2023 has been a turbulent year for the crypto markets, but X encapsulated the rollercoaster of sentiments and became the perfect ledger to recall what occurred.

2023 dragged some of the rotten apples from the bear market, which brought negative repercussions for the public image of the crypto industry. Fortunately, the market has shifted into what some may call a proper bull market as the halving ticks closer.

This article reviews the 10 most influential tweets from the crypto community in 2023.

SEC charges Kraken for unregistered staking: Stake or steak?
United States Securities and Exchange Commission Chair Gary Gensler kicked off 2023 by suing crypto exchange Kraken in an attempt to put some pressure on the crypto industry.

The SEC charged Kraken with failing to register their crypto asset staking-as-a-service program. Kraken agreed to pay a $30 million fine and remove its staking services from the U.S. market.

Gensler provided a video explanation worthy of being a crypto meme. As if speaking to a five-year-old, he clarified he was talking about “S-T-A-K-E, not S-T-E-A-K.”

The relevance of this case was that it went beyond simply Kraken and its products, as it sparked doubt among crypto users and companies surrounding the legality of staking in the United States.

While uncertainty and negative sentiment abounded amid the news, the SEC still hadn’t published clear guidelines for this kind of product for crypto-related services.

By the end of the year, the SEC upped the ante by alleging that Kraken operated as an unregistered exchange and adding that it mixed customer assets with its own. Kraken co-founder Jesse Powell expressed his disbelief, calling the SEC “masochists” who seemed not to be content with the prior $30 million fine. The lawsuit is ongoing, though there are signs of a possible SEC defeat.

Do Kwon: Catch me if you can
The fall of Luna and stablecoin TerraUSD (UST) was the catalyst for the last bear market.

The collapse of the stablecoin occurred in mid-2022, ditching retail victims around the globe and affecting many companies, such as Three Arrows, Voyager, Celsius, Digital Currency Group and many others.

Shortly after, the Republic of Korea authorities required Luna’s creator, Do Kwon, to explain what happened at Congress. The telephone rang, but the voicemail kicked in. Kwon was on the run to become the most wanted crypto fugitive in history.

Source - Coin Telegraph