Crypto Collapse & Scandals
The 2022–2023 cascade of crypto bankruptcies and fraud cases — FTX, Terra/Luna, Celsius — that turned "Web3" hype into cautionary memes and congressional hearings.
Overview
After years of influencer-promoted coins and "not financial advice" threads, Terra's May 2022 collapse wiped billions and shook stablecoin faith. Celsius, Voyager, and BlockFi froze withdrawals; FTX imploded in November 2022 with Sam Bankman-Fried facing fraud charges. Reddit and Twitter filled with loss screenshots, "trust me bro" jokes, and congressional hearing clips. The era rewired how mainstream audiences saw crypto marketing — especially celebrity endorsements and NFT tie-ins.
Cultural scores
Editorial estimates of cultural weight — Current Popularity tracks how much people are posting about this now, not historical fame.
Current Popularity = how actively people are posting about this today. Influence = lasting footprint. Cringe = online reception. Brainrot = absurdist energy. How scoring works
Timeline
1
May 2022: TerraUSD and Luna collapse erased tens of billions in market value
2
Summer 2022: Celsius, Voyager, and other platforms halted withdrawals
3
November 2022: FTX filed for bankruptcy; Sam Bankman-Fried was later convicted of fraud
4
Spawned congressional hearings, meme discourse, and skepticism toward influencer crypto promos
Media
Bankruptcy of FTX — Wikipedia
https://en.wikipedia.org/wiki/Bankruptcy_of_FTX
Related entries
Culturally linked — not random recommendations.
NFT Boom & Bored Ape Yacht Club
EventThe 2021–2022 NFT mania — profile-picture projects, celebrity mints, and Bored Ape Yacht Club as the face of JPEG speculation before the crypto winter.
GameStop / WallStreetBets
EventThe January 2021 GameStop short squeeze — Reddit's r/WallStreetBets vs. hedge funds, memes, and retail-trader chaos.
Influencer Culture
TrendThe internet habit of treating followings as social power — lifestyle curation, parasocial fame, and the soft sell of everyday aspiration.
Reddit Culture
TrendUpvotes, subreddits, AMAs, and hive-mind humor — the forum that turns niche interests into front-page events.
References
Sources behind this entry. Prefer primary reporting and established culture archives over rumor.
- Bankruptcy of FTX — Wikipedia
en.wikipedia.org