2024 Crypto Highlights: Bitcoin ETFs, Scandals & Surprises

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2024 was a wild year in the world of crypto! From game-changing Bitcoin ETFs to jaw-dropping scandals and quirky stories, there was no shortage of buzz. Here are some of the biggest headlines that shaped the year:

### Bitcoin ETFs Finally Approved in the U.S.
Big news kicked off in January when the U.S. Securities and Exchange Commission gave the green light to multiple spot Bitcoin ETFs. Companies like BlackRock, Fidelity, Grayscale, and others launched these funds, which quickly became a massive success. Together, they brought in over $36 billion in investments, with BlackRock’s ETF alone grabbing $54 billion in assets and dominating the market. This move helped push Bitcoin prices higher throughout the year.

### A $1.2 Million Bitcoin Mistake
In a bizarre incident, someone accidentally sent 26.9 BTC (worth $1.2 million at the time) to Bitcoin’s original Genesis wallet. That wallet, created by Bitcoin’s mysterious founder Satoshi Nakamoto, is essentially untouchable, meaning the funds are likely lost forever. Many speculated whether this was an intentional act or just a costly blunder.

### Sam Bankman-Fried Sentenced to 25 Years
March brought justice for one of crypto’s most infamous figures. Sam Bankman-Fried, former CEO of FTX, was sentenced to 25 years in prison and ordered to repay $11 billion after running one of the biggest financial frauds in U.S. history. Other key players in the FTX scandal faced varied consequences, with some cooperating with authorities to avoid jail time.

### Dogwifhat Meme NFT Sold for $4.3 Million
On a lighter note, March also saw the viral “Dogwifhat” meme photo sold as an NFT for a whopping $4.3 million. The iconic image inspired the Dogwifhat memecoin, now one of the top 50 cryptocurrencies with a market cap over $3 billion. Fans even raised $650,000 to feature the dog on the Las Vegas Sphere.

### Bitcoin Halving Shakes Things Up
In April, Bitcoin went through its fourth halving event, cutting miners’ rewards from 6.25 BTC to 3.125 BTC per block. These halvings happen roughly every four years and reduce Bitcoin’s supply growth, often sparking price increases. Billionaire Mark Cuban shared his thoughts on how AI might impact Bitcoin mining moving forward.

### FBI Warns About Unregistered Crypto Services
Also in April, the FBI urged Americans to steer clear of unregistered crypto platforms. They advised users to verify companies using a government database and avoid platforms that don’t follow ID verification rules. Using shady services could lead to losing your funds if authorities shut them down.

### ZKsync Makes Waves with Token Launch
June saw the launch of ZKsync’s new token, which hit a $1 billion market cap almost instantly after an airdrop and exchange listings. ZKsync uses advanced tech to make Ethereum faster and cheaper while sticking to principles like decentralization and user control. Other projects like Scroll and LayerZero also teased similar launches this year.

### Hamster Kombat Becomes a Telegram Gaming Sensation
A simple Telegram-based clicker game called Hamster Kombat took the crypto world by storm this year. Built on the TON blockchain, it attracted over 250 million players and even hosted an airdrop for 131 million users in September. The creators aim to bring blockchain education to over 1 billion people while tackling challenges like bots.

### A Norwegian Town vs. Bitcoin Mining Noise
Residents of Stokmarknes, Norway finally succeeded in shutting down a noisy Bitcoin mining facility after three years of complaints about its fans. While they celebrated initially, they soon faced a 20% hike in electricity bills as their local power company lost revenue without the mine’s operations.

### Mt. Gox Repayments Delayed Again
In October, creditors of defunct exchange Mt. Gox were hit with yet another delay. Repayments are now pushed to late 2025, giving creditors more time to wait for their funds tied up since the exchange’s collapse in 2014. Mt. Gox famously lost 850,000 BTC in a major hack.

### Donald Trump Goes Pro-Crypto and Wins Presidency
November’s U.S. election saw Donald Trump return to power with a surprising pro-crypto agenda. He made bold promises like firing SEC Chair Gary Gensler, creating a national Bitcoin reserve, and turning America into a crypto powerhouse. His stance energized the crypto community and played a key role in his victory over Kamala Harris.

### MicroStrategy’s Bitcoin Buying Spree
MicroStrategy continued its massive Bitcoin investments this year, adding another 55,500 BTC for $5.4 billion in November alone. The company now owns over 444,000 BTC worth more than $42 billion! They’ve positioned themselves as a “Bitcoin bank,” with big ambitions for the future.

2024 was nothing short of epic for crypto enthusiasts! From groundbreaking innovations to unforgettable mishaps, it was a year that proved once again that this space never sleeps.

  • Advika

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