Top 10 Most Hated Crypto Celebs of 2022

Key Takeaways:

  • The total value of crypto assets dropped from $2.5 billion in Jan. to $832 billion today.
  • SBF and Do Kwon take the lead as the most disliked individuals in the crypto community.
most hated crypto celebs of 2022
Kim Kardashian is the 8th most hated crypto celebrity for promoting scam tokens.

LAGOS (CoinChapter.com) — 2022 will go down as one of the most difficult years for cryptocurrency investors as the actions of several individuals led to the massive decline recorded across the entire digital currency space.

In detail, the total market value of all crypto assets at the beginning of the year stood at $2.5 trillion. However, following a series of unfortunate events that wreaked havoc across the entire blockchain industry, the global crypto market cap now sits at $832 billion, according to data from Coingecko.

Events beginning with the catastrophic collapse of the TerraUSD stablecoin in the first half of 2022 triggered the start of a major downtrend in the crypto space. Other major events that wreaked havoc in the crypto space include the collapse of Three Arrows Capital, Voyager Digital, Celsius Network, FTX, and BlockFi, among others.

Notably, the actions of several prominent individuals in the crypto space caused the value of major cryptocurrencies to plummet. These actions have earned them a place on our list of most hated persons in crypto.

1. Sam Bankman-Fried

FTX CEO Sam Bankman-Fried a Democrat Money Laundering Machine?

Top of our list of the most hated person in the crypto industry is FTX’s Sam Bankman-Fried. Notably, Bankman-Fried and his associates are responsible for committing one of the biggest frauds of the century through FTX and Alameda Research.

Bankman-Fried is the most hated crypto because he stole around $10 billion of FTX customers’ money. SBF has since been arrested and charged with several counts of fraud. The embattled developer is currently facing up to 115 years in prison.

According to prosecutors, SBF provided false/ misleading information to investors and also attempted to hide his earnings through wire fraud.

Several reports also indicated that he used customers’ funds to organize orgies and buy luxury property in the Bahamas. There are also allegations that he donated millions of dollars to politicians to earn their favor and protection.

2. Do Kwon

Terra founder Do Kwon to lose his South Korean passport, while he denies $40B crypto freeze

Do Kwon, founder of now-defunct Terraform Labs, is our list’s second most hated crypto celeb. Kwon developed TerraUSD, a stablecoin and LUNA token, which suffered a spectacular collapse in May this year.

TerraUSD meltdowns had a domino effect on the rest of the cryptocurrency market, tanking the price of Bitcoin and accelerating the loss of $300 billion in value across the crypto industry.

Kwon attempted to revive Terra’s effort, resulting in a new Terra coin (LUNA), while the current LUNA coin will change to Luna Classic (LUNC). While the attempt failed, Kwon repeatedly demonstrated remorse for his actions.

Kwon is wanted in several countries, including South Korea after Interpol issued a red notice for him.

3. Alex Mashinsky

Top 10 most hated crypto celebs of 2022

In third place on our list of the most hated people in the crypto community is Celsius’s former CEO, Alex Mashinsky. Mashinsky was responsible for the firm when it froze customer withdrawals due to “extreme market conditions.”

Mashinsky was allegedly responsible for a series of poor trades in early 2022 that precipitated the crypto lender’s downfall.

As a result, Celsius was one of the first major crypto lenders to freeze user withdrawals as crypto markets crashed in mid-June this year. After weeks of silence, the firm eventually filed for bankruptcy, revealing a $1.2 billion hole in its balance sheet.

Meanwhile, several reports indicated that Celsius has been secretly insolvent since 2019. Furthermore, they posited that Mashinsky had made false and misleading statements to exaggerate the firm’s financial health. Hence, his placement as the third most hated crypto celeb of 2022.

4. Kevin O’Leary

Kevin O’Leary slams Binance’s CEO over role in FTX collapse

Billionaire investor Kevin O’Leary is one of Canada’s most recognizable faces. As a star of the business reality series Shark Tank, O’Leary has to make high-stakes judgment calls on budding entrepreneurs who are gunning for his investment.

However, O’Leary is the fourth most hated crypto celeb of 2022 because of his affiliation with Sam Bankman-Fried’s FTX. O’Leary, in Aug. 2021, made a terrible call when he threw his weight behind Sam Bankman-Fried.

He signed a multi-year deal and has since admitted that he accepted $15 million to serve as a spokesperson for the FTX brand.

Being the loyal ambassador he was, O’Leary came out defending SBF when everyone else criticized him. In a post-collapse chat with the Crypto Banter podcast, O’Leary stated, “SBF was one of the most brilliant traders in the crypto universe.”

Asked if he would invest in SBF again, he said he would. However, in a now-deleted tweet, O’Leary said, “I’d rather invest in an entrepreneur who has failed before than one who assumes success from day one.” Furthermore, On Dec. 15, O’Leary testified before Congress that FTX’s rival Binance intentionally put the firm out of business.

5. Avraham Eisenberg

Most hated crypto celeb, Top 10 Most Hated Crypto Celebs of 2022

Avraham Eisenberg is fifth on our list of the most hated crypto celebs of 2022. He is responsible for one of 2022’s larger exploits in the decentralized finance space.

Eisenberg, on Oct. 11, drained Solana-based decentralized exchange Mango Markets of roughly $110 million. In February, he was accused of embezzling $14 million from Fortress DAO, a project for which he was the lead developer.

Eisenberg abused the DeFi project’s treasury redemption mechanism to redistribute remaining funds to token holders as the DAO closed down operations. However, the United States Department of Justice on Tuesday, Dec. 27, announced the arrest of Eisenberg, charging him with market manipulation, among other offenses.

6. Su Zhu and Kyle Davies

Most hated crypto celeb, Top 10 Most Hated Crypto Celebs of 2022

Three Arrows Capital’s founders Su Zhu and Kyle Davies, are our sixth most hated crypto celebs of 2022. The duo built 3AC into a major crypto-trading firm before its collapsed and bankrupted creditors.

Davies and Zhu, who are currently on the run, blamed heavy losses from TerraUSD collapse for their firm bankruptcy, saying they were caught by surprise at the speed of the collapse of these tokens. In retrospect, Zhu said, the firm may have been too close to Terra’s founder, Do Kwon.

However, several close sources in the firm had claimed that funds were transferred out of 3AC before it collapsed. Meanwhile, Zhu and Davies continue to trade blame, leaving investors high and dry.

7. Caroline Ellison

Most hated crypto celeb, Top 10 Most Hated Crypto Celebs of 2022

Caroline Ellison, our seventh most hated crypto celeb of 2022, is Alameda Research CEO. She reportedly managed Alameda, which traded heavily on FTX and is said to have profited while other customers lost money.

FTX developed the crypto token FTT, and Alameda bought and sold it. Interestingly, Ellison and SBF were reportedly involved in an on-and-off relationship.

Ellison’s plea agreements were filed with the Southern District of New York on Dec. 18. Moreover, she has been found guilty of seven charges which might land her 110 years in jail.

8. Kim Kardashian

Most hated crypto celeb, Top 10 Most Hated Crypto Celebs of 2022

Kim Kardashian earned her place as one of the most hated individuals in the crypto industry due to her role in promoting scam cryptocurrency on her social media.

In June 2021, Kardashian posted an Instagram story inviting her 328 million followers to invest in EthereumMax. Kardashian and other celebrity advertisers were sued in January by people who had invested in the coin.

Boxer Floyd Mayweather Jr., basketball player Paul Pierce, and football player Antonio Brown are notable. They were all named defendants in the lawsuit, which a federal judge recently dismissed in the US District Court for Central California.

9. Gary Gensler

Most hated crypto celeb, Top 10 Most Hated Crypto Celebs of 2022

Securities and Exchange Commission Chair Gary Gensler features on our list because of his stringent and unfavorable actions towards the crypto community.

Gentler and US Senator Elizabeth Warren are well-known in crypto for their calls for crypto regulation. Warren in Nov. called on the SEC to “suit up” in the wake of the FTX failure. She also argued that the agency has fallen behind the crypto industry and failed to protect US citizens.

Gensler recently said the SEC would take more enforcement actions against crypto exchanges if they do not comply. He posited that cryptocurrency firms should be held liable for compliance with existing rules.

10. Michael Patryn

Top 10 most hated crypto celebs of 2022

Michael Patryn, who is believed to be a long-time serial scammer and the co-founder of QuadrigaCX, is our tenth most-hated crypto celeb of 2022.

Patryn, also known as Omar Dhanani, is a convicted fraudster. He was convicted in 2004 of credit card fraud and served 18 months in prison. Dhanani is also known for being active in pushing several Ponzi schemes.

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Most hated crypto celeb, Top 10 Most Hated Crypto Celebs of 2022

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