Back in time: Impactful crypto events of the past 2 years

Disclaimer: I am not responsible for any caused stress or PTSD that may arise after reading this post.

Below is an overview of some impactful events that I was able to find and remember from the past 2 years. I'm sure I missed a few, but here are some important ones that have stuck with me.

We've seen it pretty much all. From mother nature to regulations, scams, fraud and bankruptcy.

September 2021: Heatwave in China and regulation

A big mining region in China (Sichuan), was hit by a drought, which leaded to power outages. As a result, the Chinese government announced stricter rules to reduce energy consumption, causing concerns about the future of crypto mining in China and uncertainty in the market and prices to drop.

May 2022: Interest rates and Do Kwon

In May 2022, the Federal Reserve announced an interest rate increase. This caused a drop in prices, (BTC and ETH falling by 27% and 33.5% in just a few days). Additionally, Do Kwon's project Terra (Luna) became unsustainable. Investors withdrew their funds resulting in a $42 billion loss in a week.

June 2022: 'Big players' in trouble

Due to liquidity problems, Celsius announced a halt to all withdrawals and transfers in the hope that the network would stabilize, leading to a decline in prices. First reports emerged of Three Arrows Capital (3AC) defaulting on its obligations. A $670 million loan from Voyager Digital could no longer be met.

July 2022: Bankruptcies and investigations

A month filled with bankruptcies and investigations continued to destabilize the market. Celsius and 3AC declared bankruptcy. 3AC owing $3.5 billion to its creditors. Blockchain.com reported a $270 million loss due to problems with 3AC. Voyager Digital files for bankruptcy

July 2022: More heatwaves and investigations

A heatwave hit Texas, leading to problems in the energy grid and therefore the suspension of mining operations. Coinbase announced that it was being investigated by the SEC for potential misleading practices toward customers.

November 2022: SBF...

FTX's native coin (FTT) lost 80% of its value due to misconduct (fraude/Ponzi) within the company, resulting in the bankruptcy of both FTX and BlockFi. BlockFi stated FTX was the main cause of their financial troubles.

April 2023: Gary

The SEC has announced its intention regulate crypto assets. This announcement has triggered a sell-off in the market and uncertainty on the future of cryptocurrencies.