Crypto can get weird: The 5 strangest stories of the industry in 2022

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From a hack leading to a rap career and Netflix series to a bankrupt company's token soaring 4,000%, these stories are stranger than fiction. Follow the link for more.

FTX had about 5.1 million CEL tokens, amounting to 90% of the total circulating supply on exchanges.

Binance’s surprising letter of intent to acquire the collapsing FTX exchange is another weird story of 2022. At the time, many in crypto believed FTX was a solvent, well-run company. When Binance announced its intent to liquidate its holdings of FTX Token following speculation regarding the solvency of FTX, what was seen as a rivalry between Binance and FTX soon turned into a potential buyout no one was expecting.

This afternoon, FTX asked for our help. There is a significant liquidity crunch. To protect users, we signed a non-binding LOI, intending to fully acquire— CZ Binance Binance CEO Changpeng Zhao added to those concerns when he tweeted, “This afternoon, FTX asked for our help. There is a significant liquidity crunch. To protect users, we signed a non-binding LOI, intending to fully acquire FTX.com and help cover the liquidity crunch. We will be conducting a full DD in the coming days”.

The ECB said that Bitcoin is “rarely used for legal transactions” and that “real Bitcoin transactions are cumbersome, slow and expensive.” The central bank daringly wrote that Bitcoin has never been used “to any significant extent for real-world legal transactions.”According to the ECB, Bitcoin has benefited from “waves of new investors” while not being suitable as an investment. It doesn’t generate cash flow or dividends, nor can it be productively used or “provide social benefits.

 

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What were the weirdest stories in the crypto industry last year?

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'Comedic rapper' Heather Morgan and husband Ilya Lichtenstein arrested for allegedly laundering crypto connected to 2016 Bitfinex hack. Both proclaimed innocence and were released on multimillion-dollar bonds.

It was weird, but it brought us a lot of dips to spend USDT on.

My favorite is about Bitfinex and TikTok rappers

Great article!

Plenty of bizarre things but mostly scams, rugpulls and crashes

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I found a very big bug when transferring ADA to another wallet address which causes the transfer to stop for 24 hours and ADA transactions to stop. If this bug continues for 24 hours, Cardano and all currencies in this network will crash. Soon the ADA chart will fall to $ 0.05

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Story about Bitfinex hackers is actually my favorite.

So weire but not surprising because it is Crypto 😁

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Do things get weirder than the orgy rumors surrounding FTX?

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Never heard of this story, but it looks very funny

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What about something nobody talks about: Cyrpto tokens are issued to EIGHT decimal places and then quoted against a fiat rate (eg USD), allowing for a NON-REGULATED STOCK market that's a million times worse than the 'penny stocks' market! Everybody's missed that part of the scam!

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From Terra to FTX, 2022 has given us many weird crypto stories. While investors have been enduring a bear market that saw the crypto industry sink below the $1 trillion market capitalization mark, adoption in the space has been growing, and old mysteries were finally solved.

Do we really want crypto, Bitcoin in particular, to be regulated?

Crypto industry indeed strange

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