The year 2024 has become a transformative year for the cryptocurrency space, with significant developments and notable ups and downs. Highlight events such as the approval of Bitcoin exchange-traded funds (ETFs) and the re-election of Donald Trump have created strong momentum for the market, helping Bitcoin surpass the $100,000 mark and capturing over 70% market share. Bitcoin has solidified its reputation as 'digital gold,' while Ethereum and new Layer-1s like Solana have shown development with mixed reviews.
The emergence of decentralized infrastructure (DePIN) and the strong role of artificial intelligence have been noted, with stablecoins becoming the most popular option in transactions. The political influence of crypto has also been highlighted, with key candidates benefiting from the support of the cryptocurrency community, while Europe implements the first comprehensive legal framework, MICA.
The process of selecting the 'Most Influential Figures' list by CoinDesk includes the top 10 along with 40 honorees, celebrating individuals who have played important roles in shaping trends and achievements of the year. The Cedar Innovation Fund, an organization supporting the cryptocurrency industry, is calling on U.S. lawmakers to oppose the reappointment of Caroline Crenshaw to the Securities and Exchange Commission (SEC). They have launched a digital campaign arguing that Crenshaw 'opposes cryptocurrency more' than SEC Chairman Gary Gensler, particularly regarding policies on publicly traded Bitcoin spot funds.
The Senate Banking Committee is expected to vote soon on her nomination. Crenshaw, initially nominated by Trump in 2020 and confirmed, could hold the position until at least June 2029 if confirmed again. Cedar is backed by significant financial contributions from the cryptocurrency industry, including a large Political Action Committee (PAC) called Fairshake, which has funded many cryptocurrency-friendly candidates in the 2024 elections. A spokesperson for Cedar denies any connection between Cedar and Fairshake, but both groups share an interest in opposing anti-cryptocurrency political figures such as Senator Sherrod Brown, who recently lost his Senate seat.
