see replay of the event

The ILB interdisciplinary research program Finance and Insurance Reloaded (FaIR) invites you to its next webinar on the theme of the crypto winter.


5 PM – 5:10 PM : Introduction – Marie Brière (Scientific Director of the FaIR program, Institut Louis Bachelier)

5:10 PM – 5:40 PM: Iota Nassr (Economist / Senior Policy Analyst at OECD): Lessons from the Crypto Winter – Defi vs Cefi (Slides)

5:40 PM – 6:10PM: Nicolas Louvet (CEO Coinhouse) / Manuel Valente (Scientific Director Coinhouse) : Lessons from FTX failure (Slides)

6:10 PM – 6:50 PM: Panel discussion

Moderator: Louis Bertucci (Scientific Coordinator, FaIR program, Institut Louis Bachelier)

  • Agostino Capponi (Associate Professor, Columbia University)
  • Hanna Halaburda (Associate Professor, NYU)
  • Julien Prat (Researcher at CREST Ecole polytechnique)

Global crypto markets lost about USD 2 trillion of market value compared to their peak at the end of 2021. During this prolonged sell-off, known as “crypto winter”, many actors of the crypto space went bankrupt (Terra/Luna, Three Arrows Capital, or more recently FTX), contagion between crypto assets spiked, with adverse consequences for investors. Those failures exacerbated the global sell-off and raised important concerns for regulators around the world.

This roundtable aims to address the following questions:

  • Is there a risk of contagion of crypto markets to traditional financial markets?
  • What will be the consequences of crypto failures on investors’ crypto sentiment?
  • How should regulation protect retail investors?
  • Do decentralized finance protocols offer better investor protection than centralized platforms? Would standards of disclosure, controls, governance and new forms of custody help the crypto industry restore trust?

Conclusion: Olivier Fliche (Director of Fintech Innovation Unit at ACPR)



  • Finance and Insurance Reloaded – FaIR
  • Institut Louis Bachelier – ILB
  • Autorité de contrôle prudentiel et de résolution – ACPR