In August 2022, CoinShares faced a major setback when it reported losses of $21.7 million due to its involvement with the collapsed Terra (LUNA) ecosystem. Despite this significant blow, the company managed to turn things around with the successful FTX claim sale. This impressive recovery highlights CoinShares’ effective strategic planning and resilience. CEO Mognetti had previously reassured stakeholders that the company had the necessary resources to withstand market challenges, a promise that has clearly been fulfilled.