In 2024, the cryptocurrency industry experienced an epic frenzy. This year saw technological innovations, market turbulence, and policy changes advancing simultaneously. The crypto market welcomed new dawns while exposing unresolved challenges. Here are the eight most noteworthy events of the year, each reshaping the industry landscape like a domino effect.

1. "CZ Returns": Can Binance's Savior Turn the Tide?

On September 29, crypto legend Zhao Changpeng (CZ) was released from prison and returned to helm Binance. The founder, arrested on suspicion of money laundering, found himself back in the spotlight. His return not only injected hope into Binance but also raised expectations for change across the industry. However, CZ's comeback may not be all good news—global regulatory pressures could escalate as a result. Can he lead Binance to rise again in a chaotic market, becoming a "stabilizing force" for investors? This is the most anticipated suspense in the industry.

2. Bitcoin ETF Launch: A "Shot in the Arm" for Institutional Players

In January 2024, the U.S. Securities and Exchange Commission (SEC) officially approved several Bitcoin spot ETFs, marking a new phase of deep integration between the crypto market and traditional finance. The arrival of ETFs transformed Bitcoin from a "crypto game" into an "institutional arena." According to JPMorgan's predictions, the popularity of ETFs could push Bitcoin's market cap beyond $2 trillion. But the question remains: can retail investors catch a ride on this wave of capital? This is just the beginning.

3. Bitcoin's "$100,000 Party": Who's Behind the Bull Market?

In December, Bitcoin surged past $100,000, igniting market euphoria. From Wall Street to social networks, the call for "BTC to the Moon" echoed everywhere.
Behind this bull market were the Federal Reserve's loose policies and the continuous entry of institutional investors. Santiment data showed that many whale wallets had quietly accumulated during the price lows. For ordinary investors, this surge was not just luck but a "required course" on market rhythm.

4. PayPal's Push into Stablecoins: "PYUSD" Disrupts Global Payment Landscape

In May, payment giant PayPal made a significant move by launching its own stablecoin, PYUSD, supported by the Solana blockchain for underlying technology. This initiative not only broadened the application of stablecoins but also announced to the world that payment industry giants have set their sights on the lucrative crypto space.
In the future, stablecoins may no longer be just tools for "crypto players" but could become central to everyday payments, cross-border remittances, and even loan agreements. PayPal's move could rewrite the payment rules of global finance.

5. MoonPay Takes Texas: "Cowboy State" Becomes New Frontier for Crypto Payments

In 2024, MoonPay secured a remittance license in Texas, officially entering the U.S. crypto payment market. Users can purchase up to 64 cryptocurrencies through Venmo and PayPal, injecting new vitality into this Bitcoin mining hub. The significance of this local victory far exceeds expectations—it proves that compliance is not a monster and demonstrates the deep integration potential between traditional finance and the crypto market. Texas's precedent may serve as a testing ground for more regions to open up to crypto payments.

6. Ethereum's "Cairo" Upgrade: Expanding the Layer 2 Battlefield

Ethereum's "Cairo" upgrade in 2024 reignited market expectations for the future of public chains. The core optimizations focused on enhancing Layer 2 capabilities, significantly reducing transaction fees while improving network efficiency.
Post-upgrade, Ethereum further solidified its dominance in the DeFi and NFT sectors. For developers and users, lower costs and higher performance mean that Ethereum remains the "king's path" for decentralized applications.

7. New U.S. Crypto Regulations: "Transparency Act" Opens the Regulatory Curtain

In July 2024, the U.S. passed the "Cryptocurrency Transparency Act," which is seen as a "coming of age" for the industry. The act clearly defines tax reporting, stablecoin issuance, and the securities nature of tokens. Although compliance thresholds have increased, the crypto industry is maturing as a result. For projects aiming for long-term development, this regulatory reform undoubtedly presents a new opportunity.

8. The Conclusion of FTX: A Two-Year Disaster Comes to an End

In 2024, the FTX bankruptcy case finally reached a conclusion, with the founder sentenced to a lengthy prison term and asset return plans gradually clarified. However, the compensation issues for affected investors remain contentious. This turmoil not only plunged the industry into a crisis of trust but also prompted more reflection on the risk control and transparency of exchanges.
The lessons from this incident are profound and costly: the future of the crypto market requires not only innovation but also more robust risk control and regulations.

2024 is a year of transformation, a stage where opportunities and challenges coexist. From the "golden age" of Bitcoin ETFs to the global rise of stablecoins, each story reveals the infinite possibilities of this industry. For investors, the future crypto market may be more complex than before, but it is also filled with hope. What are your thoughts on the crypto frenzy of 2024? Where do you see future opportunities? Let's discuss in the comments!

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