One key lesson of 2022 is that “money crypto” and “tech crypto” must be handled in a different way. Cash crypto on this context consists of crypto-financial companies corresponding to custody, exchanges, market making, investing and lending. And tech crypto consists of open-source, public permissionless innovation corresponding to blockchains, decentralized finance (DeFi), non-fungible tokens (NFT), Web3 gaming, wallets, instruments and infrastructure. Monetary stability and client safety failures in crypto didn’t come up from the failure of know-how, however the failure of oversight and controls. DeFi blue chips continued to function with no glitch final yr, whereas giant opaque, centralized crypto monetary establishments collapsed like dominoes.