Taking stock of 14 cryptocurrency supporters and blockers in 2024

Author: Josh O'Sullivan, CoinTelegraph; Compiled by: Deng Tong, Golden Finance

As 2024 draws to a close, for those who are driving and hindering the field, crypto The world of currencies has had a big year. One side embraces the technology and wants to push it forward, while the other side still hasn’t embraced it or is giving crypto a bad name.

This article highlights seven crypto movers and seven blockers who have had a significant impact on the development of cryptocurrencies this year.

Cryptocurrency fundamentalist Donald Trump

U.S. President-elect Donald Trump has become an advocate of Bitcoin and cryptocurrencies this year, proposing the establishment of a Bitcoin reserve and promising that the United States will become the world's "Cryptocurrency Capital".

His speech at the Bitcoin 2024 conference in Nashville was a pivotal moment in his campaign for cryptocurrency, as he changed the political narrative about BTC.

That’s a huge shift from where he’s looking in 2021. At the time, he said Bitcoin was "like a scam" and "didn't like it because it was another currency competing with the U.S. dollar."

Nayib Bukele

El Salvador’s President Nayib Bukele supports cryptocurrency adoption by continuing BTC’s status as a legal tender and through blockchain in its economy.

In a $1.4 billion loan deal with the International Monetary Fund (IMF), Bukele agreed to abandon some of the Bitcoin activity it had been conducting, but Bitcoin Office said it would “continue to purchase one Bitcoin per day currency". Hester Peirce Praise from the currency community.

Peirce pushed for reforms within the SEC to develop regulations that support the cryptocurrency industry’s long-term growth and unleash its potential innovation.

Brian Armstrong

Coinbase boss Brian Armstrong has been at the forefront of the 2024 wave of cryptocurrency support, engaging with lawmakers on cryptocurrency issues and joining the Stand With Crypto lobbying group in the U.S., U.K. and Australia. Big support for cryptocurrencies.

Coinbase has also been locked in a legal battle with the SEC, and recently tried to push cryptocurrency companies to stop working with law firms that employ former SEC litigators.

Vitalik Buterin

Ethereum ConnectionCo-founder Vitalik Buterin continues to push the boundaries of blockchain functionality, furthering decentralization and cryptographic innovation.

From proposing changes to Web3 wallets to improve security and privacy to defending against quantum computers that could break encryption, Buterin has been promoting cryptography and ways to protect it in the financial sector this year.

Senator Cynthia Lummis

Senator Cynthia Lummis has been a strong supporter of cryptocurrencies on Capitol Hill, proposing the idea of a US BTC investment strategy and advocating for BTC in mainstream discussions.

Last November, Lummis said the U.S. Treasury Department should convert some of its 8,000 tons of gold holdings into BTC to build a strategic reserve of the cryptocurrency.

She stated that the direct impact of the switch on the U.S. balance sheet would be "neutral" rather than spending approximately $90 billion to purchase BTC at market prices.

Michael Saylor

MicroStrategy founder and Bitcoin bull Michael Saylor is leading the way in how public companies are adopting BTC as their primary treasury reserve asset and reaping huge windfalls from it.

With 439,000 BTC, MicroStrategy is pushing the company’s value beyond established companies like Nike and Starbucks. Saylor also tried and failed to get Microsoft in on the action, but it was a good try.

Opposition SEC to Restrict and Hinder Cryptocurrencies

In 2024, the U.S. Securities and Exchange Commission (SEC), under the leadership of Chairman Gary Gensler, stepped up its efforts through litigation and enforcement actions The crackdown on cryptocurrency companies has increased uncertainty in the industry.

Gensler will resign in January. Gemini co-founder Tyler Winklevoss said no apology would “undo” the damage Gensler and his SEC have done to the crypto industry.

UK FCA

The UK Financial Conduct Authority also continues to tighten controls over the cryptocurrency industry - much like the US Securities and Exchange Commission across the pond - enforcing rules that the local industry believes will stifle innovation and putting crypto Currency companies push towards friendlier jurisdictions.

The FCA has recently issued warnings against unauthorized platforms such as Solana-based memecoin project Retardio and memecoin generator Pump.fun. Pump.fun was banned by regulators in the UK after the two platforms allegedly offered financial services without proper authorization.

SahilArora

Sahil Arora, known as the meme coin mastermind, gained notoriety in 2024 by launching a meme coin endorsed by numerous celebrities, and then loudly condemned by some of them.

Source: Caitlyn Jenner

It is said that he and Caitlyn Jenner, Rich the Kid and Iggy Azalea, etc. Cooperate with celebrities and convince them to promote Meme coins through social media. He then allegedly sold his share of each token before prices plummeted.

Biden’s “Operation Bottleneck 2.0”

Those in the cryptocurrency space have long accused President Joe Biden of an elaborate plot to isolate cryptocurrencies from the banking system. This is called "Operation Bottleneck 2.0".

More than 30 cryptocurrency and tech founders in the United States have reportedly been denied access to banking services, according to Andreessen Horowitz co-founder Marc Andreessen.

On November 27, Coinbase’s Armstrong also joined the chorus of accusations, calling this one of the “most immoral and un-American” things.

Dark Angels Ransomware Group

The Dark Angels ransomware group has dealt a serious blow to the cryptocurrency industry in 2024 and is considered one of the most active cybercriminal groups in the industry to date.

The group secured the largest ransom paid in BTC, $75 million, in July, marking a 96% increase in ransomware payments compared to 2023, according to a Chainalysis report.

The group is targeting centralized cryptocurrency exchanges to leverage rising cryptocurrency prices and increased trading volumes for maximum impact.

Pig Scam

Pig Scam has become one of the most prevalent forms of cryptocurrency-related fraud, with victims losing more than $75 billion worldwide.

These scams involve criminals establishing long-term, trust-based relationships online and ultimately coercing victims into participating in fake cryptocurrency investment schemes.

On December 10, nearly 800 people were arrested on suspicion of involvement in crimes during a raid in Lagos, Nigeria.