2024 marked several significant milestones for the cryptocurrency community, possibly Bitcoin Halving leading to further consolidation of the mining industry or Bitcoin finally breaking the $100,000 barrier during a surge or the total market capitalization of the cryptocurrency industry rising from $1.2 trillion to $3.78 trillion in 2023 or an eccentric 78-year-old politician winning the U.S. presidential election, truly riding the cryptocurrency wave.
That year was also not short of dramatic events as we witnessed Sam Bankman Fried of FTX and CZ of Binance being jailed and severe criticism directed at Nischal Shetty of WazirX, who had retained 2500 crore Rs. Various memecoin projects were also criticized for promoting self-harm behavior, violent conduct, or orchestrating rugpull scams. 2024 also saw the tug-of-war between the cryptocurrency community and the Securities and Exchange Commission (SEC) over regulations in the U.S.
In 2024, cryptocurrency became significant. The end.
In this article, we introduce you to the ten most notable figures of 2024, who have made a significant impact on the cryptocurrency economy and the global crypto space, leaving their mark over time.
10. Nischal Shetty
Some call him a business prodigy, others call him a fraud and a blatant liar, while others see him as a victim of an unfortunate hack. Nischal Shetty, 38, co-founder of India's largest cryptocurrency exchange WazirX, remains one of the most controversial figures of 2024.
After the WazirX hack that caused a loss of 2000 crore Rs in July of this year, Nischal came under fire from many angry customers and law enforcement agencies due to some poor decisions made by WazirX's management.
Some of the most controversial moves Nischal made after the hack included halting the withdrawal of remaining funds from the exchange, siphoning 100 crore Rs from the remaining user funds to cover management costs, lying to 4.4 million WazirX users about a ownership tussle with Binance, and forcing them to accept a 55/45 socialist loss-sharing policy after the hack. What dissatisfied WazirX users the most was that an Indian exchange was being tried in Singapore's court while Nischal himself was living in Dubai.
Nischal made many promises to his users in 2025, including a swift allocation of the remaining funds, restarting trading on WazirX, and launching India's largest decentralized exchange, which will be re-registered in Singapore. I guess there are some things that will never change.
9. Hester Peirce
One of the commissioners of the U.S. Securities and Exchange Commission (SEC), Hester Peirce affectionately known as 'Crypto Mom' for her pro-crypto stance during the extremely hostile five-year term of the SEC under Chairman Gary Gensler. As an SEC commissioner, Peirce has advocated for a favorable approach to regulating the cryptocurrency industry, seeking to balance industry regulation and consumer protection.
In 2024, Peirce fought for reasonable and appropriate cryptocurrency regulations, condemning some of the SEC's enforcement actions as 'overreaching.' Her best advocacy effort this year was pushing for the formation of safe harbor rules for cryptocurrency projects to allow developers to tinker longer without the threat of shutdown.
Since her appointment to the SEC in 2018, she has become a headline figure for pushing support for new technologies but with a caveat. As one of the most influential voices discussing the future of policies awaiting the cryptocurrency sector, Peirce's impact is significant, and her work in 2024 ensures that decision-makers in Washington, DC, continue to bring the cryptocurrency community into shaping future blockchain and cryptocurrency regulations.
8. Sam Bankman Fried
The poster boy of 'Crypto Bros,' Sam Bankman Fried lived the dream until 2023 when FTX, the world's most popular exchange he founded, collapsed. When FTX was accused of mismanagement, fraud, and using customer funds to trade and invest in extremely risky projects, Sam Bankman became the target of the SEC and other law enforcement agencies. The collapse of FTX caused billions of dollars in damages and had a significant negative impact on investors, raising doubts about the stability of the cryptocurrency market.
The trial and sentencing of Bankman-Fried in 2024 only further cemented his path to a 25-year prison sentence. He was convicted of fraud and conspiracy; thus, he remains one of the most notorious figures in cryptocurrency facing legal repercussions related to the crypto market. His trial and the information revealed during the proceedings have become an example of what can turn into a modern fairy tale for cryptocurrency enthusiasts and potential investors.
The story of Bankman-Fried is the tale of Icarus, the boy with golden wings who was warned not to fly too high and too close to the sun, and ultimately he did, and his wings melted, causing him to fall.
7. The People of Bhutan
In November 2024, the tiny nation of Bhutan in the Himalayas became the center of international attention when it revealed that it owned approximately 1 billion dollars in Bitcoin, making it one of the largest Bitcoin-holding countries in the world. Bhutan, known for its happiness index, has utilized its massive hydropower resources to mine Bitcoin and build an impressive BTC reserve that could embarrass larger nations.
Bhutan's bitcoin mining policy is built on an environmentally friendly concept given the fact that the country has massive hydropower reserves it can tap into during the mining process. This green mining model aligns with Bhutan's sustainable development goals as it positions the country as an example of a nation wanting to combine cryptocurrency and renewable energy.
Fixed reserve accounts for Bitcoin and domestic mining operations are seen as positively impacting the country's economic diversification considering the volatility of the international economy. Although Bhutan has not disclosed its level of Bitcoin ownership, the increasing participation in Bitcoin usage indicates that the country is embracing the future and taking measures to harness technological advancements without causing environmental devastation.
6. Michael Saylor
American entrepreneur and founder of MicroStrategy, Michael Saylor, continues to dominate the news cycle in the cryptocurrency space, holding an extremely optimistic stance on Bitcoin. As BTC reached unprecedented heights in the current surge, MicroStrategy under Saylor continues to buy in.
Famous for his extremely optimistic stance on Bitcoin, Saylor took the plunge into the digital currency world in 2020 after MicroStrategy became the first public company to invest in Bitcoin as a primary treasury reserve asset. Thanks to his visionary approach, MicroStrategy has pivoted to become a technology giant focused on cryptocurrency as the intersection of traditional business and progressive cryptocurrency.
In 2024, Saylor was more optimistic than ever about Bitcoin. In a recent interview, he stated he had no qualms about calling Bitcoin 'Cyber Manhattan.' According to Saylor, Bitcoin is something more than just a store of value; it is digital gold with all the potential to revolutionize the economy. His comments align with his historical stance that the world's largest cryptocurrency is a store of value and a monetary tool of the future, especially with ongoing volatility.
5. Changpeng Zhao (CZ)
For Changpeng Zhao, or CZ, the founder of Binance, 2024 was a rollercoaster ride as the world witnessed the cryptocurrency maverick jailed for four months for failing to comply with U.S. regulations and then emerging from prison with his new 'Walter White' look.
CZ, or Changpeng Zhao, is a key figure in the cryptocurrency world, but in 2024, he was cornered by the SEC and the Commodity Futures Trading Commission (CFTC) over allegations of Binance violating financial laws and mismanaging customer funds. This occurred simultaneously as other regulators in the U.S. began cracking down on cryptocurrency exchanges.
There are signs that CZ may face charges in criminal cases, and this has sparked rumors that he wants to resign. However, CZ remains a focal point in the news throughout 2024 as users from India's WazirX also urged him to intervene and help them financially. However, to their immense disappointment, CZ declined to assist in this matter.
4. Elon Musk
The tech mogul, eccentric billionaire, owner of X (formerly Twitter), SpaceX, and Tesla, and now head of the Department of Government Efficiency (DOGE), Elon Musk, had an eventful 2024.
As one of the most ardent supporters of Donald Trump's presidential campaign, Musk remains an unconventional and influential figure who viewed Trump's libertarian outlook on the economy as the perfect fit for his vision of technological and spatial transformation. In 2024, Musk invested in Trump's campaign, both emotionally and materially, organizing lavish fundraising events and leveraging his connections in the technology and cryptocurrency sectors.
In 2024, Musk continually spoke about the popular memecoin Dogecoin as an ideal asset for the future of currency. He took it a step further by announcing that he would officially join the DOGE team alongside Vivek Ramaswamy. As a strong advocate for free speech, Musk has been criticized for allowing hateful and discriminatory speech to infiltrate X.
3. Nayib Bukele
President of El Salvador, former young entrepreneur, and perhaps the first cryptocurrency or Bitcoin-loving president in history, Nayib 'Chivo' Bukele ranks third on the list of top cryptocurrency newsmakers of 2024.
Bukele is known as the 'greatest dictator' on the internet; a reformer who has brought radical changes to the laws, order, and economic conditions of the Central American country El Salvador, which would otherwise be ravaged by gang violence and corruption. Whether detaining over 70,000 suspected gang members, enforcing stricter law, and a nationwide anti-violence campaign means Bukele has taken a stand to make El Salvador a safe country once again.
Aside from his uncompromising image, Bukele and his government have invested heavily in Bitcoin. During his presidency, Nayib legalized Bitcoin as a currency and also proposed using the country's volcanoes for green mining. His bold initiatives are revolutionizing how countries can engage in Bitcoin mining more sustainably.
Bukele also met with Tesla CEO Elon Musk in September at the company's Gigafactory in Austin, Texas in 2024. They spent hours discussing Artificial Intelligence, Cryptocurrency, and various other fields, respecting each other's viewpoints. Bukele is very popular throughout Latin America and is considered one of the most influential leaders among today's youth.
2. Donald Trump
As of July 2024, Trump still lagged behind Joe Biden, just four months before the U.S. presidential election began. Trump has shown support for the cryptocurrency community in the U.S., but it is a relationship still in its early stages as both sides have kept their distance.
Then, at a rally in Pennsylvania on July 13, Trump was shot by a 20-year-old assassin, barely surviving with an ear wound. The assassination attempt altered the trajectory of the U.S. presidential election as Elon Musk and later the cryptocurrency community voiced their full support for him.
Trump has also made efforts to reach out to the community, promising to make America the Bitcoin capital of the world, mining every Bitcoin in the U.S., and creating a strategic Bitcoin reserve asset. He also vowed to fire SEC Chairman Gary Gensler, who is very unpopular with the cryptocurrency community, on his first day in office in 2025.
Indeed, Trump's victory over Kamala on November 4 and 5 played a crucial role in pushing Bitcoin to unprecedented heights and ultimately breaking the $100,000 barrier. Following his victory, Trump announced the establishment of DOGE under the leadership of Elon Musk and Vivek Ramaswamy, promising expansion plans to promote the interests of cryptocurrency investors.
1. Satoshi Nakamoto
The true OG of blockchain, Satoshi Nakamoto, regarded as the creator of Bitcoin, refuses to fade from public memory, even 15 years after disappearing into obscurity. Satoshi remains the top newsmaker in the cryptocurrency community in 2024 due to several attempts to unveil his identity.
From an HBO documentary claiming developer Peter Todd is the real Satoshi to a clown holding a chaotic press conference in London, everyone wants to see the face behind Nakamoto, but the mystery continues to this day. There are also concerns that Satoshi could face jail time if his identity is revealed.
As Bitcoin reached unprecedented heights during the 2024 surge, Satoshi's BTC assets exceeded $100 billion. This man, this legend, remains a mystery to this day, even as the world continues to wonder who that legendary creator is.
