Crypto in 2022: A Dramatic Journey

Another wild ride in the crypto universe, 2022 had Twitter buzzing more than a beehive at lunchtime. From monumental collapses to unexpected takeovers, the year was packed with events that had everyone glued to their screens. Think of it like a reality show, but instead of drama queens, we had billion-dollar hedge funds falling like dominoes.

Moments to Remember

Tweets from this past year have acted like digital time capsules, capturing history and legendary moments. Some tweets will go down in infamy, while others simply give us a chuckle at the absurdity of it all. Here’s a rundown of some of the highlights:

1. The Terra Collapse

Start the countdown; May was when Terra decided to do its best impression of Humpty Dumpty. Once riding high with the LUNA token, it took a nosedive faster than a toddler at a candy store. According to Do Kwon, its leader, the project was clocking in at 50 cents instead of a full dollar. A true plot twist!

• 4/ A review of the current situation: UST is currently trading at 50 cents, a significant deviation from its intended peg at $1. — Do Kwon (@stablekwon) May 11, 2022

2. Twitter’s New Crypto King: Musk

Elon Musk’s acquisition of Twitter had crypto fans buzzing, and he sure didn’t disappoint! With rumors swirling around his Dogecoin enthusiasm, he went full-on CEO mode, declaring, “the bird is freed.” Perhaps he freed us from crypto boredom or just thrust us into more chaos.

• the bird is freed — Elon Musk (@elonmusk) October 28, 2022

3. Three Arrows Capital Takes a Dive

Remember when the phrase “too big to fail” didn’t seem so far-fetched? Well, 3AC took that to heart and promptly collapsed in July. Zhu Su, one of its founders, claimed they were in touch with ‘relevant parties’—which sounds like classic corporate speak for, “We’re in trouble.”

• We are in the process of communicating with relevant parties and fully committed to working this out — Zhu Su (@zhusu) June 15, 2022

4. FTX’s Downfall

Let’s just say, the fall of FTX was like watching a slow-motion train wreck that was also a documentary. Sam Bankman-Fried’s empire came crumbling down, leading to a chorus of apologies and a flurry of investigations. Honestly, the drama could make a great Netflix series.

• I had thought of myself as a model CEO…I’m sorry. — SBF (@SBF_FTX) December 9, 2022

5. Ethereum’s Merge: A New Era

Ethereum’s transition to proof-of-stake in September had folks debating whether it was a miracle or just a clever PR stunt. Vitalik Buterin celebrated the moment, and for a minute, everyone thought crypto was going to be okay. If only it were that simple!

• And we finalized! Happy merge all. — vitalik.eth (@VitalikButerin) September 15, 2022

Reflections on Regulation and Price Dips

Alongside pivotal events, a slew of conversations surrounding regulation and price fluctuations made waves. For example, Senator Cynthia Lummis wasn’t having any of the regulation talk, and Bitcoin continued its rollercoaster ride below $20,000, painting a truly bleak picture.

• Requiring open source developers to build AML/KYC into node software? That dog won’t hunt. — Cynthia Lummis (@CynthiaMLummis) December 14, 2022

• #Bitcoin has finally broken the neckline of a head-and-shoulders top. — Peter Schiff (@PeterSchiff) January 21, 2022

Crypto Meets Mainstream Culture

On a lighter note, cryptocurrency even caught the eye of sports icons like Tom Brady, who tweeted like he was an enthusiastic fanboy. It was a refreshing sight amid all the chaos to see mainstream figures acknowledging the crypto realm.

• What’s up Vitalik! You may not know me… Hope I get to meet you someday — Tom Brady (@TomBrady) March 19, 2022

Looking Ahead

With Michael Saylor remaining optimistic and Anthony Pompliano reminding us of the cyclical nature of bear markets, there’s a cautious sense of hope lingering. Crypto may resemble a rollercoaster ride, but the end of this year finds us focused, building, and learning. Perhaps 2023 will be kinder?

• Bear markets eventually end, but they can last longer than you think. — Pomp (@APompliano) November 23, 2022