What Happened in the Crypto Industry in 2022: The Crypto Winter Is Cold


2022 is the year of crypto winter, with prices falling from November 2021 highs; several crises fueled the fire, opening the door to bankruptcies. Two main events throughout the year stood out from the crowd: the collapse of the Terra blockchain and crypto exchange FTX.

Both incidents gave a negative industry image that reached a wider audience and significantly damaged trust between cryptocurrency service providers and their users. Of course, good things did not happen! Here is what happened in the crypto industry in 2022!


  • The crypto community celebrates the day the first Bitcoin block, called the Genesis block, was mined on January 3, 2009.
  • AK Party Group Deputy Chairman Mustafa Elitaş emphasized that the work on crypto assets is aimed at preventing malicious people and protecting investors.
  • Domestic automobile company TOGG announced that it is collaborating with Avalanche developer Ava Labs.
  • President Recep Tayyip Erdoğan met with Nayib Bukele, President of El Salvador, which accepts Bitcoin (BTC) as its official currency.
  • Shiba Inu’s (SHIB) Twitter account announced the metaverse project, which will be based on the SHIB ecosystem.
  • NFT trading volume reached a record level of $6.13 billion in January. Volume in January increased by 129 percent compared to December.
  • Crypto asset trading platform FTX has reached a valuation of $32 billion with an investment of $400 million.


  • Blockchain-based gaming industry has reached a value of $ 1 billion.
  • Wider Games, one of the largest gaming platforms in the world, has decided to invest in Turkey.
  • President of Religious Affairs Ali Erbaş touched upon cryptocurrencies and metaverse in the live broadcast of A Haber, which he attended.
  • Toyota Turkey Marketing and Sales Inc. held its annual traditional meeting as a closed circuit on the metaverse platform.
  • President of the Presidency Digital Transformation Office Ali Taha Koç and Minister of Agriculture Bekir Pakdemirli held a meeting. During the meeting, the use of blockchain in agricultural technology came to the fore.
  • The Fed has banned top officials from buying crypto.
  • Mehmet Muharrem Kasapoğlu, Minister of Youth and Sports, broadcast the metaverse.
  • Bitcoin donations collected for Ukraine exceeded 4 million dollars.


  • MUSIAD prepared a report on crypto assets.
  • The Ministry of Treasury and Finance shared the roadmap for the development of the TROY payment system.
  • The first scientific meeting was held on the Metaverse.
  • METU developed new technology in the metaverse.
  • President Erdoğan stated that topics such as the metaverse and web3 show that we need to focus on digital culture.
  • Nureddin Nebati, the Minister of Treasury and Finance, said that the final technical studies on the regulation of cryptocurrencies were carried out.
  • Parliamentary Research Services Presidency has prepared a 68-page report titled “Country Examples of Legal Regulations Regarding Crypto Assets”.


  • Tesla CEO Elon Musk, one of the biggest reasons for Dogecoin’s popularity, bought 9.2% of the shares of Twitter, the social media platform where cryptocurrencies are talked about the most, at the beginning of April.
  • Reddit has announced that it will integrate Ethereum-based NFTs into its platform.
  • The largest institutional Bitcoin investor MicroStrategy bought 4167 BTC at a price of $ 45,714.
  • It was Miami Mayor Francis Suarez’s unveiling of the “crypto bull” statue. The 3000-pound sculpture created for the Bitcoin conference has become one of the important symbols of the industry.
  • The Luna Foundation announced that it purchased $173 million worth of BTC this month.
  • The European Union has increased its sanctions due to Russia’s invasion of Ukraine and has limited crypto money transfers to Russia to 10,000 euros.
  • About two weeks after Tesla CEO Elon Musk bought the stock, he made an offer to buy all of Twitter. Musk’s offer has been on the agenda for a long time, and when the dates show April 25, 2022, Musk officially bought Twitter. Tesla CEO sold $8.4 billion of shares of his company to complete the deal.


  • Tron’s stablecoin USDD is launched.
  • The Luna Foundation bought $1.5 billion worth of Bitcoin to strengthen its stablecoin reserve.
  • The Turkish Economy Bank announced that it has launched the metaverse fund.
  • Terra’s stablecoin UST lost the $1 pair when the dates showed May 9, 2022. After the turmoil, the leading cryptocurrency Bitcoin fell below the $30,000 level.
  • On May 10, Binance announced that it has stopped UST and LUNA withdrawals.
  • Terra’s native cryptocurrency, LUNA, also lost 80 percent, and the LUNA supply has increased more than 30 times in four days.
  • Terra blockchain has stopped working.
  • Terra founder Do Kwon announced that they would save the UST and soon released a recovery plan. Kwon announced the release of LUNA 2.0. It has been announced that investors will receive new tokens via airdrop. Do Kwon’s proposal was accepted by user vote.
  • Binance announced that it has delisted the UST and LUNA trading pairs.
  • Terra Labs’ legal team announced that he is resigning.
  • After the collapse of the Terra ecosystem, G7 took the cryptocurrency regulations on its agenda.
  • SWIFT has started testing CBDC integration.
  • Vitalik Buterin marked August for Ethereum’s transition from proof-of-work algorithm to proof-of-stake.
  • Cryptocurrency regulations were on the agenda at the Presidential Complex.
  • LUNA 2.0 was listed on Binance and after its listing, its value has increased by 40 percent.


  • The CFTC has sued cryptocurrency exchange Gemini for misleading customers.
  • Luna 2.0 has dropped to an all-time low.
  • Tether’s stablecoin, USDT, was launched on the Tezos blockchain.
  • The US Securities and Exchange Commission has launched an investigation to examine whether Binance’s native token, BNB, is a security.
  • The US Securities and Exchange Commission has announced that it has launched an investigation into Terra’s sinking stablecoin, UST.
  • Presidential Communications Director Fahrettin Altun said that Turkey should be a part of the metaverse.
  • The Fed announced that it was raising interest rates by 75 basis points. This was recorded as the highest rate hike since 1994.
  • Bitcoin fell below the $20,000 level on June 18, 2022.
  • Albania has announced that it will impose a tax on cryptocurrencies from 2023.
  • Gary Gensler, Chairman of the US Securities and Exchange Commission, said that Bitcoin is a commodity.
  • The court ordered the liquidation of Three Arrows Capital, which was experiencing hard times after the collapse of UST and LUNA.
  • The European Union has passed the cryptocurrency bill.


  • Cryptocurrency exchange FTX US has approved the acquisition of BlockFi.
  • Cryptocurrency hedge fund Three Arrows Capital has filed for Chapter 15 bankruptcy.
  • The Bank of England Financial Policy Committee (FPC) reported that crypto does not pose an immediate risk to the financial system but needs to be addressed.
  • The US Treasury Department has released its first report on the regulation of digital assets.
  • Twitter sued Elon Musk for failing to complete the $44 billion acquisition.
  • Gary Gensler, Chairman of the U.S. Securities and Exchange Commission (SEC), said the agency could use its executive power to regulate the crypto industry.
  • Russian President Vladimir Putin has passed a law banning payments with digital assets.
  • According to reports in South Korea, the house of Daniel Shin, co-founder of Terrafrom Lab, in Seoul was raided by prosecutors the other day.


  • Researchers at the University of Illinois have discovered vulnerabilities in the Bitcoin (BTC) Lightning Network that could lead to the theft of 750 BTC.
  • The Netherlands announced that it has arrested the suspected Tornado Cash suspect in Amsterdam.
  • Singapore’s Nanyang Technological University (NTU) and the Algorand Foundation announced that they are preparing to establish a blockchain research center.
  • MTV has added ‘Best Metaverse Performance’ to its video and music awards this year. South Korean band BlackPink received the award.
  • This year, Nakamoto added a new one to my claims. Australian computer engineer Craig Wright claimed to be Satoshi Nakamoto, the founder of Bitcoin (BTC).
  • Thodex Founder Fatih Özer was caught in Albania.
  • Formula 1, the world’s largest racing organization, has filed two separate trademark applications for NFT and cryptocurrency.
  • Blackrock and Coinbase partnered to expand access to crypto among institutional investors.


  • The Ethereum Merge took place, but investors did not find what they wanted in terms of price.
    Cardano performed the Vasil Hard Fork.
  • Queen of England II. After Elizabeth’s death, the market was flooded with cryptocurrencies and NFTs on behalf of the queen.
  • The European Central Bank (ECB) is exploring distributed ledger technology (DLT) to improve the efficiency of interbank payments.
  • Interpol has issued a red notice for Terraform Labs co-founder Do Kwon.
  • The US will collaborate with Ripple to further explore the digital dollar project and create a technical sandbox.


  • The SEC has opened an investigation against Kim Kardashian for illegal advertising.
  • Tesla and SpaceX CEO Elon Musk made an offer to buy Twitter for $54.20 per share.
  • South Korea froze the crypto holdings of Terra CEO Do Kwon.
  • Cryptocurrency exchange Binance has announced that BNB Chain has been discontinued.
  • The European parliament has approved the digital asset legislation.
  • Bored Ape Yatch Club creator Yugo Labs has been investigated by the SEC.
  • The Texas regulator began investigating FTX US and Sam Bankman-Fried.
  • Ethereum scaling protocol Aptos has released its mainnet.
  • As a result of the operations held in 8 provinces in Turkey, cryptocurrencies worth 40 million dollars were seized.
  • The Chairman of the Commodity Futures Trading Commission (CFTC) stated that Ethereum is a commodity.
  • BitMEX CEO Alexander Höptner announced that he is stepping down.
  • It has been announced that Tesla CEO Elon Musk will become the new owner of Twitter in three days.
  • Global tech giant Google has launched a cloud-based node engine for Ethereum developers.
  • Binance becomes Twitter’s equity investor. Binance CEO Changpeng Zhao supported Elon Musk’s acquisition of Twitter.
  • Elon Musk has dissolved the Twitter board and remains the sole executive.


  • FTX walked with Binance to refund users at a one-to-one rate. SBF also thanked CZ for his assistance.
  • It has been revealed that the FTX exchange has stopped withdrawals. Analysts, citing on-chain data, stated that the exchange did not perform the withdrawal process for hours.
  • FTT, the cryptocurrency of FTX, fell from $ 22 to $ 2.39. Behind this was the stock market’s inability to process withdrawals and the fear of possible collapse.
  • The US Commodity Futures Trading Commission (CFTC) announced that it is monitoring the relationship between Binance and FTX.
  • Bitcoin (BTC), the leading cryptocurrency, experienced a decrease of about 15 percent, falling below $ 17,150.
  • Cryptocurrency exchange Binance has raised its insurance funds to $1 billion following the recent crypto volatility.
  • FTX TR announced that it has stopped withdrawals.
  • US regulators the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) have launched an investigation for FTX.
  • Binance has stopped buying FTX.
  • FTX has suspended new users from registering on the exchange.
  • FTX Japan announced that it is suspending operations.
  • FTX declared bankruptcy, filing Chapter 11
  • FTX US has stopped withdrawals.
  • Crypto exchange FTX was hacked and money outflows occurred from the exchange.
  • Binance announced that it is freezing FTT deposits.
  • Kraken, FTX and Alameda froze their assets.
  • The Financial Crimes Investigation Board (MASAK) has launched an investigation on FTX.
  • FTX allegedly has about 1 million creditors.
  • US officials wanted to bring FTX CEO Sam Bankman-Fried into the country for questioning.
  • Investment firm Genesis has stopped withdrawals from its Genesis Capital Global arm.
  • Temasek, Singapore’s state investment fund, zeroed in on FTX investments.
  • The Albanian court ordered the extradition of Thodex founder Fatih Özer to Turkey.
  • Restructuring and appointing a new CEO, FTX began scrutinizing its assets.
  • It has been claimed that Ripple company wants to buy FTX assets.
  • Crypto exchange FTX reportedly owes $3 billion to its biggest creditors.
  • Crypto company Genesis has announced that it will go bankrupt if it fails to find funds. It received a negative response from the Binance exchange.
  • The Financial Crimes Investigation Board (MASAK) confiscated the assets of Sam Bankman-Fried and related persons as a result of the lawsuit filed against FTX.
  • Singapore state investment fund Temasek came under scrutiny by the government as it was zeroed out of its FTX investments.
  • Bitfront has decided to cease operations, citing the impact of the FTX events.
  • BlockFi, which has filed for Chapter 11 bankruptcy, has announced that it has $355 million in assets in FTX.


  • FTX’s Japan arm plans to return funds to Japanese customers.
  • Browser platform Opera has announced that it will offer NFT rendering service next year.
  • Elon Musk has disclosed documents showing that Twitter is being used extensively by Joe Biden and his team for censorship.
  • Genesis is in debt of $900 million due to the Earn protocol with Gemini. The debt has to be paid to Gemini customers.
  • Sam Bankman Fried, former CEO of FTX, admitted to Alameda Research that he had been given special treatment in the past.
  • Debt liability rises after Genesis halts withdrawals. Genesis’ $900 million debt has doubled.
  • Sam Bankman-Fried said that the statements of John Ray, the new CEO of FTX, were false.
  • Emini announced that he would set up a committee for the Earn protocol, which they carried out with Genesis.
  • Mazars has announced that it will audit the KuCoin exchange’s proof of reserve.
  • US federal prosecutors investigated Sam Bankman-Fried on suspicion of manipulation in the Terra crisis.
  • Amber Group has terminated its partnership with Chelsea.
  • Sam Bankman-Fried appeared on his first hearing after his arrest in the Bahamas.
  • Sam Bankman-Fried’s request to be released on bail was denied by the judge.
  • Amber Group, which was on the verge of bankruptcy, raised a fund of $ 300 million.
  • As Binance reported, auditing firm Mazars has announced that it is withdrawing from serving all crypto clients.


Please enter your comment!
Please enter your name here