Good day everybody,
Welcome to CryptoGod-1's blog on all things crypto. With half of 2023 almost completed, and with so much news having emerged in recent weeks surrounding the likes of the SEC and Binance, I thought it would be interesting to put a timeline together regarding the major events in the crypto space throughout 2022 and so far in 2023.
2022
It was a hectic year for crypto in 2022, with the de-pegging of TerraUSD in May kicking things off for the horrendous year to follow. In June Celsius halted withdrawals, before Babel Finance and Three Arrows Capital (3AC) are forced to suspend withdrawals and liquidate respectively. In July we had Voyager Digital file for bankruptcy, but the biggest impact did not take place until November. FTX was forced to file for bankruptcy, and was soon followed by Block-Fi as the wheels came off in the crypto space, with markets crashing in response.
2023
This year continued where the previous year left off, with January seeing Genesis and Gemini sued by the SEC for selling unregistered securities and CoinDesk being put up for sale due to liquidity issues. Genesis later filed for bankruptcy, while in February Terra founder Do Kwon was charged by the SEC, although his whereabouts remained unknown. FTX founder Sam Bankman-Fried (SBF) also faced new indictments and additional criminal charges in February, while his co-founder Nishad Singh apparently cooperated with the authorities against SBF. In March Silvergate Capital had to evaluate its ability to stay in business, with major banks failing later that month. Coinbase also got notified in March of an impending enforcement action by the SEC, while Do Kwon was finally arrested in Montengro. The CFTC sue Binance for offering unregistered securities, while SBF is accused of bribery with Chinese officials in the same month. May saw SBF request some of his charges be thrown out, while Do Kwon was granted bail but forced under house arrest. The biggest news so far came in early June, as the SEC brought lawsuits against two of the biggest cryptocurrency exchanges in Binance and Coinbase.
It has certainly been a crazy year and a half or so in the crypto space, with plenty of more drama certain to be ahead. There were plenty of other incidents which I excluded, but the general gist of how crazy and unpredictable the space can be is certainly shown. Hopefully the remainder of 2023, and the years ahead, will be filled with more positive vibes.
Have a great day.
Peace. CryptoGod-1.
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