12 Most Memorable Crypto Events of 2024

From the launch of Bitcoin ETFs, the wave of Tap-to-Earn on Telegram, to the return of former President Donald Trump, what are the most notable events in the crypto market in 2024?

SEC Approves Bitcoin ETF

On January 11, 2024, the U.S. Securities and Exchange Commission (SEC) approved proposals to register Bitcoin Spot ETFs. These ETFs are from major fund management companies in the market, such as Ark Invest/21Shares, Bitwise, BlackRock, Fidelity, Franklin Templeton, Grayscale, Invesco, and more.

This is also the most successful ETF launch in world economic history, attracting a total of over $36 billion in net trading flows and approximately $110 billion in assets under management as of now.

Among them, BlackRock's Bitcoin ETF IBIT has proven its leading position, accounting for $54 billion (almost 50%) of total assets under management and over 70% of the market share based on trading volume.

The Incident of Sending 1.2 Million USD in Bitcoin to the Wrong Address

One of the most memorable incidents this year was when an anonymous user sent 26.9 BTC, worth 1.2 million USD at the time, to the Genesis wallet address of Bitcoin.

This address was created by Bitcoin's founder, Satoshi Nakamoto, and no one has the ability to access or return the funds to the victim.

According to the blockchain analysis platform Arkham, this transaction originated from a wallet linked to the Binance exchange, which has increased the total balance of the Genesis wallet to nearly 100 BTC, worth almost 10 million USD at the current time.

Either Satoshi woke up, bought 27 Bitcoin, and sent them there, or someone accidentally or intentionally burned over 1 million USD.

-- Conor Grogan, Director of Coinbase, commented --

Sam Bankman-Fried Sentenced to 25 Years in Prison

In March, former CEO of the FTX exchange, Sam Bankman-Fried, was sentenced to 25 years in prison and ordered to pay $11 billion in restitution for his involvement in orchestrating one of the largest financial frauds in U.S. history.

In September 2024, Sam Bankman-Fried filed an appeal and requested a retrial. One month later, the former CEO of FTX Digital Markets, Ryan Salame, also began serving his 7.5-year prison sentence.

Meanwhile, the former CEO of Alameda Research, Caroline Ellison, received a lighter sentence of only 2 years in prison.

Dogwifhat NFT Sold for 4.3 Million USD

In March, the iconic image of Achi the dog, the mascot behind the famous Dogwifhat memecoin, was sold as an NFT for 4.3 million USD to crypto trader Gigantic Rebirth Ventures.

Since then, Achi has become an internet sensation, spreading throughout the crypto community, leading to the creation of the Dogwifhat memecoin. WIF is currently ranked 63rd in the list of the largest market cap tokens, with a total market cap of 2 billion USD.

This NFT transaction took place just a few days after investors raised over 650,000 USD to project the image of Achi the dog onto the Sphere, the world's largest LED sphere in Las Vegas. However, as of now, this plan has yet to be carried out.

The Fourth Bitcoin Halving Event

The fourth Bitcoin halving event took place in April 2024 at block 840,000, reducing the mining reward from 6.25 BTC to 3.125 BTC. This also means that miners now produce about 450 BTC per day, compared to the previous 900 BTC.

Programmed from the beginning, Bitcoin network halving events occur about every four years, reducing the mining rewards until the last Bitcoin is mined around the year 2140. After that, Bitcoin miners will only generate revenue from a portion of network transaction fees.

FBI Warns Crypto Investors

Also in April, the U.S. Federal Bureau of Investigation (FBI) issued a warning to American investors to avoid using crypto services that are not registered as Money Services Businesses under federal law, in order to prevent financial and legal risks.

The FBI also advised users to check the registration status of cryptocurrency services and companies using the U.S. Financial Crimes Enforcement Network's (FinCEN) lookup tool. Additionally, it urged the public to avoid using platforms that do not comply with regulations related to customer KYC (Know Your Customer) requirements.

Crypto-based money transfer services that intentionally violate the law or facilitate illegal transactions will be investigated by law enforcement agencies.

-- The FBI affirms --

ZKsync Airdrop Event and a Series of Major Projects

ZKsync was one of the biggest and most anticipated token release and airdrop events of the year. Immediately following the airdrop, ZK's market capitalization quickly reached 1 billion USD and was listed on several major exchanges in the market.

ZKsync Era is a layer 2 network designed to enhance Ethereum's scalability using Zero-Knowledge Proof technology. This technology helps improve Ethereum's throughput while maintaining core principles of freedom, information autonomy, and decentralization at scale.

Alongside ZKsync, a series of major projects also launched tokens and airdrops for users in 2024, such as EigenLayer, Scroll, LayerZero, Starknet, Wormhole, Jupiter, Notcoin, Blast, Magic Eden, WalletConnect, Hyperliquid, and more.

Hamster Kombat and the Tap to Earn Wave

One of the biggest trends in 2024 was the game Hamster Kombat, along with the Tap to Earn game genre from mini apps on the Telegram platform.

The Success of Notcoin Inspired the Founders of Hamster Kombat

The success of Notcoin inspired the founders of the Hamster Kombat game, helping to attract over 300 million users worldwide along with many new records being set.

Although the airdrop event did not succeed as many players had hoped, the game has maintained its appeal and is planning to launch a second airdrop in the next two years.

Norwegians Pay the Price for Closing a Bitcoin Mining Facility

One of the strangest stories of the year occurred in September, when the residents of a small town in Norway called for the closure of a local Bitcoin mining facility due to ongoing noise issues that had lasted for three years.

Residents Criticize Bitcoin Mining Facilities for Energy Waste and Environmental Impact

Residents criticized Bitcoin mining facilities for causing energy waste, noise pollution, and being environmentally unfriendly. Meanwhile, supporters of the industry argued that Bitcoin mining could help absorb excess energy, stabilize the power grid, and reduce energy costs for local residents.

What the people of Stokmarknes may not have anticipated was that their electricity bills increased by over 20%, as the local power company Noranett lost a major source of revenue after the KryptoVault-managed mining operation ceased.

Mt.Gox Extends Debt Repayment Deadline to 2025

In October, the Bitcoin exchange Mt.Gox extended its debt repayment deadline to October 31, 2025, a one-year extension from the previous deadline of October 31, 2024.

This extension also helped ease concerns about selling pressure on Bitcoin after the exchange moved 47,229 BTC earlier this year. However, investors remain worried as Mt.Gox is set to repay a total of 9 billion USD in Bitcoin, Bitcoin Cash, and cash to creditors in the near future.

This Tokyo-based exchange was founded in 2010 and quickly became the largest Bitcoin trading platform in the world at that time. However, Mt.Gox completely collapsed after 850,000 BTC were stolen in a security breach in 2014.

Donald Trump Re-Elected as U.S. President

Donald Trump won the U.S. presidential election in November, defeating Democratic candidate Kamala Harris, as the Republican Party achieved a landslide victory in the House, Senate, and White House.

Donald Trump is also the first presidential candidate to express a positive attitude toward the cryptocurrency market, making a series of commitments to promote the industry if elected.

In this regard, he promised to fire SEC Chairman Gary Gensler and reduce the life sentence of Silk Road crypto marketplace founder Ross Ulbricht on his first day in office.

Donald Trump’s Commitments
At the same time, Donald Trump also committed to establishing a Presidential Advisory Council on Cryptocurrency, repealing SAB 121, ending "Operation Choke Point 2.0," making the U.S. the crypto capital, and creating a national strategic Bitcoin reserve fund.

MicroStrategy Accelerates in the Bitcoin Race

In 2024, MicroStrategy made 17 purchases of Bitcoin, currently holding 444,262 BTC, with a total value of 43.97 billion USD and an average price of 62,226 USD per Bitcoin. According to data from SaylorTracker, the company's Bitcoin investment is currently showing a profit of about 59%, equivalent to over 16.3 billion USD.

In October, the company announced plans to raise a total of 42 billion USD through the sale of stocks and bonds to fund additional Bitcoin purchases.

On December 13, the company’s MSTR stock officially joined the Nasdaq 100 index, with a total market capitalization of nearly 98 billion USD. The stock price surged by over 500% in 2024, surpassing the all-time high (ATH) set in 2020, and is now trading at 358.18 USD.

#2024 #cryptoevents #NewsAboutCrypto #MarketRebound #CryptoRegulation2025

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