Quick Take:

• Crypto Twitter is known for impulsive and reckless tweeting.
• High-profile figures in the crypto industry have tweeted statements that have not aged well.
• The community should be more mindful of its digital footprint and the potential consequences of impulsive tweets.

Crypto Twitter Needs to Reconsider Its Posting Habits

The crypto community on Twitter, often referred to as Crypto Twitter, has a reputation for impulsive and sometimes reckless tweeting. It’s a space where influential figures in the industry often post without fully considering the potential long-term impact of their words. The recent activities of Ryan Salame, the former FTX executive who was sentenced to 7.5 years in prison, highlight this issue. Salame, who had been silent on Twitter since the collapse of FTX, reemerged online, posting nostalgic retweets from 2022 and an enigmatic message, “hot damn, this is going to get interesting quickly.”

Salame’s timeline serves as a reminder of the unpredictability and volatility of Crypto Twitter. His last tweets before his silence included retweets of Sam Bankman-Fried reassuring customers and a promise from Caroline Ellison to buy FTT from CZ at $22. These tweets now read like a time capsule of misplaced confidence and looming disaster.

The tendency to tweet without foresight isn’t limited to Salame. The crypto industry has a long history of notorious tweets. For example, the creator of Terra, Do Kwon, famously tweeted, “Deploying more capital – steady lads,” just before the collapse of his algorithmic stablecoin, which had far-reaching consequences for the market. Similarly, tweets from Sam Bankman-Fried were used as evidence in the legal case against him following the FTX debacle.

This impulsive tweeting isn’t unique to Crypto Twitter but has been a hallmark of online financial forums. The WallStreetBets subreddit, for instance, became infamous for its users’ brash and often reckless posts about stock trading. However, unlike Reddit, which had volunteer moderators to ensure posts didn’t violate securities laws, Crypto Twitter lacks such oversight. This absence of moderation allows for an unfiltered and often chaotic stream of content, where users might share potentially damaging information without a second thought.

Aimlessly scrolling through Crypto Twitter can sometimes lead to questioning the logic behind what people choose to share. Instances range from the now-convicted Mango Markets exploiter justifying his actions to innocuous tweets supporting controversial figures. The lack of foresight in these posts can have serious repercussions, both legally and reputationally.

The crypto industry attracts many young people who may not fully grasp the long-term implications of their digital footprints. In a world where online presence increasingly matters, it’s crucial for members of the crypto community to think more critically about what they post. Reckless tweeting not only puts individuals at risk but can also harm the broader perception of the crypto industry.

We can’t always predict which posts will age well and which won’t. However, it’s essential to strike a balance between expressing opinions and being mindful of potential future consequences. The crypto community should consider the weight of their words and the lasting impact they can have.

In conclusion, while Crypto Twitter has its charm and vibrancy, it also comes with responsibilities. The community should strive to foster a more thoughtful and responsible approach to online interactions. By doing so, it can help build a more resilient and reputable crypto ecosystem.

Back to Salame as this week’s example. Even though Salame did plead guilty and therefore is unlikely to appeal his sentencing, tweeting in this attention-seeking way can’t be good for anyone involved. For example, he followed up his first tweet with a series that included his assertion that he had “no idea” about that $55 million personal loan he received from FTX:

“Not a dollar ever touched my account and the receiver had no clue I didn’t know about it. Fun thing to learn while my whole world was imploding.”

There are still three other FTX executives working with the government — Ellison, Gary Wang and Nishad Singh — and who knows what Salame could tweet that could theoretically affect their sentences. He has until the end of August to surrender himself for his prison sentence — that’s an entire summer of potentially destructive tweets.

So I ask all of Crypto Twitter, especially those who have been or possibly could be the subject of legal action in the future (which seems ever more likely for crypto associates in the US) — don’t tweet that weird thing. Just don’t do it. The short-term dopamine rush of getting likes and retweets can’t possibly be worth whatever hypothetical legal or social repercussions could come your (or your compatriots) way down the line.

It’s like the old adage: If you don’t have something nice to say, don’t say anything at all. But in this case: If you don’t have something not-insane to tweet, don’t tweet anything at all.