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Top Crypto News of 2024: SBF’s Fall, Bitcoin’s Rise, and WazirX’s $235M Hack
As the year comes to a close, it’s time to reflect on the most significant crypto news stories that have shaped the market in 2024. From regulatory battles to major hacks, this year has been filled with surprises.
One of the most notable developments was the ongoing conflict between Ripple and the SEC. In August, Ripple secured a major victory when the court ruled that it should only pay $125 million in fines, a far cry from the $2 billion originally sought by the SEC. However, the battle didn’t end there: in October, the SEC announced its intention to appeal the ruling, ensuring that the legal showdown between the two entities would continue into the next year.
Another major story of 2024 was the sentencing of Changpeng Zhao, the former CEO of Binance. Zhao was sentenced to four months in prison after pleading guilty to violating US money-laundering laws. This incident serves as a reminder that even prominent figures in the crypto industry are not immune to regulatory action.
In other news, Indian crypto exchange WazirX suffered a major hack, resulting in the theft of $235 million worth of various cryptocurrencies. The breach led the exchange to freeze transactions and collaborate with forensic experts and law enforcement agencies to track down the stolen funds.
On a more positive note, the market experienced a significant surge following Donald Trump’s re-election as US President. His victory brought renewed optimism to the market, and cryptocurrencies saw sharp gains in the months that followed. Additionally, news of SEC Chairman Gary Gensler’s resignation added to the sense of regulatory change and potential relief for the crypto industry.
Finally, Bitcoin achieved an all-time high by breaking the $100,000 price level, marking a significant milestone in its journey.
Source: coinpedia.org
