• DeFi experienced a major downturn in 2022, with the total TVL decreasing from $267B to $53B.
• NFTs and GameFi overtook DeFi in public and investor interest during the year’s second half.
• Footprint Analytics collected 25 important stats about the DeFi industry in 2022.

The year 2022 marked a major downturn in the DeFi industry, with the total value locked (TVL) decreasing from $267B at the beginning of January to $53B by the end of the year. This downturn was kicked off due to a variety of factors, the most prominent being the Federal Reserve’s rate hikes and the collapse of the Terra project. The collapse of Terra was a major setback for the DeFi industry, and was followed by a series of hacks, collapses, and macro conditions that further exacerbated the bear market.

Despite this, the DeFi industry was far from dead. Even though many DeFi projects ceased to be active, several protocols and categories performed well, indicating that they were able to weather the storm and have the potential to thrive in the future. NFTs and GameFi also overtook DeFi in public and investor interest during the year’s second half, further cementing the importance of DeFi in the blockchain space.

In order to provide a comprehensive analysis of the DeFi industry in 2022, Footprint Analytics has collected 25 important stats about the DeFi industry from that year. These include the total TVL, the percentage of DeFi projects that were active, the number of new DeFi projects launched, the number of DeFi protocols with the most assets locked, and much more. Looking at these stats can help investors and analysts make smarter investments and analyses in the future, and can provide an interesting perspective on the DeFi industry as a whole.

For example, the stats collected by Footprint Analytics show that the total TVL in DeFi decreased from $267B at the beginning of January to $53B by the end of the year. This is a significant drop, and reflects the downturn that the DeFi industry experienced in 2022. Additionally, the stats show that only 28.6% of DeFi projects were active by the end of the year, indicating that the majority of projects had failed.

Overall, the stats collected by Footprint Analytics show that DeFi experienced a major downturn in 2022, but also that several protocols and categories performed well, indicating that the industry is likely to survive the bear market and thrive in the future. By looking back on the year, investors and analysts can make smarter investments and analyses in the future, and can gain a better understanding of the DeFi industry as a whole.

• New York Assembly Bill 2532 would allow state agencies to accept Bitcoin and other cryptocurrencies for payments such as taxes, rent, fines, penalties, and interest.
• The bill does not seem to encourage commercial adoption of crypto, but rather to amend existing laws to allow state agencies to accept cryptocurrency for their purposes.
• The bill specifically names Bitcoin, Ethereum, Litecoin, and Bitcoin Cash as acceptable currencies, and also allows for other cryptos to be accepted.

New York is taking a major step towards legalizing cryptocurrency payments for state purposes. On Jan. 26, Assembly member Clyde Vanel introduced New York Assembly Bill 2532, which would allow state agencies to accept Bitcoin and other cryptocurrencies for payments such as taxes, rent, fines, penalties and interest.

The bill does not seem to encourage the commercial adoption of cryptos, but rather to amend existing laws to allow state agencies to accept cryptocurrency for their purposes. It allows for the state to charge a fee if it would otherwise be made to pay the costs of a transaction, and suggests that some cryptocurrency payments could be conditional until the final payment is received in full.

The bill specifically names Bitcoin, Ethereum, Litecoin, and Bitcoin Cash as acceptable currencies, and also allows for other cryptos to be accepted. In addition, the term “issuer” is used broadly, suggesting that it extends to services that handle crypto, not just those who create it.

This is a major development for the cryptocurrency industry, as it gives more legitimacy to the notion that cryptocurrencies can be used for payments. The potential implications of this bill are huge – if it passes, it could open up a whole new world of possibilities for cryptocurrency payments within the state of New York. It could also encourage other states to follow suit and allow for crypto payments for state purposes.

New York Assembly Bill 2532 is a major step forward for the cryptocurrency industry. It shows that the state is open to the idea of crypto payments, and could pave the way for more widespread adoption in the future.