Source: Cointelegraph Original: "{title}"
This week, the U.S. Securities and Exchange Commission dismissed one of the most controversial lawsuits in the cryptocurrency industry—a lawsuit against Ripple Labs that has lasted over four years.
In another significant regulatory development, a Solana-based futures exchange-traded fund (ETF) made its debut in the U.S., which may signal that the approval of a spot Solana (SOL) ETF is the "next logical step" for lawmakers.
Ripple's CEO Brad Garlinghouse stated at the Blockworks 2025 Digital Assets Summit in New York that the SEC's dismissal of the years-long lawsuit against Ripple Labs, the developer of the XRP ledger blockchain network, is a "victory for the industry."
On March 19, Garlinghouse revealed that the SEC would drop its legal action against Ripple, ending a four-year lawsuit against the blockchain developer over allegations of issuing $1.3 billion in unregistered securities in 2020.
"On March 19, it felt like a victory for the industry and the beginning of a new chapter," Garlinghouse said at the summit he attended with Cointelegraph.
Ripple’s CEO said the SEC is dropping its case against the blockchain developer. Source: Brad Garlinghouse
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According to industry observers, the cryptocurrency industry is set to launch the SOL futures ETF for the first time, a significant development that could pave the way for the first spot SOL ETF, becoming the "next logical step" for cryptocurrency-based trading products.
Volatility Shares will launch two SOL futures ETFs on March 20, namely the Volatility Shares Solana ETF (SOLZ) and the Volatility Shares 2X Solana ETF (SOLT).
Volatility Shares Solana ETF SEC filing. Source: SEC
The debut of the first SOL futures ETF may bring significant new institutional adoption for the SOL token, according to Ryan Lee, chief analyst at Bitget Research.
The analyst told Cointelegraph:
The Solana ETF will increase institutional adoption by "providing regulated investment tools, attracting billions in capital, and strengthening Solana's competitiveness against Ethereum," Lee added, "Ethereum's entrenched ecosystem remains a significant barrier."
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Pump.fun has launched its own decentralized exchange (DEX) PumpSwap, which has the potential to replace Raydium as the primary trading venue for Solana-based memecoins.
Pump.fun stated in a post on X that memecoins that successfully launch liquidity or are "bound" on Pump.fun starting March 20 will be directly migrated to PumpSwap.
Previously, bound Pump.fun tokens would migrate to Raydium, which became the most popular DEX on Solana, primarily due to memecoin trading activity.
According to Pump.fun, PumpSwap "functions similarly to Raydium V4 and Uniswap V2," aiming to "create the most frictionless coin-to-coin trading environment."
"Pump.fun stated: "Migration is a major friction point—it slows down the momentum of coins and brings unnecessary complexity for new users.
"Now, migration can be done instantly and for free.
Raydium’s trading volumes surged in 2024, largely due to memecoins. Source: DefiLlama
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Following the historic cyber theft, most of the funds stolen from Bybit by hackers remain traceable, and blockchain investigators continue to work on freezing and recovering these funds.
On February 21, Bybit suffered the largest hack in history, losing over $1.4 billion in liquid Ether (stETH), Mantle Staked ETH (mETH), and other digital assets, shaking the cryptocurrency industry.
Blockchain security firms, including Arkham Intelligence, have confirmed that North Korea's Lazarus Group is likely behind the Bybit breach, as the attackers continue to exchange funds in an attempt to make them untraceable.
Ben Zhou, co-founder and CEO of cryptocurrency exchange Bybit, stated that despite the Lazarus Group's efforts, over 88% of the stolen $1.4 billion remains traceable.
The CEO wrote in a post on X on March 20:
Source: Ben Zhou
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The creator of the Libra token has launched another memecoin, whose on-chain patterns are similar to some concerning patterns that suggest significant insider trading activity before the coin's 99% crash.
Hayden Davis, co-creator of the Melania Official Commemorative Coin (MELANIA) and the Libra token, has launched a new Solana-based memecoin with over 80% of its internal supply.
Davis launched the WOLF memecoin on March 8, amid rumors that Wall Street's Wolf, Jordan Belfort, would launch his own token.
The token's market cap once reached $42 million. However, according to a post on X by Bubblemaps on March 15, 82% of the WOLF supply is bound under the same entity, stating:
"Bubblemaps shows some strange things—$WOLF has the same pattern as the token $HOOD launched by Hayden Davis. Is he also the mastermind behind this token?
Source: Bubblemaps
Blockchain analysis platforms show that transfers spanned 17 different addresses, originating from an address owned by Davis, "OxcEAe."
Bubblemaps added: "He funded these wallets months before the launch of $LIBRA and $WOLF, transferring funds through 17 addresses and 2 chains." The bubble map reveals some strange phenomena—$WOLF's pattern is the same as the token $HOOD launched by Hayden Davis. Is he also the mastermind behind this token?
Source: Bubblemaps
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According to data from Cointelegraph Markets Pro and TradingView, most of the top 100 cryptocurrencies by market capitalization closed the week in the green.
Total value locked in DeFi. Source: DefiLlama
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