As the world celebrates the arrival of 2025 with fireworks and festivities, it’s the perfect time to reflect on the cryptocurrency events that shaped the past year. From historic milestones to regulatory shake-ups, 2024 was a year that left an indelible mark on the cryptocurrency industry. Here are the top six news stories about cryptocurrency in 2024.
- Bitcoin ETFs Revolutionize the Market
- Bitcoin Hits $100,000
- Gary Gensler Announces Resignation
- Bitcoin Halving Drives Market Momentum
- Mt. Gox Creditors Finally Receive Repayments
- Ripple Launches RLUSD Stablecoin
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1. Bitcoin ETFs Revolutionize the Market
The introduction of Bitcoin Exchange-Traded Funds (ETFs) in January 2024 reshaped the cryptocurrency landscape. The year saw BlackRock’s iShares Bitcoin Trust ETF as one of the best performers as it continued to attract record inflows.
Employed by BlackRock and other companies, these ETFs provided investors with an easy and checked way to interact with Bitcoin, making the asset more liquid.
By the end of the year, Bitcoin ETFs collectively surpassed Satoshi Nakamoto’s estimated holdings. The move also indicated the increasing integration of cryptocurrency into the world’s financial systems. Experts see strong growth of ETF in 2025 and institutional acceptance of Bitcoin by portfolios.
2. Bitcoin Hits $100,000
A temporary recovery on December 5, 2024, brought Bitcoin over the $ 100,000 mark, regarded as a record in the cryptocurrency market. The increase was attributed to the favorable macroeconomic environment, such as the Federal Reserve interest rates cut.
The attainment affirmed Bitcoin as one of the leading digital assets and affirmed its utility as an inflation hedge. Analysts and enthusiasts regarded this so-called psychological level as an achievement causing an increase in the popularity of cryptocurrency as an investment tool.
3. Gary Gensler Announces Resignation
As SEC Chair Gary Gensler announced his resignation, November brought a seismic shift in the regulatory landscape. Perhaps no one is more associated with an assertive approach to regulating cryptocurrencies than Gensler. During his years, numerous enforcement actions have been taken against various firms, including Coinbase, Binance, and Ripple.
His departure was widely celebrated within the cryptocurrency community, which hopes for a more collaborative approach under incoming Chair Paul Atkins. The predicted shift in management focus is to make innovation governance more predictable and conducive to the fast-growing sector.
4. Bitcoin Halving Drives Market Momentum
Bitcoin faced the fourth halving on April 19, 2024, and the block reward from 6.25 Bitcoin was slashed down to 3.125. This, pivotal to Bitcoin’s design, strengthens its scarcity and economic structure.
Despite its unprofitability to small miners, the market was bullish later in the year. Traditionally, each halving is connected to an increase in the price of this cryptocurrency, and, indeed, the latter was the case in 2024. It highlighted the deflationary characteristics that have attracted more long-term investors to Bitcoin.
5. Mt. Gox Creditors Finally Receive Repayments
The long-awaited Mt. Gox repayment process began in July 2024, marking a significant step toward closure for one of cryptocurrency’s most infamous incidents. The 2014 hack, which resulted in the loss of 750,000 BTC, had cast a shadow over the market for years.
Despite fears of mass sell-offs destabilizing the market, most creditors chose to hold their tokens. This decision provided stability and demonstrated the growing maturity of the cryptocurrency space. The repayments marked the beginning of the end of a saga that had loomed over Bitcoin for a decade.
6. Ripple Launches RLUSD Stablecoin
Ripple ended the year hosting a regulatory-compliant stablecoin called RLUSD, which was launched. This was evident when Ripple continued to produce new products for its clients while combating legal issues with the SEC.
By implication, RLUSD is positioned to challenge incumbent stablecoins such as Tether’s USDT and Circle’s USDC directly. However, Ripple’s entry into the stablecoin sector shows that it has come of age and caters to compliance and institutional investors.
The introduction of RLUSD places Ripple in a strategic place within the development of the stablecoin market.
Conclusion
As the year 2024 was rich in both technological developments and changes in legislation, it demonstrated that the sector contains the necessary potential. These events put the foundation for future growth and adoption as we progress throughout 2025 within the digital asset ecosystem.
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