Terra/LUNA founder Do Kwon: “Hang in there, guys.”

On 9 May 2022, as the UST algorithmic stablcoin within the Terra project ecosystem began to lose parity against the US dollar, its founder Do Kwon posted a short tweet in an attempt to calm the growing panic.

Allocating more capital – hang in there guys.

Do Kwon’s tweet

Terra’s fate is well known – Do Kwon’s team never managed to stabilise the situation. The project eventually collapsed completely, causing tens of billions of dollars in damage to the industry.

Terra/LUNA founder Do Kwon: “Your size is not the size”

And this is another “pearl” from Do Kwon, published two months before the aforementioned tweet. Back then, many people were already beginning to speculate about an impending disaster for Terra. Among them was a popular crypto trader nicknamed Algod, who posted the following tweet in early March.

If LUNA collapses below its new all-time highs, I will short it with a large trade position size. It’s a massive pyramid scheme, I’m sure the venture capitalists are hedging with futures too.

And that’s how Kwon responded.

Yes, but your size is not the size.

Another Do Kwon tweet.

Do Kwon was still a billionaire that day. He had generally allowed himself to brag about his wealth and transaction volumes more than once before. Apparently, there were no more such tweets from him after the Terra collapse.

Celsius CEO Alex Maszynski: “All funds are safe.”

The collapse of Terra set off a chain reaction of bankruptcies of other cryptocurrency companies. One of them was the Celsius platform. Rumours of its dire financial situation emerged almost immediately after UST and LUNA plummeted in value. To reassure customers, Celsius CEO Alex Maszynski posted the following tweet on 12 May.

Despite extreme market volatility, Celsius has not suffered significant losses. All funds are safe.

The original tweet has been deleted, only the quote remains

A month later, the platform suspended withdrawals and a few weeks later filed for official bankruptcy due to a liquidity crisis. Maszynski left his post after that and deleted the tweet. However, the message managed to become one of the 2022 quotes for the entire market.

Voyager company: “We have the experience to survive any bearish trend”

Next in line for bankruptcy was Voyager Digital. Its collapse exposed one unpleasant truth about the crypto market: the serious centralization of big business in the industry, while the main idea behind crypto is precisely decentralization. Last year, Voyager made a large and unsecured loan to crypto fund Three Arrows Capital (3AC). When 3AC also went bankrupt, it simply couldn’t pay Voyager back.

After Terra collapsed, Voyager representatives also tried to calm the panic among investors. Here’s one of the tweets from the platform’s official account.

Our straightforward low-risk approach to asset management is the result of decades of experience guiding companies through market cycles. We have the experience to back up our decisions and weather any bearish trend.

Voyager tweet

As early as July 5, Voyager’s management acknowledged the hopelessness of its own situation and filed a formal bankruptcy petition. Most interestingly, the company may have received financial backing from the then CEO of major cryptocurrency exchange FTX, Sam Bankman-Fried. However, the deal didn’t happen, and a few months later FTX itself also went bankrupt.

TechCrunch news outlet: “The collapse of Etherium is inevitable.”

The news outlet’s tweet with this message refers to a 2018 TechCrunch article. Its author Jeremy Rubin predicts that “the value of ETH will fall to zero in the coming years”. The journalist questioned the aims of the Etherium development team, namely the move to the new Proof-of-Stake consensus algorithm. Rubin said that in such a case, Etherium would simply lose relevance among its investors.

The transition to PoS was indeed a long-term mission of the Ethereum Foundation, and it could not be accomplished until September 2022.

Ethereum exchange rate since the beginning of September

However, despite all the dire predictions, Ethereum never depreciated to zero. The price of the cryptocurrency did indeed fall after the transition, but that fall was coupled with a negative news backdrop for the entire crypto market. Overall, TechCrunch’s tweet can be added to the hundreds of “funerals” of different digital assets throughout the history of the industry.

Hacker Abraham Eisenberg: “What are you going to do, arrest me?”

Last October, popular crypto trader Eisenberg asked on Twitter if he should watch the TV series ‘Breaking Bad’ to understand all the references from it. Another Spreek user advised Eisenberg to evaluate a spin-off of the series called Better Call Saul. In response, the trader tagged the account of inversebrah, a popular crypto-enthusiast who is involved in many dramas within the crypto community.

Most interestingly, inversebrah is usually mentioned by others in relation to users who post obviously bizarre or unfunny things on Twitter. This was hinted at by Eisenberg, but he issued the following message.

What are you going to do, arrest me?

Another great quote

A couple of months later, Eisenberg was indeed arrested. It turns out he was implicated in a lengthy scam and hacking of the decentralised platform Mango Markets. Now the trader’s tweets have become a new meme in the cryptosphere.

Fortune publication: ‘Sam Bunkman-Fried, the next Warren Buffett’

Former FTX executive Sam Bankman-Fried received a huge amount of praise in the popular media before the collapse of his FTX crypto exchange. Among them is Fortune magazine, which last August described Sam as “the next Warren Buffett, white knight of crypto and prince of risk”.

Fortune’s praise for Sam

In November, the world clearly saw just how much Bachman-Fried loves risk. The management of his exchange practised illegal use of customer funds, unsecured loans and many other things that are enough for a prison sentence of dozens of years.

Incidentally, in this Sam is really like one billionaire – Bernard Madoff, founder of the biggest pyramid scheme in history, which “went bust” during the 2008 global financial crisis.


This selection clearly shows just how unique the cryptocurrency community is. It's full of niche memes that no one outside the industry would understand. Consequently, digital asset owners find reasons to have fun even when the top coins lose more than 70 percent of their value in a year. Perhaps this is what allows the digital asset market to not only recover from collapses, but also to set new price records.


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