He solicited at least 29,421 bitcoin from at least 23,000 individuals in the U.S.
But some investors question whether the FTX brand can recover from its scandal-ridden past.
Sam Bankman-Fried remains the only senior executive charged with any crimes.
The decline comes as investors pull cryptocurrencies from exchanges such as those run by Binance.
"I didn't ever try to commit fraud on anyone,” disgraced company founder Sam Bankman-Fried said.
Decentralized finance projects and protocols have seen a spike in usage after the recent bankruptcies.
The sharp turn of events will reshape the more than $1 trillion industry amid a possibly prolonged market downturn.
Investors have piled into ether ahead of a software upgrade.
The crypto niche is on course to record its first month with under $1 billion in sales since June 2021.
Crypto collateral that seemed valuable enough to support loans suddenly became deeply discounted or illiquid.
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