The 2024 Finance Rewind video highlights key events such as the approval of Bitcoin and ether spot ETFs, the sentencing of Sam Bankman-Fried, and geopolitical tensions, including the Israel-Hamas conflict. It also discusses market fluctuations, the Federal Reserve’s interest rate cuts, and Donald Trump’s reelection, while looking ahead to 2025’s potential challenges and growth opportunities in AI and pharmaceuticals.
In the 2024 Finance Rewind video, the host reflects on significant events that shaped the year, starting with the approval of the first U.S. Bitcoin spot ETF in January. This marked a pivotal shift in the SEC’s stance on cryptocurrencies, allowing investors to buy Bitcoin through traditional means. The year also saw the approval of an ether spot ETF in July, indicating a growing acceptance of digital assets. Meanwhile, the Chinese real estate giant Evergrande faced liquidation, highlighting ongoing struggles in China’s economy.
March brought the sentencing of Sam Bankman-Fried, the founder of the failed cryptocurrency exchange FTX, to 25 years in prison for financial misconduct. Despite the collapse of FTX, the company announced plans to refund 98% of its customers, aided by a rebound in cryptocurrency values. The year was also marked by geopolitical tensions, particularly the escalation of the Israel-Hamas conflict in April, which resulted in significant casualties and ongoing instability in the region.
In the tech sector, Nvidia briefly surpassed Microsoft as the world’s most valuable company in June, driven by unprecedented demand for AI chips. This was part of a broader trend of companies investing heavily in generative AI technologies. However, the market faced turbulence in August, with a significant unwinding of Japanese carry trades leading to a $6.4 trillion loss in global markets. This event coincided with labor data that triggered recession indicators, although the S&P 500 managed to recover its losses shortly after.
The Federal Reserve cut interest rates for the first time in four years in September, signaling a potential end to its aggressive fight against inflation. This was followed by a major rally in Chinese stocks as the government announced stimulus measures to support economic growth. In November, Donald Trump was reelected as the 47th president of the United States, which was seen positively by markets due to his pro-business stance and crypto-friendly policies. However, his election raised concerns about potential trade wars and geopolitical conflicts.
The video concludes with a look ahead to 2025, highlighting ongoing risks such as the conflict in Ukraine, tensions in the Middle East, and economic uncertainties. Despite these challenges, there are growth drivers in the form of advancements in AI and pharmaceuticals. The host expresses gratitude for the audience’s support throughout the year and looks forward to a promising 2025, emphasizing the importance of staying informed about the evolving economic landscape.