🚨 The 8 Events That Shook the #Crypto World 💥
Brace yourself for the jaw-dropping moments that shook the industry to its core 😱
A thread 🧵
1️⃣ Mt. Gox Hack (February 2014):
👉 The closure of Mt. Gox, once the largest #Bitcoin exchange, following a massive hack that resulted in the loss of 744,408 #BTC, leading to bankruptcy and investigations.
2️⃣ Bitcoin Cash Hard Fork (August 2017):
👉 A disagreement among #Bitcoin developers led to a hard fork, resulting in the creation of Bitcoin Cash (BCH), which aimed to address scalability concerns by increasing the block size.
3️⃣ Covid Crash (March 2020):
👉 The COVID-19 pandemic caused a sharp decline in Bitcoin's price, challenging its perception as a safe-haven asset and raising doubts about its reliability during times of crisis.
4️⃣ Beeple $69M NFT (March 2021):
👉 Beeple's NFT artwork titled "Everydays: The First 5000 Days" was sold for a record-breaking $69.3 million at Christie's, bringing attention to the booming NFT market.
5️⃣ El Salvador #Bitcoin Legal Tender (June 2021):
👉 El Salvador became the first country to adopt Bitcoin as legal tender, sparking both support and opposition from global financial organizations and experts.
6️⃣ Shiba Inu Parabolic Rally (October 2021):
👉 The memecoin #Shiba Inu (#SHIB) experienced an unprecedented surge in value, growing by 100,000,000% in just one year, driven by increased popularity and the launch of ShibaSwap.
7️⃣ DoKwon/Terra Collapse (May 2022):
👉 The collapse of the Terra ecosystem's stablecoin, UST, caused a significant crash, wiping out billions of dollars from the stablecoin market and impacting the broader #crypto sector.
8️⃣ SBF/FTX Failure (November 2022):
👉 This marked the downfall of FTX and its founder, SBF, as the third-largest #crypto exchange collapsed due to financial fraud. The industry witnessed a cascading effect, leading to bankruptcies and legal battles.
👉 From market crashes to regulatory hurdles, the #crypto industry has faced its share of challenges.
👉 But through it all, it emerged stronger and wiser.
👉 Lessons learned pave the way for a more transparent, responsible, and compliant future 🚀
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