News 
December 28, 2024 
7 min. 
The year 2024 was a landmark year for the cryptocurrency market, with a series of significant events shaping the landscape and driving the growth and acceptance of cryptocurrencies. Let’s review the seven most important events that defined this year.
1. Bitcoin ETF approval in the US
In January 2024, the US SEC approved 12 Bitcoin ETFs. This move allowed institutional and retail investors to access Bitcoin through traditional investment accounts, boosting the market and increasing demand for the cryptocurrency. The approval of the ETFs was seen as an important regulatory milestone, bringing more credibility and security to the Bitcoin market.
Bitcoin ETFs got off to a promising start, raising around $1 billion in the first month of launch. The most sought-after was BlackRock’s IBIT, which has accumulated over $36 billion in net inflows since its launch. This high level of interest and investment contributed to a significant rally in the price of Bitcoin, which jumped from the $40,000 region to $70,000 in the first quarter of 2024. In addition, the steady flow of inflows, due to asset managers buying to hold BTC in custody, also contributed to this rally.
2. Bitcoin’s fourth halving
In April 2024, Bitcoin underwent its fourth halving, reducing miner rewards from 6.25 BTC to 3.125 BTC per block. This event is significant because it reduces the supply of new Bitcoins, increasing their scarcity and, potentially, their value.
However, unlike previous halvings, it did not trigger an immediate bullish momentum. The rally was anticipated by the approval of ETFs and the resulting inflow of institutional capital. Thus, the price of Bitcoin moved sideways after the halving until early October.
3. Sam Bankman-Fried’s conviction
In March 2024, FTX founder Sam Bankman-Fried was sentenced to 25 years in prison and fined $11 billion for financial fraud. This event had a significant impact on the market, bringing to light questions of trust and security in cryptocurrency platforms. The conviction of such a prominent figure highlighted the need for greater transparency and regulation in the crypto space.
In addition, the then CEO and founder of Binance, Chanpeng Zhao (CZ), reached a settlement with the US courts, resulting in him paying a $150 million fine, stepping down as CEO of the exchange, and serving a prison sentence. This agreement was part of a larger settlement that saw Binance pay over $4 billion in penalties for money laundering violations and other irregularities.
4. Election of Donald Trump
The election of Donald Trump as US President in November 2024 brought optimism to the cryptocurrency market. With promises of pro-crypto policies, Trump’s election triggered a second bullish momentum in the market, reflecting renewed investor confidence. Trump’s proposals included reducing regulatory barriers and encouraging innovation in the cryptocurrency sector.
5. Bitcoin surpasses $100,000
In December 2024, Bitcoin finally reached the historic $100,000 milestone. This feat has been anticipated since the last cycle and represents a major step towards the acceptance and legitimacy of cryptocurrencies in the global financial market. This historic milestone was celebrated by investors and enthusiasts, reinforcing the view of Bitcoin as a reliable store of value.
Currently, Bitcoin’s ATH is recorded at $108,353, set on December 16. Experts believe that Bitcoin’s bull run is not over yet and the asset could hit $150,000 by 2025.
6. HBO reveals Satoshi Nakamoto’s identity
In 2024, HBO released the documentary “Money Electric: The Bitcoin Mystery”, which claimed to reveal the true identity of Satoshi Nakamoto. Directed by Cullen Hoback, the documentary sparked major debates in the crypto community and reignited interest in the history of Bitcoin. The speculative revelation that Peter Todd could be the real Satoshi Nakamoto brought a new perspective on the origins of Bitcoin.
However, after the release of the documentary, Peter Todd faced a series of serious consequences. He was the target of intense media and public attention, which generated a wave of criticism and debate over the veracity of the claims.
In addition, Todd had to deal with professional repercussions, including the need to further distance himself from his previous statements and reinforce his position that he is not Satoshi Nakamoto. Thus, the situation became so tense that Todd ended up going into hiding due to the threats of aggression he received, putting his safety at risk.
7. Growth of Solana and Coinbase Base Networks
During the year, the Solana network performed impressively, especially with the launch of Pump.fun, which boosted the memecoin market. At the same time, Coinbase Base Network encouraged the development of AI agents (VIrtuals protocol), resulting in a significant increase in users on the L2 network. Thus, these developments highlight the diversity and continued innovation in the cryptocurrency space.
What does 2025 hold for the crypto market?
The year 2024 has been a period of major milestones and transformations for the cryptocurrency market. From the approval of Bitcoin ETFs and the fourth halving, to the conviction of prominent figures and the adoption of pro-crypto policies, the market has evolved and strengthened.
In addition, the developments in the Solana and Coinbase Base networks have also highlighted the diversity and continued innovation in the crypto space.
What to expect in 2025? If the events of 2024 are any indication, we can expect a year full of advances and surprises in the world of cryptocurrencies. Of course, the story is just beginning.
