10 crypto tweets that made a splash in 2022
10 crypto tweets that made a splash in 2022
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Another year in the crypto space has almost passed. As usual, Twitter has been a hotbed of crypto-related conversations throughout the turbulent year. From the collapse of Terra and the whole situation with FTX, to Elon Musk’s takeover of Twitter, 2022 played out like TV drama and kept people in suspense.
Tweets can act like time capsules from the past, evoking memories or documenting specific historical points.
Here are 10 memorable tweets from 2022.
The Terra collapses
The crypto space suffered several blows this year, including the collapse of the Terra project. Terra launched 2022 as the dominant project in the crypto industry, with its LUNA asset ranked among the top 10 cryptocurrencies by market cap at the start of the year.
However, in May the project collapsed, fueled by the fact that related stablecoin TerraUSD (UST) lost its peg to the US dollar entirely. Although the year featured many tweets related to the spectacle, the following from the project leader documents part of the series of events.
4/ A review of the current situation: UST is currently trading at 50 cents, a notable deviation from its intended $1 peg.
— Do Kwon (@stablekwon) May 11, 2022
Twitter’s new Dogecoin-focused owner
Tesla CEO Musk has dabbled in the crypto space at times, frequently stating his interest in Dogecoin (DOGE). In October, he bought Twitter, naming himself its CEO and making significant changes to the company. Crypto exchange Binance has invested in Musk’s Twitter, committing $500 million to the social media giant.
The bird is released
— Elon Musk (@elonmusk) October 28, 2022
Three Arrows Capital falls
Another major company that went under was Three Arrows Capital or 3AC. Once a multibillion-dollar hedge fund, 3AC filed for bankruptcy in July, apparently affected in part by the fall of Terra.
Over the year, contagion has emerged as a significant factor in the crypto space. When a company made a splash in a negative way, the impact was often felt by other players.
We are in the process of communicating with the relevant parties and are fully committed to working this out
— Zhu Su (@zhusu) June 15, 2022
FTX, another major player in the crypto space, also collapsed in 2022. Led by former CEO Sam “SBF” Bankman-Fried, the crypto exchange found itself in a position where it did not have enough funds to pay off its debt.
With details surfacing after the collapse – such as sister company Alameda Research mishandling funds – FTX-related headlines have dominated the latter part of the year, including the company’s bankruptcy filing in November and the multiple US government hearings in the connection with the stock exchange. At the request of the US government, SBF was taken into custody by Bahamian authorities in December.
3) I had seen myself as a model CEO who wasn’t going to get lazy or disconnected.
Which made it all the more destructive when I did it.
I’m sorry. Hopefully people can learn from the difference in who I was and who I could have been.
— SBF (@SBF_FTX) December 9, 2022
The Ethereum merger
Ethereum officially made the much-anticipated transition to a proof-of-stake blockchain in September, completing the proof-of-work consensus on one of crypto’s most widely adopted blockchains. Ethereum co-founder Vitalik Buterin tweeted on Sept. 15 that the event was over.
After the merger, the Ethereum blockchain showed improvements in terms of block production, required less time for block verification, and saw an increase in the number of blocks produced daily. The next major upgrade of the Ethereum blockchain, Shanghai, is expected to happen in 2023 and unlock Ether (ETH) staked on the Beacon Chain.
And we’re done!
Happy merging. This is a big moment for the Ethereum ecosystem. Everyone who helped bring about the merger should be very proud today.
— vitalik.eth (@VitalikButerin) September 15, 2022
The last five tweets on this list don’t focus so much on major events, but simply address interesting points related to the crypto space, documented in tweet form. This by US Senator Cynthia Lummis highlights crypto regulation, an increasingly popular topic in the industry this year.
Require open source developers to integrate AML/KYC into node software and hardware wallets? This dog does not hunt.
— Cynthia Lummis (@CynthiaMLummis) December 14, 2022
Bitcoin’s price problems
Bitcoin (BTC) has had a rough year, falling from nearly $50,000 to below $20,000, according to Cointelegraph’s BTC Price Index. Although gold proponent Peter Schiff has blasted Bitcoin in the past, the prices he mentioned in a Jan. 20 tweet don’t seem illogical in retrospect. But will the price of Bitcoin continue to fall or is the worst over? The answer is expected to come in 2023.
#Bitcoin finally broke the neckline of a head-and-shoulders bodice. The scary part for the longs is that the pattern is forecasting a move below $30,000. Once this level is broken, Bitcoin will have completed a massive double top. From there, a crash below $10,000 is very likely.
— Peter Schiff (@PeterSchiff) January 21, 2022
A sign of mainstream crypto attention
In March, ahead of much of the year’s bear market, National Football League star Tom Brady tweeted his admiration for Buterin – a sign of crypto’s attention and growth in the mainstream.
What’s up Vitalik! You may not know me but just wanted to say that I’m a big fan of yours. thank you for everything else you have built in the crypto world @autograph would not have been possible. I hope to meet you one day, you are the https://t.co/W6PxS5P78M
— Tom Brady (@TomBrady) March 19, 2022
Still a bitcoin proponent
MicroStrategy co-founder and CEO Michael Saylor has been the face of the company’s efforts to acquire Bitcoin, which has resulted in MicroStrategy holding over 100,000 BTC. Ever since Saylor rated the asset positively, he has often spoken positively about Bitcoin. The events of 2022 apparently haven’t put him off cryptocurrency based on the December tweet below.
trust #BitcoinNot people.
— Michael Saylor⚡️ (@saylor) December 9, 2022
A simple tweet from an industry native
Since its inception, the crypto industry has at times been a rollercoaster ride of ups and downs. Anthony Pompliano, a well-known figure in the crypto space, tweeted a ray of positivity at the end of the year to round out the list on a positive note.
Bear markets end eventually, but they can last longer than you think.
If you speak to someone who has been on several cycles, they will tell you that now is the time to focus, build and learn.
— Pomp (@APompliano) November 23, 2022