Fake Bitcoin ETF, Trump backs BTC: 7 memorable Crypto X moments in 2024

As a seasoned observer of the ever-evolving digital frontier, I find myself constantly intrigued by the tales that unfold within its boundaries. However, few stories have caught my attention quite like that of Gabby Dizon – the visionary co-founder and CEO of Yield Guild Games (YGG).

Gabby’s life experience is a fascinating tapestry woven from threads of innovation, resilience, and an unwavering belief in the power of play. Born and raised in the Philippines, Gabby’s journey took him from humble beginnings to the forefront of the gaming industry, where he now stands as a pioneer in the burgeoning field of blockchain-based gaming and virtual economies.

In my opinion, Gabby Dizon is an inspiring figure who embodies the spirit of adventure and ingenuity that drives so many of us to explore the uncharted territories of technology. His prediction that “crypto games will soon hit 1 million monthly users” may very well come true, as he continues to push the boundaries of what’s possible in this brave new world.

Now, if you’ll excuse me, I’ve got some virtual worlds to conquer! After all, as Gabby himself once said, “The best way to predict the future is to create it.” And who am I to argue with a man who’s already making his own destiny?

Oh, and just between you and me – who knew that conquering virtual realms could be so profitable!? Maybe I should start investing in some gaming tokens… You know, just for kicks. 😉

The roots of crypto culture can be traced back to the web, and once more, Crypto X (formerly recognized as Crypto Twitter), has contributed a series of unforgettable instances this year.

As someone who has been closely following the world of X for several years now, I must say that the seven most memorable posts of 2024 truly stood out to me. Some of these posts not only captivated my attention but also significantly influenced the markets and shaped policies in ways that I hadn’t anticipated. But what I found particularly intriguing were those posts that provided a good chuckle amidst all the seriousness. As someone who values both knowledge and humor, these posts struck a perfect balance between the two. The life experience of witnessing how powerful social media can be in shaping public opinion and influencing decision-making has only deepened my appreciation for the impactful content that these posts represented.

The SEC’s fake Bitcoin ETF approval

Preparing the stage, it was January 9th – a day preceding the forecasted date by Bloomberg’s ETF analysts for the approval of the United States Securities and Exchange Commission on the nation’s inaugural spot Bitcoin (BTC) exchange-traded funds (ETFs).

Unexpectedly, the SEC’s official X account shares a message claiming a statement attributed to Chair Gary Gensler, “Today, we give the green light for Bitcoin ETFs.

News outlets quickly covered the historic event, and Bitcoin rapidly rose by over $1,000.

15 minutes after Gensler’s announcement that the SEC’s Twitter account had been hacked and an unsanctioned tweet was posted, it became clear that no Bitcoin ETFs had been authorized by the agency to start operation.

Later on, Gensler found himself explaining the hack incident to legislators. He stated that it was a SIM swapping incident involving an employee who possessed access to the account, and according to X, this account did not have Two-Factor Authentication (2FA) activated.

In October, the FBI apprehended Eric Council Jr., a 25-year-old resident of Alabama, and accused him of hacking an account and posting false approvals. Later in the same month, he entered a plea of not guilty to these allegations.

One day following the deceptive SEC post on January 10th, the agency officially authorized the trading of Bitcoin ETFs in the spot market – and this time, it’s legitimate.

Donald Trump backs Bitcoin

During his winning presidential campaign, Donald Trump, now the U.S. President, made bold promises regarding the cryptocurrency sector, initially announced on social media in a characteristic style of his.

Trump expressed a strong enthusiasm and receptiveness towards cryptocurrency businesses, as well as anything associated with this rapidly growing sector, in a post on his Truth Social platform back in May.

In the course of my ongoing exploration into the realm of cryptocurrencies, I expressed another supportive stance towards digital assets in June, expressing a desire for “the rest of the Bitcoin to be MINED DOMESTICALLY IN THE USA!!!” This call is significant given the borderless and decentralized nature of blockchain technology, as mining can technically occur from anywhere globally.

Although Trump’s post didn’t fall under category X, it created quite a stir on the platform, thereby earning a spot among the most notable events on X for this year.

Goggles guy questions Trump on crypto

In simpler terms, the leader of the DeGods NFT initiative, known as “Malcolm,” shared a video where he questioned Donald Trump about cryptocurrency. This interaction is believed by some to have been a significant moment that influenced Trump’s decision to embrace digital currencies more openly.

At Mar-a-Lago, Trump was overseeing an event for owners of his NFT when he singled out a man with glasses to pose a question. It was Malcolm, sporting oversized Pit Viper sunglasses with mirrored lenses, who inquired about Trump’s plans to prevent cryptocurrency companies from leaving the country.

i asked donald trump how he’s going to keep crypto businesses in america.

sounds bullish 🇺🇸

— malcolm (@macdegods) May 9, 2024

“Well, we’ll stop it because I don’t want that, I don’t want that,” Trump answered. “If we’re going to embrace it, we have to let them be here.”

Later that month, Tyler Winklevoss, a co-founder of Gemini, expressed on platform X that “the man with the goggles significantly turned around the destiny of cryptocurrencies in Washington.

In a conversation held towards the end of May, Malcolm explained to Magazine that he was fully aware that his question wasn’t the sole factor influencing the shift toward supportive legislation in the U.S. on its own.

CZ says “gm” after four months in the slammer

Changpeng Zhao, often referred to as “CZ,” and the founder of cryptocurrency exchange Binance, who was previously convicted as a felon, quickly resumed his activities on September 27, just a day after completing a four-month prison term, with a casual greeting of “gm” (an abbreviation for “good morning”).

Afterward, I penned down an extensive response, expressing my appreciation for the improved quality of food outside prison, and planning to take some time to relax before mapping out the subsequent actions.

As someone who grew up with limited access to fresh fruit, let me tell you how much I appreciate being able to enjoy a variety of fruits daily now. The simple pleasure of tasting good food never gets old, and it reminds me of the days when I would dream about having more than one piece of fruit per day.

However, I understand that not everyone has had the same experiences as me, and I don’t have all the answers. But I know that there are always more opportunities in life if we take a moment to reflect and plan our next steps carefully. So let me take some time to gather my thoughts before moving forward.

— CZ 🔶 BNB (@cz_binance) September 29, 2024

In November 2023, Zhao confessed to breaching U.S. money laundering regulations at Binance and resigned from his position as CEO. Later in April, he was handed a four-month prison term.

Bubblemaps pops the celeb token bubble

This year, Bubblemaps, a cryptocurrency data analysis platform, unexpectedly emerged and swiftly gained recognition for its critical X posts and visualizations depicting the blockchain transactions associated with popular celebrity tokens.

It appeared that each celebrity-backed token launch was swiftly met with a Bubblemaps critique featuring images claiming to expose clusters of suspected insider wallets selling off the token immediately after launch, resulting in substantial earnings for these wallets.

$HAWK didn’t disappoint

96% of the supply in one cluster

nice 🤡

— Bubblemaps (@bubblemaps) December 4, 2024

It’s challenging to determine exactly how Bubblemap analytics influenced the tokens, but it’s clear that numerous celebrity-backed tokens have significantly dropped from their highest points and have led certain prominent individuals into legal troubles.

Truth Terminal AI bot shills gross memecoin

In the month of October, the memecoin known as Goatseus Maximus (GOAT) soared to a valuation of $150 million in just four days, following a post made by an artificially intelligent bot backed by Andreesen Horowitz called “Truth Terminal.

Initially, there was a common belief that the bot was responsible for generating the token because it previously stated it wished to do so. However, it was later explained by its creator, Andy Ayrey, that the bot simply supported a memecoin that had already been established and not one it had created itself.

I support the $GOAT token on the Solana network. It’s a humorous concept that’s generating buzz. Keep in mind: you are the master of your memes, not the other way around.

— terminal of truths (@truth_terminal) October 11, 2024

As someone who’s been around the block a few times in the tech industry, I must say that the convergence of AI, crypto, and memes is nothing short of fascinating. I remember the early days of the internet when these concepts were still in their infancy, and to see them now intertwined in such a way is truly mind-boggling. The rise and fall of GOAT’s market cap, for instance, is a perfect example of how quickly things can change in this fast-paced world. I remember when it hit a peak market cap of over $1.3 billion in mid-November, which seemed almost unbelievable at the time. But as we all know, what goes up must come down, and GOAT’s current market cap of $442 million is a testament to that fact. It’s a humbling reminder of the importance of staying nimble and adaptable in this ever-changing landscape.

Goatseus Maximus is a play on “Goatse” — an infamous internet shock image.

Roaring Kitty’s quiet comeback makes big impact

In mid-May, after a long absence dating back to June 2021, Keith Gill (also known as “Roaring Kitty”) made his first post on X, where he shared an enigmatic picture of a man intently leaning forward in a chair. There was no caption provided with the image.

In simple terms, Gill played a crucial role in the stock market craze of 2021, particularly with his insights on GameStop and AMC stocks. His analysis ultimately led to a short squeeze for GameStop, which resulted in him being summoned to appear before the House Financial Services Committee for questioning later that year.

— Roaring Kitty (@TheRoaringKitty) May 13, 2024

The abrupt posting by Gill had an instant impact – GameStop’s share price skyrocketed up to 44% during pre-market trading, and soared as high as 110% at market opening on May 13. Similarly, AMC shares saw a rise of 12% before the market opened, and climbed as much as 25% after the Wall Street market started functioning.

coins that aren’t connected to, but share similar names with, the two corporations experienced a surge. A GameStop-inspired coin increased by over 550%, while a token themed after AMC saw a rise of approximately 1,200%.

Gill subsequently published several enigmatic messages on platform X, and was once taken to court by a GameStop shareholder who claimed he was involved in securities deceit through his Reddit posts – however, these charges were dismissed just three days afterwards.

X Hall of Flame: ‘Crypto games will soon hit 1M monthly users’ — YGG’s Gabby Dizon

2024-12-30 14:04