In 2024, the industry has experienced unprecedented growth, controversy and milestones. From Bitcoin’s all-time highs to transformative regulatory changes and high-profile legal disputes, the cryptocurrency space continued to move at a breakneck pace this year. This year is destined to go down in history. 2024 will not only witness the rapid growth of the industry, but also lay a clearer direction for the future. Here are the most iconic events of 2024 and understand their impact on the future of cryptocurrencies.

US Bitcoin ETF: A long-awaited milestone

In January 2024, the US Securities and Exchange Commission (SEC) approved the first Bitcoin exchange-traded fund ( ETF), this is a big moment for cryptocurrencies. Bitcoin ETFs provide investors with a safe, regulated way to invest in Bitcoin without directly holding it. Institutional participation has surged as asset managers include Bitcoin ETFs in their offerings, attracting a wider investor base. The approval is widely seen as an important step toward mainstream adoption of cryptocurrencies, marking the United States’ growing recognition of digital assets.

The launch of the Bitcoin ETF has also spurred innovation in the financial sector, with the launch of a series of blockchain products designed to meet the needs of institutions. Analysts believe this development is a sign of a maturing market, with the integration of traditional finance and the crypto industry accelerating. These ETFs also help mitigate some of the risks associated with cryptocurrencies, such as custody and security issues, making Bitcoin more attractive to conservative investors.

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Samuel Bankman-Fried’s sentencing: justice served Zhang Zhang

In March 2024, former FTX CEO Sam Bankman-Fried, SBF, was sentenced to 25 years in prison for fraud, and his cryptocurrency exchange FTX also collapsed. His conviction on charges of fraud and mismanagement sends a clear signal about the importance of accountability in the crypto industry. The trial exposed systemic failures at FTX, a giant cryptocurrency exchange, including the misuse of customer funds and a lack of internal controls.

The sentencing marks one of the cryptocurrency space’s most notorious scandals and serves as a warning to other industry players. This case not only exposed the risks of the encryption industry, but also made the public aware of the seriousness of the lack of supervision and compliance in the industry. The fall of Sa becomes a driving force for industryThe opportunity of reform has caused more platforms to re-examine their own management and operation methods to ensure that investors' rights and interests are no longer easily infringed.

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Hong Kong launches first Bitcoin ETF: The strong rise of Asian markets

In April 2024, Hong Kong launched Asia's first spot Bitcoin and Ethereum ETFs, solidifying its position as a global cryptocurrency center. These ETFs provide investors in the region with a regulated and secure way to invest in cryptocurrencies, increasing confidence in digital assets. Hong Kong’s proactive approach to crypto regulation provides a blueprint for other regions looking to integrate blockchain technology into financial markets.

By balancing innovation and regulation, Hong Kong has set an example for others, demonstrating how to promote industry development while safeguarding investor interests. This move not only consolidates Hong Kong's status as an international financial center, but also allows more institutions to realize the potential of the Asian market. Analysts generally believe that Hong Kong’s successful experience will have a profound impact on the global cryptocurrency regulatory model.

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Bitcoin: The Fourth Halving

In April 2024, Bitcoin will usher in its fourth halving. Miner rewards have been reduced from 6.25 Bitcoins per block to 3.125 Bitcoins, making Bitcoin mining more difficult than ever and further slowing Bitcoin supply growth. Historical data shows that each halving will cause the market to generate strong value expectations due to reduced supply, thereby promoting the long-term rise of Bitcoin prices.

Although the market did not change drastically immediately after the halving, institutional investors have shown strong interest and regard Bitcoin as a currency that can Scarce assets to hedge against inflation risk. The halving event once again strengthened Bitcoin’s “digital gold” status and laid the foundation for a possible future bull market.

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After halving: opportunities and opportunities in volatility Challenge

After the halving, the price of Bitcoin has significantlyThe fluctuations and violent rises and falls bring both opportunities and risks to traders. Some market participants believe the volatility reflects healthy market activity, but others worry about the possibility of a speculative bubble. Regardless, the market performance during this period once again proves that Bitcoin, as a unique asset class, has economic dynamics that are different from traditional commodities and securities. Bitcoin’s halving not only reaffirms the value of its scarcity, but also further cements its special position in the global financial system.

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Ethereum ETF launched: Injecting into the market New vitality

Following the successful launch of the Bitcoin ETF, the US SEC approved the Ethereum ETF in July 2024. This approval not only broadens the options for institutional investors, but also enhances Ethereum’s status as a leading blockchain technology platform. As the world's second largest cryptocurrency, Ethereum has always been favored by investors for its smart contracts and decentralized finance (DeFi) application scenarios.

The launch of Ethereum ETF provides investors with a safer and more convenient investment method, and also further expands the market's interest in blockchain technology. recognition. This move allows more people to see that Ethereum is not only a digital asset, but also a key force in promoting the new generation of decentralized Internet.

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Zhao Changpeng is released: a new chapter is about to begin

In September 2024, Changpeng Zhao, founder of cryptocurrency exchange Binance, was released after serving a four-month sentence. He was jailed for anti-money laundering violations, an incident that prompted a major change in the direction of Binance’s operations. After being released from prison, Zhao made it clear that he would not return to Binance and planned to devote his energy to other projects.

Despite leaving Binance, Changpeng Zhao’s influence in the cryptocurrency industry cannot be underestimated. He revealed that he has received multiple offers to sell Binance shares, but has not yet made a decision. For the entire industry, his future trends will become a far-reaching highlight and may also bring new breakthroughs to the market.

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Do Kwon Extradition Case: A Transnational Legal Game

Terraform Labs co-founder Do Kwon’s extradition case reached an impasse in 2024. After Montenegro's Constitutional Court suspended the extradition decision, the United States also filed an extradition request, miring his fate in a more complicated legal dispute.

This case highlights the difficulty of international judicial cooperation in the field of cryptocurrency. With the globalization of blockchain technology, such cases also remind people that how to pursue justice in a decentralized world will be a challenge that the industry needs to face.

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The Federal Reserve cuts interest rates: Bitcoin becomes popular again< p style="text-align: left;">In 2024, in order to stimulate the economy, the Federal Reserve announced interest rate cuts twice, in September and November. This adjustment has made traditional assets less attractive, while crypto assets such as Bitcoin have once again attracted attention due to their anti-inflation properties. Bitcoin prices rose rapidly after the interest rate cut, demonstrating strong market appeal as investors looked for alternative investments.

This phenomenon once again proves Bitcoin's status as "digital gold" and also shows the increasingly close connection between the crypto market and the macro economy. Institutional investors’ interest in crypto-assets has also grown significantly during this time, injecting more confidence and vitality into the market.

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FTX’s legal dispute with Binance: War Upgrade

In November 2024, the cryptocurrency exchange FTX filed a lawsuit against another cryptocurrency exchange Binance and its former CEO Changpeng Zhao, demanding US$1.8 billion in compensation. The case revolves around Binance’s 2021 sale of its 20% stake in FTX for $1.76 billion. FTX claimed that the payment was made using customer funds and was mismanaged by FTX and Alameda Research. The lawsuit accuses Binance of irresponsibility, claiming that the transaction exacerbated FTX’s financial problems.

FTX also accused Changpeng Zhao’s public remarks in November 2022 of worsening its liquidity crisis, leading toThe collapse of the exchange. Binance denied the accusations, calling them baseless and vowing to fight them in court. This legal dispute is not only part of the recovery of funds after FTX’s bankruptcy, but also makes the entire industry begin to rethink the rules of competition among crypto companies.

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Coinbase stock breaks through $300 mark

In November 2024, the share price of the American cryptocurrency exchange Coinbase exceeded the $300 mark. This achievement once again ignited the market's confidence in the cryptocurrency industry. As a leader in the cryptocurrency space, Coinbase has successfully overcome multiple challenges and continues to expand its market influence.

This milestone underscores the growing recognition of cryptocurrency companies in traditional financial markets and the importance of building trust through transparent operations and strong governance. Sets an example for other companies in the industry.

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Bitcoin hits record high: affected by "special Driven by the "Trump Effect"

In November 2024, the price of Bitcoin soared to a record high of $93,450. This milestone made the entire cryptocurrency market boil and was widely referred to as the "Trump Effect". Trump Pump effect. This rise is mainly due to the market's optimistic expectations for Trump after he was re-elected as president. Trump promised to vigorously promote blockchain technology innovation and reduce taxes for cryptocurrency companies. These promises inspired market confidence and directly drove the price of Bitcoin to new heights.

Not only Bitcoin, the entire cryptocurrency market has also been affected by the "Trump effect". The prices of popular altcoins such as Ethereum and Solana have also risen sharply. rise. This phenomenon once again confirms the core position of Bitcoin in the cryptocurrency market, and also plays an important role in driving market sentiment and liquidity.

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Post-election rally: Bitcoin sprints $90,000

Bitcoin's rise did not end due to the "Trump effect", but gained further strength after the election. With the active participation of institutional investors, the price of Bitcoin quickly sprinted to the $90,000 mark. Many hedge funds And asset management companies are optimistic about the stable regulatory environment that Trump may bring, and they have begun to include Bitcoin in their investment portfolios

This post-election rally has also been driven by this wave. Citing the strong performance of the altcoin market, Ethereum, Solana and Cardano and other currencies have recorded significant gains. This round of market sentiment not only demonstrates the market's sensitivity to stability, but also shows that clear supervision can effectively enhance investor confidence and promote further development of the overall industry.

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Trump's media group considers acquiring cryptocurrency exchange Bakkt< p style="text-align: left;">There are reports that Trump Media and Technology Group (TMTG) will enter the field of cryptocurrency exchanges, or consider acquiring cryptocurrency exchange Bakkt. Trump, who has been re-elected as president, is using the depth of his holdings of TMTG Participating in the cryptocurrency space. The Financial Times revealed that TMTG, which operates Truth Social, is finalizing the acquisition of all shares of Bakkt, although specific valuation details have not been disclosed.

Speculation surrounding Trump's support for the digital asset has fueled optimism in the market as the price of Bitcoin surges to unprecedented levels, currently approaching $100,000. As the news breaks, get Intercontinental Exchange Backing Bakkt's stock surged, reflecting the market's enthusiasm for the move not only in line with Trump's re-election campaign. The previous public support for cryptocurrencies also marks the strategic integration of his presence in the cryptocurrency industry. Against the backdrop of these developments, the broader cryptocurrency market has experienced significant growth, including Ethereum and decentralized finance tokens. , underscoring widespread excitement and the potential of Trump’s increased focus on the digital asset space.

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Bitcoin breaks through $100,000: Opportunities and challenges coexist

Bitcoin price is close to breaking through the $100,000 target on December 5. This momentum is mainly due to strong institutional support and concerns about the U.S. regulatory environment.The expectation that the environment will become friendly. The accumulation of holdings by heavyweight institutions such as MicroStrategy further ignited market confidence. Experts predict that if Bitcoin’s market share drops below 58%, it may start the “altcoin season” and promote an overall rise in the entire cryptocurrency market.

However, the market boom also comes with potential risks. Analysts have warned that Bitcoin may experience a "top burst" phenomenon - a rapid price surge followed by a sharp correction. In addition, the Federal Reserve's cautious attitude on cutting interest rates also poured some cold water on the market, with investors showing a more cautious attitude towards a potential growth slowdown. Although Bitcoin has surpassed the $100,000 target, the path forward is still full of uncertainty, and the risk of volatility cannot be ignored.

Summary: The Year of Change

In 2024, the cryptocurrency industry has undergone earth-shaking changes. From Bitcoin’s all-time highs, to major ETF breakthroughs, to high-profile legal cases, these events are not only reshaping the market landscape, but also pointing the way for future development.

Looking forward to 2025, with the advancement of technology, the in-depth participation of institutional investment, and the gradual improvement of the regulatory environment, the cryptocurrency industry is expected to usher in a new prosperity cycle. The key events in 2024 provide important reference for the long-term development of the encryption industry, and also provide a new imagination space for the future of the global financial system.