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In this brand new series, we at CoinDCX want to keep you abreast of everything that has been happening on Twitter, crypto and everything in between. Now, as the year comes to an end – let us take a broader view and highlight some of the more important crypto tweets in the year 2022. From Vitalik Buterin to mainly Elon Musk – let’s look at all the top conversations on crypto twitter in 2022.
Warning: these tweets will give you serious nostalgic feelings. Imagine this is a ride in a theme park and we’re about to jump in!
The Terra LUNA Depegging Fiasco
Our ride begins at the begin – in the month of May 2022 when the crypto ecosystem received the biggest jolt in the 14 year history of the existence of cryptos in the world. We saw the catastrophic depegging of the algorithmic stablecoin, UST from its dollar peg. UST had been built by the Terra foundation, which had also created the LUNA crypto as its native token. Terra had been one of the strongest, most promising crypto projects until then, and LUNA even featured on the top 10 cryptos by market cap but with the depegging of UST and the eventual crash of LUNA – we saw nearly $40 to $60 billion being pulled out of the system in a matter of days.
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
Additional read: Terra LUNA Crypto Crash Explained
Three Arrows Capital (3AC) crumbles
With the crash in the Terra LUNA ecosystem – it was bound to after aftershocks in the ecosystem. After all, Terra was a very well known project and many firms were invested. People were still used to the feeling of a bull market where anywhere you put money, you will make a profit. This marked the beginning of the realization that the bull market hasn’t just ended, but a bear market was was fully upon us.
As a result of the Terra collapse, a very significant company in the crypto space – the Three Arrows Capital or 3AC – which was once a multibillion dollar hedge fund – filed for bankruptcy in July 2022.
We are in the process of communicating with relevant parties and fully committed to working this out
— Zhu Su 朱溯 (@zhusu) June 15, 2022
The highly anticipated Ethereum Merge goes live!
In the month of September 2022, Ethereum finally implemented the Ethereum Merge – which was the highly anticipated transition from a proof-of-work consensus mechanism to a proof-of-stake blockchain on the largest smart contract capable blockchain in the world. On 15 September, Ethereum co-founder Vitalik Buterin tweeted his announcement that the event had successfully been completed and the PoS Beacon Chain had been merged with the Ethereum mainnet.
And we finalized!
Happy merge all. This is a big moment for the Ethereum ecosystem. Everyone who helped make the merge happen should feel very proud today.
— vitalik.eth (@VitalikButerin) September 15, 2022
Cardano’s Vasil Hard Fork goes live!
September was definitely a busy week – as we saw Cardano’s Vasil Hard Fork go live within a week of the implementation of Ethereum Merge. It was one of the biggest developments to the Cardano blockchain network yet and this is an upgrade that is expected to significantly improve the Cardano blockchain’s throughput, efficiency and block latency speeds.
This is essentially being done because Cardano wants to stay one step ahead of the curve and prevent skyrocketing transaction costs and poor transaction speeds as the blockchain gains more popularity.
🎊 #Vasil deployed!!
— Cardano Foundation (@Cardano_CF) September 22, 2022
Additional read: Cardano Vasil Upgrade Goes Live Successfully
Elon Musk buys Twitter for $44 billion
While this isn’t directly a crypto related development – one must agree, Elon, crypto and Twitter are three things that are irrevocably tied to each other. Elon Musk’s tweets have been instrumental in driving many a crypto prices in the past and one can be sure he’s going to remain interested the space.
Musk also got a battery of other investors to pitch in some amounts to help him complete the deal, one of the prominent one out of that is none other than Binance itself, which put in a hefty $500 million towards this deal.
the bird is freed
— Elon Musk (@elonmusk) October 28, 2022
FTX crypto exchange collapses
In what seemed of be a year of collapses, like a series of dominos – FTX was the latest in the long line of major heavyweight collapses in the year 2022. The FTX crypto exchange, which had been founded by Sam Bankman-Fried – who was once hailed as a genius when it came to crypto – began its quick descent into the abyss in the beginning of November 2022.
It all began with a report detailing how it was siphoning off customer funds and using them in its sister concern company, called Alameda Research and how heavily in debt they were. Yeah, it was bad. The following tweet sums it up.
1) I'm sorry. That's the biggest thing.
I fucked up, and should have done better.
— SBF (@SBF_FTX) November 10, 2022
Latest news indicates that he had been arrested by the authorities in Bahamas but was soon let off in lieu of a $250 million bail bond, when he explicitly stated that he had a net worth of around $100k.
Sam is out on a personal recognizance bail. What this means is that NO MONEY has been paid. His parents put up their home as collateral, one relative and a non-relative have also put up collateral. All of them would be on the hook for $250M if Sam runs. https://t.co/F85qHFVQDQ
— Autism Capital 🧩 (@AutismCapital) December 22, 2022
To know more, read: FTX Crypto Exchange Collapse Explained
Bitcoin marks history with a 43% monthly surge in February 2024.
Bitcoin price has surged just under 50% in February 2024 alone!