Crypto Twitter took it easy over the holiday period, but law enforcement did not. Let’s see what you missed between Christmas and the New Year.
We took an extensive break and finally put that godforsaken year 2022 behind us. Things can surely get only better in 2023, can’t they? Up only from here?
Crypto Twitter took it easy over the holiday period, but law enforcement did not. Let’s see what you missed between Christmas and the New Year.
Who Went Viral This Time?
Kicking off the first round-up of the year with a round-up of 2022 threads. Aylo is running an excellent newsletter with weekly Crypto Twitter coverage of his own. He covered the best threads of 2022 in this thread of threads:
Some gems in there about bear markets, trading lessons, and crypto cycles.
Another year-end staple came from Messari. Ryan Selkis covered their 2023 crypto theses here:
The TLDR version:
- Bitcoin is long-term stable but faces many challenges.
- Ethereum has to deal with MEV and censorship resistance.
- Other L1s will battle it out between monolithic and modular chains.
- CeFi will still be around because on-ramps.
- Regulation is coming in 2023.
The full version is quite a read but worth it if you have an hour.
The final thread is for those persistent readers that still want to trade crypto. If the chop hasn’t scared you, then have a look at this thread from Worst Contrarian:
He covers great content and account sources for trading crypto. The bear market may be a good time to learn, but you must be in it for the long haul.
Another interesting thread came from Kyle — “I read all the crypto outlook reports so you don’t have to:”
The most common talking points include a bounce in the second half of 2023 (🤞), altcoins underperforming BTC and ETH (been saying this all along!), and stablecoins as a new strong narrative in crypto (no surprise here). Check out his summaries to learn what the big boys are betting on.
Finally, a thesis that we’ll hear more about soon is Ethereum liquid staking.
Liquid staking is a way of unlocking your staked ETH without really unlocking it. Lido is the frontrunner, but Thor Hartvigsen also covers all of its competition here:
Who Is Arguing In Way Too Public A Place?
The end of 2022 saw Crypto Twitter surprisingly harmonious and, dare we say, united. United in their schadenfreude against influencer Andrew Tate, who did not have the best end to the year. Yes, this happened:
The irony of Andrew Tate getting done in by the GRETA task force for human trafficking was not lost on Crypto Twitter. Although the pizza box story was a hoax, most of CT had a good time laughing at Andrew Tate. Most of Crypto Twitter…
Will Layah Hailpern get her big redemption arc as Andrew Tate’s crypto superfan in 2023?
We will definitely find out…
The big crypto-native drama broke out shortly after the New Year celebrations were over. If you read our Grayscale piece, you remember that DCG, the fund behind Grayscale has some, ahem, issues. Cameron Winklevoss, whose Gemini exchange has some funds stuck at Genesis, now asked DCG founder Barry Silbert to show him the money:
The comment section read very much like Cameron Winklevoss could use some of Andrew Tate’s black vans to pay Silbert a visit…
Elon Building Twitter
Even Elon Musk, who must be quite happy about letting Tate back on Twitter and generating a maelstrom of attention, had something to say about pizza:
Besides new UX improvements to Twitter, Musk also promised to find a new CEO. As soon s someone is foolish enough to take the job:
Maybe someone from the crypto industry could take over? They say quite a few people are looking for work there.
He also let the people decide whether he should continue shooting the shit about politics. Despite all the flak Elon’s getting, the masses voted for more:
Schiff Saying Stuff
Peter Schiff tried to poach some investors from the Bitcoin community with this poll over the New Year:
He’s also ultra-bearish on the price of Bitcoin for 2023:
For the sake of our industry, let’s hope Peter Schiff is wrong.
Talk of the Town
The Andrew Tate arrest briefly distracted Crypto Twitter from its former main villain Sam Bankman-Fried. But after Alameda wallets woke up from their slumber, SBF felt compelled to do some explaining:
Of course, no one was really buying that one. Not even Edward Snowden, who knows a thing or two about cybersecurity and feds coming after you:
Solana, which heavily leaned on SBF’s brand and credibility, had a torrid 2022. It lost 98% of its value from ATH, but fear not! No other than Vitalik Buterin came in to temporarily pump its price:
We will see how much that will do to help Solana get back on track.
The holidays saw another criminal getting tracked down by law enforcement. Avi Eisenberg, the Mango Protocol exploiter, was arrested in Puerto Rico:
The Binance FUD slowed down a bit as everyone took a breather and laughed at Andrew Tate. CZ retweeted the following debunking thread:
However, if Binance is truly out of the woods, it will only become clear as the market continues to bleed into the new year.
In further news on the CEX-going-bankrupt side of news, Huobi was on the receiving end of some FUD. Justin Sun even had to send 100 millies to the exchange to guarantee further withdrawals and summoned his best Baghdad Bob impression to assure everyone that it will be ok:
Finally, SBF pleaded not guilty in his first appearance in court. His trial is set to start in October (because all blockbusters come out in fall):
Our Favorite Coinfession
This Coinfession probably seems up how many felt about 2022:
Going home is not an option, though. The bear market won’t be quick or easy, but those that make it to the other side will be rewarded.
Memes
Clear winner of best meme to wrap up 2022 is this fan-made South Park impression of SBF:
May 2023 bless us with better news and prices going up instead of down. Happy New Year again!
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