Top 10 most influential crypto tweets of 2023
In the year 2023 has pulled some rotten apples from the bear market, which has had negative effects on the public image of the crypto industry. Fortunately, the market is approaching the half tick mark of what some call a true bull market.
This article reviews the 10 most influential tweets from the crypto community in 2023.
SEC Charges Kraken for Unregistered Stock: Steak or Steak?
United States Securities and Exchange Commission Chairman Gary Gensler kicked off 2023 by suing Kraken in an attempt to put some pressure on the crypto industry.
The SEC accused Kraken of failing to register its crypto asset-as-a-service program. Kraken agreed to pay a $30 million fine and remove its services from the US market.
Gensler posted a video explanation of what should be a crypto meme. As he told a five-year-old, he explained that he was talking about “steak, not steak.”
Today @SECGov charged Kraken for its unregistered offering and sale of securities through a staking-as-a-service program.
Whether through staking-as-a-service, lending or otherwise, crypto intermediaries must provide accurate disclosures and defenses required by our laws.
— Gary Gensler (@GaryGensler) February 9, 2023
The relevance of this case goes beyond Kraken and its products, as it has raised doubts among crypto users and companies about the legality of the stock in the United States.
Amidst the news, uncertainty and negative sentiments abound, the SEC still hasn't published clear guidelines for this type of product for crypto-related services.
Later that year, the SEC filed charges that Kraken operated an unregistered exchange and commingled clients' assets with its own. Kraken founder Jesse Powell expressed disbelief, calling the SEC “masochists” who seemed unsatisfied with the previous $30 million fine. Despite signs of SEC defeat, the lawsuit is ongoing.
Do Kwon: Catch me if you can.
The collapse of Luna and stable coin TerraUSD (UST) was the catalyst for the last bear market.
The collapse of the stablecoin occurred in the middle of 2022, pouring out retail victims around the world and affecting companies such as Three Arrows, Voyager, Celsius, Digital Currency Group and many others.
Soon after, the Republic of Korea authorities asked Luna's creator, Do Kwon, to explain what happened to Congress. The phone rang, but the voicemail went through. Kwon was on the run to become the most wanted crypto fugitive in history.
As seen in the movie Catch Me If You Can, his trial is followed by several different criminal organizations that make it seem impossible to catch him. Finally, the run came to an end on March 23, when Montenegro's Interior Minister Do Kuon announced that he had been arrested for using forged travel documents.
One of the most wanted fugitives in the world is captured in Podgorica
Montenegrin police have arrested South Korean citizen Do Kwon, the founder and CEO of Singapore-based Terraform Labs, who is one of the most wanted fugitives.1/2
— Filip Adzic (@filip_adzic) March 23, 2023
Kwon has managed to fend off officials from South Korea, Singapore, Dubai, Interpol and several national powers from the Balkans. The fate of the founder of Terraform Labs is being held this Christmas in a cell in Montenegro, awaiting possible extradition to the US or South Korea. Both results faded for the Koreans.
Cobie's Private Encrypted Tweet: The Power of Crypto Twitter
Coby is a popular figure on Crypto Twitter and the wider crypto sector. His podcast UpOnly has many interesting moments in crypto, such as when entrepreneur Martin Shkreli told Kwon on a live stream, “Jail isn't that bad.”
Kobe meets the sentiment of the crypto community; Therefore, his tweets are highly analyzed and influential.
At one point, Binance's BNB and Bitcoin prices dropped for a moment, resulting in over $50 million lost in liquidity. A flurry of speculation erupted from Kobe's Twitter tweet.
A hash prediction is a message encrypted with a SHA256 hash. The cipher should output an unreadable string. Hashes are one-way functions that can be generated but not reversed (without brute forcing). Therefore, this tool is perfect for confirming the prediction made to the public without revealing the message. When the time comes, the owner can decrypt it for public display.
Unfortunately for Kobe, someone managed to crack the post and spread the word. The encrypted message was an “Interpol Red Notice for CZ,” which CZ is the founder and former CEO of Binance, Changpeng Zhao.
Ahhhhh, you're hearing something.
brb nice piece out if that's the case. pic.twitter.com/2weMwBMP7C
— hyuk (@hyuktrades) April 3, 2023
Hours later, Binance's former chief strategy officer, Patrick Hillman, responded to the media crisis by trying to calm the waters, though he ended up adding more fuel to the fire.
One of two things is true:
1. He is a bully.
2. A law enforcement agent is illegally leaking a case file via encrypted messages on GitHub (ala QAnon), which is a serious crime and arguably a huge news story.
My bet is #1.
— Patrick Hillmann (@PRHillmann) April 3, 2023
Hillman offered two explanations for the decrypted message. The second option opens the door to law enforcement on Binance.
Kobe finally told the crowd what had happened, straining his confidence as a result:
This particular case showed the dynamics and power of crypto Twitter in the crypto market.
Coinbase is ready to face the SEC in court.
SEC in 2010 It is determined to be the most influential entity in the crypto market by 2023.
On June 6th, the SEC charged Coinbase with its unregistered securities sales through its staking-as-a-service program. The SEC's crusade against the US crypto industry has been waged.
Coinbase may have known what was coming after receiving Wells' notice months before they announced that potential enforcement action was looming. Coinbase has often argued that they have demanded clear guidelines and regulations in the US crypto market. Coinbase responded with a 40-second clip with an overview of the issue.
The SEC may have expected an easy win without a settlement like the Kraken case. Despite the high probability of going to court, Coinbase co-founder and CEO Brian Armstrong decided to take the bull by the horns and fight the SEC charges in court.
Regarding the SEC complaint against us today, we are proud to represent the industry in court to finally get some clarity around crypto regulations.
Remember: 1. The SEC reviewed our work and approved us to become a public company in 2021.2. There is no way to get in and out.
— Brian Armstrong ️ (@brian_armstrong) June 6, 2023
Coinbase is the most regulated crypto company in the US market because it is officially traded on the market with the stock COIN. Armstrong's position is important to the company and the entire crypto industry.
BlackRock Spot Bitcoin ETF: The catalyst for the new crypto bull market
In the year In the middle of 2023, the big fake news started. BlackRock, the world's largest asset manager, has launched a Bitcoin ETF for the space.
Fun fact: BlackRock ETF's SEC approval record is 575-1. That's another reason why it's so big, they don't play around. https://t.co/f7YIhGRmLf
— Eric Balchunas (@EricBalchunas) June 16, 2023
In addition, Coinbase was elected as Coinbase's custodian nine days prior to the ETF's announcement. The SEC charged the exchange for its share program and Coinbase took the fight to court.
BlackRock has a clean record when it comes to EFF proposals, with 99.9% of them being approved. BlackRock's ETF success rate is 575 to 1. For investors, when BlackRock filed its Bitcoin ETF position with the SEC, it means that the question of when the Bitcoin ETF position will be approved has changed.
Retail and especially institutional investors are hesitant to enter the crypto market directly and may flood the crypto markets with new funds due to compliance and regulatory hurdles. The result will be an increase in demand, and therefore, an increase in the price of Bitcoin.
Some speculate that a similar effect occurred with gold when the first gold ETF was listed on the New York Stock Exchange.
The SEC handed over the Ripple case
SEC in 2010 2020 launched a serious lawsuit against Ripple and its founder Chris Larson and CEO Brad Garlinghouse.
The case between Ripple and the SEC revolves around allegations that Ripple Labs conducted an unregistered securities offering by selling its XRP cryptocurrency. The case of Ripple was very important for the crypto market, as XRP is considered a security; Many other symbols can be placed in the same basket.
The issue has had a huge impact on Ripple and Generation Token. Garlinghouse has been thrown into the shadows for the time being, dethroning the currency's pole position among the top 5 cryptocurrencies by market capitalization as the price of XRP plummets.
After nearly two years of fighting, Ripple won small victories until October 19, when the SEC dismissed the lawsuit against Garlinghouse and Larson. To Stuart Alderotti, Ripple's chief legal officer, this was a clear capitulation by the SEC.
The SEC personally made a serious mistake after Brad and Chris – and now, they've dismissed all the charges against our executives. This is not a settlement. This is a submission by the SEC. https://t.co/TOsG64ZdEx
— Stuart Alderoty (@s_alderoty) October 19, 2023
The army of XRP, not as sympathetic as Ripple, celebrated the final victory. It was observed as a big event for the crypto markets. According to Ripple, the case “showed that XRP is not a security in and of itself.
Sam Bankman-Fried was sentenced to 110 years in prison.
The deadline came on November 3, when U.S. Attorney Damian Williams charged Bankman-Fried's crimes as “a multibillion-dollar scheme designed to make him the king of crypto” and one of the largest money laundering schemes in American history.
A statement from the Sam Bankman-Fried Group –
“We respect the judges' decision. But we are very disappointed with the result. Mr. Bankman Freed maintains his innocence and will continue to vigorously fight the charges against him.” pic.twitter.com/Q69w6nKB34
— Teddy Schleifer (@teddyschleifer) November 3, 2023
In the year In 2022, SBF was considered one of the most influential people of the year. After a year, he will be considered a white criminal.
LATEST: SBF almost taken ‘off guard' at Brooklyn prison, ex-inmate recalls.
Many celebrities, politicians and investors have taken advantage of his effective art philosophy and connections. SBF became the epitome of crypto hype. His marketing team and personal ego pushed him to position himself as the hero of the crypto industry.
The soap opera created by the turmoil and collapse of the SBF is over. Crypto needed to close this chapter once and for all. The crypto industry celebrated this shutdown as possibly the ghostly end of the bear market.
BlackRock spot Ethereum ETF on the move
Months after BlackRock's spot Bitcoin ETF, the world's largest fund has introduced its spot Ethereum ETF.
Update: BlackRock #Ethereum ETF confirmed. Just filed a 19b-4 with Nasdaq pic.twitter.com/pLhuhhK7jo
— James Seyff (@JSeyff) November 9, 2023
The BlackRock spot Ethereum ETF was in line with five firms that filed the petition: VanEck, ARK 21Shares, Invesco, Grayscale and Hashdex.
The price of ETH immediately increased after the news spread. With BlackRock's new proposal, its intentions to dominate the future space in the ETF crypto arena are clear.
Changpeng Zhao dropped from Binance
One of the most surprising events of the year may be the departure of Changpeng “CZ” Zhao, the founder and former CEO of Binance, from the company he built from the ground up. At the time of its release, Binance was the world's most dominant cryptocurrency exchange in terms of volume.
Binance and CZ have faced strong allegations from multiple US authorities that they willfully violated anti-money laundering (AML) policies with US customers. According to the regulator, the case was opened because Binance failed to register as a securities exchange and was operating illegally in the United States.
The biggest boom erupted after Binance investigated the matter. The US Department of Justice has reached an agreement with Binance to pay a $4 billion fine. As part of the deal, CZ could face criminal charges as part of an investigation into “money laundering, bank fraud and sanctions violations.”
Cz announced that he will be taking an extended leave of absence and announced Richard Teng as the new global CEO of Binance.
Today I step down as the CEO of Binance. It wasn't easy to let go emotionally. But I know it's the right thing to do. I made a mistake, and I have to take responsibility. This is great for the community, Binance and myself.
Binance is no longer a baby. is it…
— CZ BNB (@cz_binance) November 21, 2023
CFTC Chairman Rustin Behnam told CNBC in December that CZ would eventually go to jail. Previously, this option was challenging to implement as he resided in the UAE, a country that did not have an extradition treaty with the USA. Now that could happen, he had to enter the US after pleading guilty and a judge barred him from leaving the country.
El Salvador bitcoin investments will be green
El Salvador has put Bitcoin on the global map and cryptocurrency history as the first country to accept Bitcoin as legal tender. The decision of Salvadoran President Naib Bucale shocked the world. June 9, 2021 will forever be marked as a milestone for any senior practitioner.
Bukele announced the acceptance of BTC as a national currency during the last months of the last bull market. Since then, the Latin American state has bought Bitcoin with public money.
At the onset of the bear market, Bokee found opposition both domestically and internationally for its irresponsible actions. Bad press and pressure from various organizations became the norm, but Buckele doubled down and said that El Salvador buys one BTC a day.
The wind began to move according to Buckele's plan. El Salvador denied bankruptcy rumors by paying investors a total of $800 million plus interest due on January 24, 2023. Bukele roared at Legacy Media as he was being sued for creating a false narrative in his opinion.
Last year, almost every legacy global news outlet claimed that El Salvador was going to pay off its debt in January 2023 because of our “#Bitcoin bet” (since we had an $800 million bond maturing today).
Literally, hundreds of articles https://t.co/rEiK7K13U4
— Naib Bukele (@naibbukele) January 24, 2023
After more than two years, Buckele was finally served the cold food he so desperately wanted. By December 2023, El Salvador's investment in Bitcoin not only achieved its first fiat value, but was profitable.
El Salvador's #Bitcoin investments are in the black!
After thousands of posts and posts mocking our loss, all accounted for by the #Bitcoin market price at the time…
At the current #Bitcoin market price, if we sell… pic.twitter.com/gvl2GfQMfb
— Naib Bukele (@naibbukele) December 4, 2023
In the year 2023 may seem like a bitter and sour year at times, but it has set the stage for a terrifying 2024. There will be plenty of influencer tweets to follow.
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