<\/p>\n
Another year in the crypto space has nearly passed. As usual, Twitter has been a hotbed of crypto-related conversation during the turbulent year. From Terra\u2019s collapse and the whole situation with FTX to Elon Musk\u2019s takeover of Twitter, 2022 has played out like a television drama, keeping people on the edge of their seats.\u00a0<\/p>\n
Tweets can act like time capsules from the past, offering up memories or documenting particular historical points. <\/p>\n
Here are 10 memorable tweets from 2022. <\/p>\n
The crypto space suffered several blows this year, and among them was the collapse of the Terra project. Terra started 2022 as a prevalent project in the crypto industry, with its LUNA asset sitting in the top 10 cryptocurrencies by market capitalization at the start of the year.<\/p>\n
In May, however, the project crumbled, fueled by the fact that its related stablecoin, TerraUSD (UST), completely lost its peg to the U.S. dollar. Although the year included many tweets related to the spectacle, the one below from the project\u2019s head documents part of the series of events.<\/p>\n
\n4\/ A review of the current situation: UST is currently trading at 50 cents, a significant deviation from its intended peg at $1.<\/p>\n
\u2014 Do Kwon (@stablekwon) May 11, 2022<\/a><\/p><\/blockquote>\n
Twitter\u2019s new Dogecoin-focused owner<\/h2>\n
Tesla CEO Musk has dabbled in the crypto space at times, frequently expressing his interest in Dogecoin (DOGE). In October, he bought Twitter, named himself its CEO and proceeded to enact significant changes to the company. Crypto exchange Binance has invested in Musk\u2019s Twitter, putting $500 million toward the social media giant.<\/p>\n
\nthe bird is freed<\/p>\n
\u2014 Elon Musk (@elonmusk) October 28, 2022<\/a><\/p><\/blockquote>\n
Three Arrows Capital falls<\/h2>\n
Another significant company that went down was Three Arrows Capital, or 3AC. Once a multibillion-dollar hedge fund, 3AC filed for bankruptcy in July, seemingly affected in part by the fall of Terra.<\/p>\n
Over the course of the year, contagion has reared its head as a significant factor in the crypto space. When one company made a splash in a negative way, the ripple effects were often felt by other players.<\/p>\n
\nWe are in the process of communicating with relevant parties and fully committed to working this out<\/p>\n
\u2014 Zhu Su (@zhusu) June 15, 2022<\/a><\/p><\/blockquote>\n
FTX collapses<\/h2>\n
FTX, yet another major player in the crypto space, also fell apart in 2022. Led by former CEO Sam \u201cSBF\u201d Bankman-Fried, the crypto exchange wound up in a position where it did not have enough funds to pay out those it owed. <\/p>\n
With details surfacing following the collapse \u2014 such as sister entity Alameda Research mishandling funds \u2014 FTX-related headlines have dominated the latter portion of the year, including the company\u2019s November bankruptcy filing and the multiple United States government hearings related to the exchange. At the request of the U.S. government, SBF was taken into custody by Bahamian authorities in December.<\/p>\n
\n3) I had thought of myself as a model CEO, who wouldn’t become lazy or disconnected.<\/p>\n
Which made it that much more destructive when I did.<\/p>\n
I’m sorry. Hopefully people can learn from the difference between who I was and who I could have been.<\/p>\n
\u2014 SBF (@SBF_FTX) December 9, 2022<\/a><\/p><\/blockquote>\n
The Ethereum Merge<\/h2>\n
Ethereum officially made its much-anticipated transition to a proof-of-stake blockchain in September, bringing proof-of-work consensus to a close on one of crypto\u2019s most prevalent blockchains. Ethereum co-creator Vitalik Buterin tweeted on Sept. 15 that the event had reached completion. <\/p>\n
Following the Merge, the Ethereum blockchain showed improvements related to block production, requiring less time for block verification and seeing an increase in the number of blocks produced each day. The Ethereum blockchain\u2019s next major upgrade, Shanghai, is anticipated to occur in 2023 and will unlock Ether (ETH) staked on the Beacon Chain.<\/p>\n
\nAnd we finalized!<\/p>\n
Happy merge all. This is a big moment for the Ethereum ecosystem. Everyone who helped make the merge happen should feel very proud today.<\/p>\n
\u2014 vitalik.eth (@VitalikButerin) September 15, 2022<\/a><\/p><\/blockquote>\n
Regulation<\/h2>\n
The final five tweets on this list don\u2019t so much focus on major events as they simply look at points of interest related to the crypto space, evidenced in tweet form. This one from U.S. Senator Cynthia Lummis sheds light on crypto regulation, an increasingly popular topic in the industry this year.<\/p>\n
\nRequiring open source developers to build AML\/KYC into node software and hardware wallets? That dog won\u2019t hunt.<\/p>\n
\u2014 Cynthia Lummis (@CynthiaMLummis) December 14, 2022<\/a><\/p><\/blockquote>\n
Bitcoin\u2019s price troubles<\/h2>\n
Bitcoin (BTC) had a tough year, dropping from almost $50,000 to below $20,000, according to Cointelegraph\u2019s BTC price index. Although gold advocate Peter Schiff has historically bashed Bitcoin, the prices he mentioned in a Jan. 20 tweet don\u2019t seem illogical looking back. But will Bitcoin\u2019s price continue going down even further, or is the worst already over? The answer will likely come in 2023.<\/p>\n
\n#Bitcoin<\/a> has finally broken the neckline of a head-and-shoulders top. The scary part for the longs is that the pattern projects a move below $30,000. Once that level is breached Bitcoin will have completed a massive double top. From there a crash below $10,000 is highly likely.<\/p>\n
\u2014 Peter Schiff (@PeterSchiff) January 21, 2022<\/a><\/p><\/blockquote>\n
A sign of crypto\u2019s mainstream attention<\/h2>\n
In March, before much of the year\u2019s bearishness, National Football League star Tom Brady tweeted about his admiration of Buterin \u2014 a sign of crypto\u2019s mainstream attention and growth.<\/p>\n
\nWhat\u2019s up Vitalik! You may not know me but just wanted to say I\u2019m a big fan of yours. thank you for everything you\u2019ve built in the world of crypto, otherwise @Autograph<\/a> wouldn\u2019t have been possible. Hope I get to meet you some day you\u2019re the https:\/\/t.co\/W6PxS5P78M<\/p>\n
\u2014 Tom Brady (@TomBrady) March 19, 2022<\/a><\/p><\/blockquote>\n
Still a Bitcoin proponent<\/h2>\n
MicroStrategy\u2019s co-founder and executive chairman, Michael Saylor, has been the face of the company\u2019s Bitcoin-acquiring pursuits, which have led to MicroStrategy holding over 100,000 BTC. Since turning bullish on the asset, Saylor has often spoken positively about Bitcoin. The events of 2022 have seemingly not deterred him from the cryptocurrency, based on the December tweet below.<\/p>\n
\nTrust #Bitcoin<\/a>, Not People.<\/p>\n
\u2014 Michael Saylor\u26a1\ufe0f (@saylor) December 9, 2022<\/a><\/p><\/blockquote>\n
A simple tweet from an industry native<\/h2>\n
Since its inception, the crypto industry has, at times, resembled a rollercoaster of highs and lows. Anthony Pompliano, a well-known figure in the crypto space, tweeted a ray of positivity late in the year to cap off the list on a positive note.<\/p>\n
\nBear markets eventually end, but they can last longer than you think. <\/p>\n
If you speak to anyone who has been around for multiple cycles, they will tell you now is the time to focus, build, and learn.<\/p>\n
\u2014 Pomp (@APompliano) November 23, 2022<\/a><\/p><\/blockquote>\n<\/div>\n