News related to crypto was based almost exclusively on Bitcoin between 2009 and 2012. It wasn’t until 2013 – 2014 that news outside Bitcoin’s price moves, and blockchain generally began to see wider focus. 👀
Things picked up in late 2017 after Bitcoin nearly hit $20k. From 2017 on, things began to pick up as institutions and new money began flooding the market. Here are some of the top stories of the past ten years.
2013: The Year of the Lone Manipulator
- Bitcoin’s Unprecedented Spike: Researchers uncovered that a single individual was responsible for Bitcoin’s surge from $150 to $1,000 in 2013. 🫢
2014: Scandals and Sentences
- The Fall of Mt. Gox: Early 2014 witnessed the collapse of Mt. Gox, once the biggest Bitcoin exchange, which lost over 700,000 of its users’ bitcoins.
- Charlie Shrem’s Arrest: The high-profile arrest and subsequent two-year prison sentence of Charlie Shrem for federal money laundering charges linked to Silk Road. 👮
2015: Hacks and Highs
- Bitstamp’s $5 Million Hack: Bitstamp admitted to losing “less than 19,000 BTC” in a major hack.
- Nasdaq’s Blockchain Trial: Nasdaq announced its exploration into blockchain solutions for stock trading.
- Ross Ulbricht’s Life Sentence: Silk Road operator Ross Ulbricht was sentenced to life in prison.
- Satoshi Nakamoto Speculations: Reports from Wired and Gizmodo suggested that Satoshi Nakamoto might be Australian entrepreneur Craig Wright. 👨
2016: Ethereum Emerges, Wright’s Claims, and Halving
- Ethereum’s Homestead Release: Ethereum launched its first production version, Homestead, marking its rise as a major blockchain platform.
- Craig Wright’s Bitcoin Claim: Craig Wright publicly claimed to be Satoshi Nakamoto, a claim met with skepticism.
- Bitcoin Halving: The much-anticipated Bitcoin halving occurred with minimal market impact. 💡
2017: ETF Rejections and Record Highs
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- The Winklevoss ETF Rejection: The SEC rejected the Winklevoss twins’ proposal for a Bitcoin ETF.
- Bitcoin’s Price Surge: Bitcoin’s price soared past $10,000, reaching all-time highs. ⚡
2018: The Year of Losses and Lessons
- Bitconnect’s Closure: Bitconnect closed its operations following regulatory warnings, with its BCC token plummeting 87%.
- Job Losses in Crypto: The crypto market crash led to significant job losses in the industry.
- ICO Failures: The year saw numerous ICOs facing legal troubles and failures.
- Bitcoin Cash Forks: Bitcoin Cash underwent two forks, leading to significant community division. ➗
2019: Bakkt, Libra, and Taproot
- Bakkt’s Bitcoin Futures Launch: Bakkt launched its Bitcoin futures trading platform.
- Facebook Announces Libra: Facebook’s announcement of its digital currency, Libra, stirred market excitement and regulatory concern.
- Bitcoin’s Taproot Upgrade: Bitcoin’s major upgrade, Taproot, went into effect, enhancing privacy and efficiency. 🥕
2020: DeFi’s Rise, PayPal’s Entry, and MicroStrategy’s Bet
- DeFi’s Explosive Growth: Decentralized finance (DeFi) saw a massive increase in total locked value.
- PayPal Embraces Crypto: PayPal announced support for Bitcoin and other cryptocurrencies.
- MicroStrategy’s Bitcoin Investment: MicroStrategy adopted Bitcoin as its primary corporate reserve asset. 💿
2021: NFTs, Dogecoin, and El Salvador
- NFT Market Explosion: Beeple’s $69 million NFT sale marked a turning point for NFTs.
- El Salvador’s Bitcoin Move: El Salvador adopted Bitcoin as legal tender, a global first.
- Ethereum’s EIP-1559: Ethereum launched a major upgrade, EIP-1559, changing its transaction fee model.
- Record DeFi Hack: Poly Network suffered a $600 million hack, one of the largest in DeFi history.
- China’s Crypto Ban: China intensified its crackdown on cryptocurrency, impacting global markets.
- Bitcoin ETFs and Taproot: The launch of the first U.S. futures-based Bitcoin ETF and the activation of the Taproot upgrade were significant milestones. 🚀
2022: The Year of Turbulence and Transformation
- ‘Crypto Bowl’ Ad Blitz: Major crypto firms dominated Super Bowl advertisements, signaling mainstream acceptance.
- Major Crypto Hack and Rate Hikes: The Ronin network hack and the U.S. Federal Reserve’s interest rate hikes marked significant events.
- Terra-LUNA’s Collapse: The dramatic crash of TerraUSD and LUNA sent shockwaves through the crypto market.
- Ethereum’s Merge: Ethereum’s transition to a proof-of-stake consensus mechanism marked a major milestone for the network.
- FTX’s Fall: FTX’s rapid collapse and bankruptcy filing in November shook the industry, leading to widespread repercussions. 🫖
2023: Winning, Winning, and More Winning
- Celsius CEO’s Arrest: Alex Mashinsky, founder of Celsius, was arrested, casting a shadow over the crypto lending sector and its promises of high returns.
- SEC’s Loss to Grayscale: A U.S. court criticized the SEC’s decision to deny Grayscale’s Bitcoin ETF application, paving the way for potential approvals in 2024.
- Sam Bankman-Fried’s Guilty Verdict: FTX founder Sam Bankman-Fried was found guilty on multiple counts of fraud, marking a significant moment in crypto regulation and enforcement.
- XRP Ruled Not a Security: In a landmark decision, a U.S. District Judge ruled that XRP is not a security, dealing a blow to the SEC and setting a precedent for digital assets.
- Banks Collapse: The failure of Silicon Valley Bank and other financial institutions, including crypto-friendly banks like Silvergate, caused instability in the banking sector.
- Do Kwon’s Arrest: Terraform Labs CEO Do Kwon was arrested following the TerraUSD collapse, highlighting the risks and regulatory challenges in the stablecoin market.
- NFT Market Downturn: Despite the emergence of new players like Blur, the NFT market saw a significant decline in trading volume, reflecting a broader market correction.
- CZ and Binance’s Regulatory Challenges: Binance faced regulatory scrutiny, with its founder Changpeng Zhao stepping down amid legal challenges.
- Spot Bitcoin ETFs on the Horizon: The potential approval of spot Bitcoin ETFs in the U.S. signaled a possible influx of institutional investment into the crypto market. 😃