Gensler, Trump, Coinbase, and More | Airdrop Alert Pro

There is a clear divide between the heroes and villains of the crypto industry in 2024. It has been overshadowed by regulatory hurdles led by Gary Gensler and anti-crypto politicians, while hackers have exploited vulnerabilities, causing huge damage.

However, figures such as Donald Trump, Coinbase, and Hester Peirce have emerged as advocates for a clear, innovative, and crypto-friendly future.

Villains: Who will disrupt cryptocurrencies in 2024?

Gary Gensler and the SEC

In 2024, U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler emerged as one of the most polarizing figures in the crypto industry. Gensler is known for his strict regulatory stance, becoming a villain in the eyes of many cryptocurrency enthusiasts and industry players. During his tenure, aggressive enforcement actions and regulatory ambiguity left cryptocurrency companies uncertain about their compliance requirements.

Under Gensler, SEC demands unprecedented measures $2.6 billion budget to crack down on crypto marketsignaling a more aggressive stance on the industry. However, his heavy-handed tactics began to cause a backlash. an american judge SEC Sanctions The moment of abuse of power in crypto cases has heightened concerns about regulatory overreach.

Gensler lacks clarity on what constitutes a cryptocurrency Safety Adding to further frustration. although Testify before CongressGensler has faced intense scrutiny over the lack of clear rules, especially when it comes to Ethereum.

It is worth noting that his Threats to block proposed Ethereum ETF It caused great outrage. In response, even major cryptocurrency companies like Consensys files lawsuit against SECaccusing Gensler of overstepping his authority.

Gensler’s mistakes didn’t go unnoticed. Amid growing criticism, Hester Peirce, one of the SEC commissioners known as the “crypto mom,” Acknowledging flaws in the agency’s approach.

Gensler’s alignment with the Biden administration has added fuel to the fire. Concerns peaked when Vice President Kamala Harris reportedly considered appointing Gensler as vice president. finance ministermaking the crypto community nervous. Biden and Harris’ hostility toward cryptocurrencies solidifies their status as rivals in 2024.

Still, as calls for accountability grew, Gensler announced his imminent resignation. Scheduled for early 2025. his expected replacement, Paul AtkinsThe candidate who will take office in January is a more crypto-friendly candidate, providing a glimmer of hope for the industry.

Hackers: North Korea and Beyond

Hackers continue to plague crypto markets in 2024, $2.1 billion in losses through third quarter (Q3) Alone. Some of the most notable events include:

1. Radiance Capital suffered a devastating blow $50 million hacklater traced to North Korean cybercriminals.
2. hacker Bypassing Coinbase’s AML systemstole $15.9 million.
3. Bitfinex Hack: After years of investigation, one of the perpetrators of the infamous Bitfinex hack has been jailed five years Laundered $10 billion with his wife There are 18 months.
4. this SEC Twitter account compromisedtriggering a massive investigation that ended with an arrest.

These attacks, combined with North Korea’s evolving strategyreflecting the ongoing threat of cybercrime in the cryptocurrency space. Even high-profile celebrities have fallen victim to cryptocurrency-related hacks.

football star Kylian Mbappe and Lionel Messi Facing Cryptocurrency Scam. Recently, the rapper Drake’s X Account Hacked to promote fraudulent meme coins.

Heroes: Who Saves Cryptocurrency in 2024?

Donald Trump: Cryptocurrency Champion

In stark contrast to the anti-crypto forces, Donald Trump has emerged as the crypto industry’s most prominent hero. Trump’s pro-cryptocurrency remarks ahead of the 2024 U.S. presidential election have spurred the industry. He arranged a A comprehensive blueprint for cryptocurrency regulationpromising to overturn restrictive rules and promote innovation.

trump card Vows to fire Gary Gensler He was recently replaced by Paul Atkins, marking a dramatic shift in the SEC’s approach. Trump’s vision expanded further to include plans to create a Bitcoin reserve as part of U.S. financial policy.

He also promised Overhauling outdated cryptocurrency regulations Beyond Gensler. As part of his pledge, Trump recently appointed david sachs As a key figure in the repeal of Operation Choke Point 2.0, the policy was believed to be aimed at crypto-friendly financial institutions.

Additionally, Trump proposed the creation of DOGE (Department of Government Efficiency), which would include influential figures such as Elon Musk and Vivek Ramaswamyadding a humorous yet symbolic spin to his crypto-retweeting activities.

Coinbase: Industry Whistleblower

Cryptocurrency trading giant Coinbase has played a crucial role in exposing unfair practices by U.S. regulators. company disclose FDIC advises banks to restrict crypto services.

The move raised concerns about institutional bias against digital assets. Coinbase’s advocacy work highlights the need for a balanced regulatory approach to protect innovation.

In late October, Coinbase CEO Brian Armstrong It highlights growing dissatisfaction within the crypto industry over what many see as excessive regulatory scrutiny. He also criticized the agency for taking ambiguous enforcement actions during Gensler’s tenure.

Additionally, Armstrong highlighted some controversial statements from financial regulators. Based on these, he asked the next SEC chairman to withdraw what he said “trivial cases” and apologized to the American public.

“The next SEC chairman should withdraw all frivolous cases and apologize to the American people. It will not undo the damage done to the country, but it will start the process of restoring trust in the SEC as an institution,” Armstrong release.

Hester Pierce: Voice of Reason

Within the SEC, Hester Peirce continues to advocate for cryptocurrency innovation. she Publicly acknowledge shortcomings in the agency’s enforcement operations This is a rare moment of introspection within regulators. Pierce is still ray Be hopeful and advocate for clear rules and fair treatment for cryptocurrency companies.

“We knew ahead of time there were legal issues as to whether we had the authority to do what we did, but we went ahead,” Pierce explain.

As Gensler prepares to step down and Trump’s vision gains momentum, 2025 promises to be a year of change. The industry’s resilience in the face of adversity reflects its potential to thrive, so long as the industry addresses these challenges through strong leadership and clear regulation.