<div><b><font color="#6ba54a"><span style="font-size: 1rem;">Bitcoin is in for a "very explosive" year in 2024, from exchange-traded funds (ETFs) to legislation and regulation in crypto assets, an expert told Anadolu.</span><br></font></b></div><div><br></div><div>"From the exchange collapses and corporate fallout of 2022, to the regulatory battles of 2023, the crypto industry is still here and growing," said Brandon Zemp, CEO of BlockHash LLC, a blockchain consultancy providing educational resources for small business owners, students, developers, and investors.</div><div><br></div><div>Bitcoin, as well as other cryptocurrencies and some stable coins, which are pegged to the value of a separate asset, crashed in 2022 amid several crises, including the bankruptcy of several companies and exchange platforms, causing turmoil in the market as a lack of regulation and accountability has shaken investor confidence in digital currencies and tokens.</div><div><br></div><div>The size of the entire crypto market plummeted to around $790 billion by the end of 2022 — down almost 65% from its $2.25 trillion close in 2021 as more than $1.4 trillion evaporated that year, according to data compiled by Anadolu. Once the world's third-largest cryptocurrency exchange by daily trading volume, FTX's collapse in late 2022 also led to a sudden meltdown in the crypto market.</div><div><br></div><div>"Crypto is cyclical by nature. That's an inevitable fact. But many of the collapses have come as a result of overzealous, laser-eyed investors buying colorful JPEGs and creating vaporware for the sake of taking an investors money. Every industry attracts a similar crowd, especially when there's an opportunity to profit," said Zemp, who is author of the book, "The Future Economy: A Crypto Insider’s Guide to the Tech Dismantling Traditional Banking."</div><div><br></div><div>Sam Bankman-Fried, the former CEO and founder of Bahamas-based cryptocurrency trading platform FTX, is currently on trial in a New York federal court, facing eight charges - conspiracy to commit wire fraud and securities fraud, standalone charges of conspiracy, securities fraud and wire fraud, money laundering and conspiracy to defraud the US, as well as campaign finance violations.</div><div><br></div><div>After the US Securities and Exchange Commission (SEC) in June filed 13 charges against Binance, the world's largest cryptocurrency exchange platform, the company agreed in November to plead guilty to criminal charges, forfeit $2.5 billion to the US government and pay a fine of $1.8 billion. Its CEO Changpeng Zhao pled guilty to several criminal charges in the US and resigned from his role. - Anadolu Agency</div><div><br></div><div>bnbd24/fas</div>