Paul Atkins

2024

Satoshi Nakamoto

Ripple USD

<p>The cryptocurrency world experienced a tumultuous year in 2024, filled with historical events, unexpected twists, and important milestones. Let’s take a deep dive into the events of 2024 and explore each of these major developments in the cryptocurrency world.</p> 
<h2 class="wp-block-heading" id="rlusd-launch">RLUSD Launch</h2> 
<p>The most-awaited Ripple’s new stablecoin, Ripple USD (RLUSD), <a href="https://www.cryptotimes.io/2024/12/17/ripples-rlusd-stablecoin-is-now-live-on-global-exchanges/">started trading globally</a> on December 17, 2024. RLUSD, a stablecoin backed by the U.S. dollar, received approval from the New York Department of Financial Services (NYDFS) on December 10, 2024. Ripple introduced RLUSD in June 2024, with the stablecoin being backed 1:1 by U.S. dollars, supported by U.S. government bonds and other cash equivalents.</p> 
<h2 class="wp-block-heading" id="hamster-craze">Hamster Craze</h2> 
<p>This year was quite hyped for crypto games, as there was the launch of Hamster Kombat, a play-to-earn crypto game. This game quickly gained popularity, with over 300 million players worldwide. The game allowed users to collect $HMSTR tokens by completing tasks such as tapping to earn points, which they believed would make them rich.&nbsp;</p> 
<p>However, as the game progressed, many felt let down when the rewards didn’t meet their expectations. Problems like unfair token allocation, disqualifications, and bans left players feeling cheated. The game faced criticism when some influencers <a href="https://www.cryptotimes.io/2024/09/24/hamster-kombat-game-teaches-us-there-is-no-free-money/">got large rewards without playing</a>, angering users who spent hours earning points that turned out to be nearly worthless.&nbsp;</p> 
<h2 class="wp-block-heading" id="wazirx-hack">WazirX Hack</h2> 
<p>The WazirX hack, one of the biggest in India’s crypto history, took place on July 18, 2024,<a href="https://www.cryptotimes.io/2024/07/18/half-of-investors-funds-gone-from-wazirx-in-massive-breach/"> resulting in a loss of Rs 2,000 crores</a> ($234.9 million) in cryptocurrencies. Hackers infiltrated the exchange by exploiting a compromised account. The breach was first reported by Cyvers Alerts, a cybersecurity firm. WazirX later confirmed the incident and paused all withdrawals to investigate.</p> 
<p>Investigations found that hackers used credentials sold by <a href="https://www.cryptotimes.io/2024/11/19/who-is-sk-masud-alam-trojan-horse-who-brought-down-wazirx/">Masud Alam</a>, a crypto investor from West Bengal. Masud created an account using the KYC details of a laborer, Souvik Mondal, who knew nothing about crypto.</p> 
<p>He sold the account to a Bangladeshi named Hasan, believed to have planned the hack. Hasan’s location is still unknown, delaying further investigation. WazirX and its creditors are now working on a<a href="https://www.cryptotimes.io/2024/12/20/when-can-you-withdraw-funds-from-wazirx-find-out-here/"> plan to recover losses and restart operations.</a></p> 
<h2 class="wp-block-heading" id="trump-s-pro-bitcoin-stance">Trump’s Pro-Bitcoin Stance</h2> 
<p>Before the 2024 election, Donald Trump emphasized his vision for making the U.S. energy dominant by producing all remaining Bitcoin domestically.</p> 
<p>At the Bitcoin 2024 Nashville conference, he criticized SEC Chair Gary Gensler, <a href="https://www.cryptotimes.io/2024/07/28/i-will-fire-gary-gensler-on-day-1-trump-at-bitcoin-nashville-2024/" target="_blank" rel="noreferrer noopener">promising to fire him</a> on his first day in office if elected. Trump also announced <a href="https://www.cryptotimes.io/2024/12/05/donald-trump-officially-nominates-paul-atkins-as-the-sec-chair/" target="_blank" rel="noreferrer noopener">Paul Atkins as his choice</a> for the next SEC Chair, replacing Gensler, and highlighted Teresa Goody Guillén, a blockchain expert, as a potential candidate for SEC leadership.</p> 
<h2 class="wp-block-heading" id="gary-gensler-s-resignation">Gary Gensler’s Resignation</h2> 
<p>The announcement that SEC Chair <a href="https://www.cryptotimes.io/2024/11/21/gary-gensler-resign-from-role-of-sec-chair/" target="_blank" rel="noreferrer noopener">Gary Gensler will step down</a> on January 20, 2025, is being seen as a positive shift for the crypto space.&nbsp;</p> 
<p>Gensler, who has faced criticism for his strict regulatory stance on digital assets, has been a polarizing figure in the industry. His tenure saw high-profile enforcement actions, the rejection of Bitcoin ETF applications, and attempts to classify most cryptocurrencies as securities.</p> 
<p>With his departure, many in the crypto community are hopeful that new leadership will bring clearer guidelines, more innovation, and better support for blockchain technology.</p> 
<h2 class="wp-block-heading" id="ripple-wins-legal-battle">Ripple Wins Legal Battle</h2> 
<p>This year, Ripple Labs <a href="https://www.cryptotimes.io/2023/07/13/ripple-wins-sec-lawsuit-xrp-not-a-security/" target="_blank" rel="noreferrer noopener">achieved a major victory</a> in its lawsuit against the SEC, with U.S. District Judge Analisa Torres ruling that XRP is not a security and does not need to be registered with the SEC.</p> 
<p>This ruling, issued on July 13, marked a significant win for Ripple and the cryptocurrency industry. The decision helped reduce regulatory uncertainty surrounding XRP, potentially leading to increased liquidity and adoption by businesses and investors.&nbsp;</p> 
<h2 class="wp-block-heading" id="nakamoto-documentary">Nakamoto Documentary</h2> 
<p>In October 2024, HBO released its documentary “Money Electric: The Bitcoin Mystery,” directed by Cullen Hoback, which claimed to reveal the real identity of Bitcoin’s pseudonymous creator, Satoshi Nakamoto.</p> 
<p>The documentary <a href="https://www.cryptotimes.io/2024/10/09/petepeter-todd-denies-he-is-satoshi-as-claimed-by-hbo-documentary/" target="_blank" rel="noreferrer noopener">named Peter Todd</a>, a Bitcoin Core developer since 2010, as the possible identity behind Nakamoto. However, Todd quickly denied the allegations on social media, stating he was not Satoshi and dismissing Hoback’s claims as speculative</p> 
<p>The true identity of Satoshi Nakamoto remains a mystery, despite various claims and theories.</p> 
<h2 class="wp-block-heading" id="blackrock-etf">BlackRock ETF</h2> 
<p>In January 2024, the first Bitcoin ETFs <a href="https://www.cryptotimes.io/2024/01/11/blackrocks-ibit-leads-historic-u-s-bitcoin-etf-launch/" target="_blank" rel="noreferrer noopener">began pre-market trading</a>, with BlackRock’s iShares Bitcoin Trust (IBIT) taking the lead.</p> 
<p>This debut generated excitement about spot-Bitcoin ETFs in the U.S. market. The U.S. Securities and Exchange Commission (SEC) also <a href="https://www.cryptotimes.io/2024/01/11/finally-sec-approves-first-spot-bitcoin-etfs/" target="_blank" rel="noreferrer noopener">approved 11 spot Bitcoin ETFs</a> for listing, allowing companies like BlackRock and Grayscale to submit their applications.&nbsp;</p> 
<p>2024 has been a pivotal year for crypto, with key events like Ripple’s RLUSD launch, Hamster Kombat’s rise and fall, and SEC leadership changes. The introduction of Bitcoin ETFs and Ripple’s legal win set the stage for more innovation and clearer regulations in the industry.</p> 
<p>As the crypto landscape continues to evolve, it will be interesting to see how these developments shape the future of digital assets.</p>

A Throwback at the ‘Major’ Events of “Crypto” Space in 2024

Table of Contents

The Crypto Times

Other articles published on Dec 21, 2024

Solaxy Presale Launches as Solana’s First Layer-2 Token With 10X Potential

Analyst Predicts 11,000% XRP Price Rally

3 Reasons Ethereum Could Hit $6,000 by January 2025, Plus One Altcoin Predicted to Surge 400%

Catch the x1000 Wave – Don’t Let These 5 Explosive Crypto Opportunities Pass You By

Crypto Analyst Deems Ongoing Crypto Correction as a Great Buying Opportunity

Ripple Donates $5M to Trump-Vance Inauguration, Boosts Crypto Ties

Join our free newsletter for daily crypto updates!