US Midterm Elections and FTX Collapse: Here’s How Crypto Twitter is Reacting

Today, there are two major events playing out that will set the course of the crypto market in the future: the US midterm elections and the near-collapse of FTX. And Twitter is blowing up with opinions, satire, memes, and whatnot.

In a press release shared on Twitter, the FTX announced that it had filed for Chapter 11 bankruptcy. FTX’s founder, Sam Bankman-Fried has stepped down as CEO with immediate effect.

1) Hi all:

Today, I filed FTX, FTX US, and Alameda for voluntary Chapter 11 proceedings in the US.

— SBF (@SBF_FTX) November 11, 2022

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US Midterm Election Results

Midterm elections are also under way in the US and the results are coming in. Republicans are getting closer to a 218-seat House majority, but the expected number of seats is shrinking

Republicans have so far gained 213 seats, while Democrats have 206. A total of 218 seats are required to establish a majority in the 435-member House of Representatives

When it comes to Senate, Democrats have secured 48 seats while Republicans’ have managed to win 49 seats. Control of the Senate now hinges on the result of three states: Arizona, Nevada – and Georgia. There is a delay in results as counting takes more time in close contests.

Keeping calm is not what Twitter is known for. So let’s dive right into how people are reacting to these events.

Cryptocurrency gang must be grateful for the timing of the latest epic crash. It’s happening amid a major US election and the self-immolation at Musk’s Twitter. Those take attention away from the reality that the “crypto marketplace” is a grift-laden mirage, screwing suckers.

— Dan Gillmor (@dangillmor) November 11, 2022

I have an idea that save crypto permanently.

Ok hear me out: it’s a crypto exchange. EXCEPT the exchange just lets your crypto sit there. They don’t take it and over over-leverage it on risky bets. They make money based off fees you pay on trades.

Who is ready to invest?! 👇

— Ben Armstrong (@Bitboy_Crypto) November 10, 2022

Homeless Matt Damon Forced To Sell Kidney After Losing Everything In Crypto Pump And Dump Scheme https://t.co/libFZBX9M1 pic.twitter.com/Wn6Hhip9ls

— The Onion (@TheOnion) November 10, 2022

me looking at my crypto portfolio today:pic.twitter.com/KUTSEnAgUg

— yzy.eth (@LilMoonLambo) November 8, 2022

“Sir, another crypto company just blew up” pic.twitter.com/iPJpR9NJsB

— litquidity (@litcapital) November 11, 2022

“sorry 🥺” #FTX #cryptocrash pic.twitter.com/t8HLdvhLva

— CryptoMutant (@The_Real_Mutant) November 11, 2022

I should sold 1 year ago#cryptocrash #btc #altcoin #memes pic.twitter.com/Wn9JTjFKNG

— GEM HUNTER 😈 (@TrueGemHunter) November 9, 2022

Don’t worry hold is gold sell your House and invest to crypto I’m also now homeless moon soon lfg#cryptocrash #Cryptocurency #cryptomarket pic.twitter.com/VUDJ4ynPzk

— bunny (@Bunny14568256) November 8, 2022

Is it the right time to buy the dip? #cryptocrash #bitcoins #Bitcoin #BitcoinCrash #ElonMuskIsATroll #CZ pic.twitter.com/p3ABDGo73T

— Rasta Studio (@Rasta_StudioNFT) November 9, 2022

Just made this. Gonna just leave this here.#Coinbase #SamBankmanFried #SBF_FTX #cryptocrash #Alameda #BlockFi FTX US pic.twitter.com/eRblVYfv0m

— Aquarian (@AquarianGG) November 11, 2022

Also Read: Bored Ape Yacht Club NFT Prices Plummet After FTX Crashes The Crypto Market

Dhirendra is a writer, producer, and journalist who has worked in the media industry for more than 3 years. A technology enthusiast, a curious person who loves to research and know about things. When he is not working, you can find him reading and understanding the world through the lens of the Internet. Contact him at [email protected]

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.