices traded around the same level as they do today.
(by Fredrik Vold)
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