SEC Agreed to Drop Litigation Against Coinbase: Is Ripple Next? and Bybit Hacked
Towards the end of this week, two major news stories surfaced in the cryptocurrency world. First, the SEC staff agreed to dismiss their case against Coinbase, pending Commission approval.
Coinbase's CEO, Brian Armstrong, announced this development in a video message on X.com, highlighting that while this marks the end of their legal battle, it is just the beginning for building in the crypto space. Armstrong thanked everyone who supported Coinbase and the broader crypto community.
In a separate incident, Bybit, a prominent crypto exchange, was hacked on February 21, 2025, due to unauthorised activity. Bybit's CEO, Ben Zhou, provided an update on X.com, stating that all withdrawals have been processed, and the withdrawal system is back to normal. Zhou expressed regret over the incident and gratitude for the users' patience.
The dismissal of the Coinbase case has fuelled optimism within the XRP community, raising the question: Will the SEC dismiss Ripple's case next?