{"id":15301,"date":"2025-02-24T20:53:29","date_gmt":"2025-02-24T20:53:29","guid":{"rendered":"https:\/\/businesstriumphs.com\/index.php\/2025\/02\/24\/crypto-market-recap-bybit-suffers-us1-5-billion-hack-sec-clears-opensea-robinhood\/"},"modified":"2025-02-24T20:53:29","modified_gmt":"2025-02-24T20:53:29","slug":"crypto-market-recap-bybit-suffers-us1-5-billion-hack-sec-clears-opensea-robinhood","status":"publish","type":"post","link":"https:\/\/businesstriumphs.com\/index.php\/2025\/02\/24\/crypto-market-recap-bybit-suffers-us1-5-billion-hack-sec-clears-opensea-robinhood\/","title":{"rendered":"Crypto Market Recap: Bybit Suffers US$1.5 Billion Hack, SEC Clears OpenSea, Robinhood"},"content":{"rendered":"<\/p>\n

Here\u2019s a quick recap of the crypto landscape for Monday (February 24) as of 9:00 a.m. UTC.<\/strong><\/p>\n

\n

Bitcoin and Ethereum price update <\/h3>\n

Bitcoin (BTC) is currently trading at US$95,872, reflecting a slight decrease of 0.059 percent over the past 24 hours. The day\u2019s trading range has seen a high of US$96,506 and a low of US$95,097.<\/p>\n

Ethereum (ETH) is priced at US$2,686.78, marking a decline of 4.49 percent over the same period. The cryptocurrency reached an intraday high of US$2,835.39 and a low of US$2,667.85.<\/p>\n<\/div>\n

\n

Altcoin price update <\/h3>\n

Solana (SOL)<\/strong> is currently valued at US$159.38, down 6.03 percent over the past 24 hours. SOL experienced a high of US$169.84 and a low of US$155.75 during Monday\u2019s trading session.<\/p>\n

XRP<\/strong> is trading at US$2.49, reflecting a 3.11 percent decrease over the past 24 hours. The cryptocurrency recorded an intraday high of US$2.60 and a low of US$2.44.<\/p>\n

<\/span>Sui (SUI)<\/strong> is priced at US$3.21, showing a 4.75 percent decrease over the past 24 hours. It achieved a daily high of US$3.44 and a low of US$3.18.<\/p>\n

<\/span>Cardano (ADA)<\/strong> is trading at US$0.7363, reflecting a 5.38 percent decrease over the past 24 hours. Its highest price on Monday was US$0.7782, with a low of US$0.7279.<\/p>\n<\/div>\n

\n

Crypto news to know <\/h3>\n

Hackers steal US$1.5 billion from Bybit in \u2018biggest digital heist ever\u2019<\/h4>\n

Cryptocurrency exchange Bybit has suffered what is believed to be the largest digital theft in history, losing US$1.5 billion worth of Ethereum to hackers this past Friday (February 21). <\/p>\n

The Dubai-based platform reported that the attacker gained access to one of its Ethereum wallets during a routine transfer between cold and warm storage, successfully moving the funds to an unknown address.<\/p>\n

Bybit CEO Ben Zhou has reassured users that the exchange remains solvent and has enough funds to cover losses, ensuring all customers are fully reimbursed. <\/p>\n

However, the platform has experienced a surge in withdrawal requests, causing processing delays. In response, Bybit has offered a 10 percent reward \u2014 up to US$140 million \u2014 for assistance in recovering the stolen funds. <\/p>\n

Some security analysts suspect the involvement of North Korean state-backed hacker group Lazarus, known for previous large-scale crypto heists.<\/p>\n

SEC closes investigation into OpenSea, Robinhood with no charges filed<\/h4>\n

The US Securities and Exchange Commission (SEC) has officially ended its investigation into OpenSea, the largest non-fungible token (NFT) marketplace, without pursuing any charges. <\/p>\n

The inquiry, which began in August 2024, was part of the SEC\u2019s broader efforts to regulate NFT platforms that might be classified as unregistered securities marketplaces.<\/p>\n

OpenSea CEO Devin Finzer announced the decision last Friday, marking a win for the NFT space. Industry figures welcomed the move, as classifying NFTs as securities could have hindered innovation. <\/p>\n

The decision follows a similar dismissal of a lawsuit against Coinbase, indicating a potential shift toward a more crypto-friendly regulatory stance under the Trump administration.<\/p>\n

Similarly, Robinhood Markets (NASDAQ:HOOD) announced that the SEC has concluded its investigation into its cryptocurrency operations without pursuing enforcement action. <\/p>\n

The company previously received a Wells notice, signaling potential charges, but successfully argued against them.<\/p>\n

Dan Gallagher, Robinhood\u2019s chief legal officer, stated that the investigation was unnecessary, emphasizing that the company has always complied with federal securities laws. <\/p>\n

Franklin Templeton files for SOL-based ETF<\/h4>\n

Global asset management giant Franklin Templeton has filed with the SEC to launch an exchange-traded fund (ETF) for SOL, the sixth largest cryptocurrency by market capitalization. <\/p>\n

The proposed Franklin SOL ETF would track SOL\u2019s price, with assets held by Coinbase Custody Trust Company and listed on Cboe\u2019s BZX Exchange. This move follows a wave of similar applications from firms like Grayscale, Bitwise and VanEck, reflecting growing interest in SOL-based investment products.<\/p>\n

SOL\u2019s price has recently declined to the US$159 range, down more than 16 percent in the past week, amid controversy over the Libra token and a slowdown in meme coin projects. However, demand for crypto ETFs continues to surge, with Bitcoin ETFs seeing over US$40 billion in net inflows in the past year.<\/p>\n<\/div>\n

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.<\/strong><\/strong><\/p>\n

Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.<\/strong><\/p>\n<\/p>\n

This post appeared first on investingnews.com<\/div>\n","protected":false},"excerpt":{"rendered":"

Here\u2019s a quick recap of the crypto landscape for Monday (February 24) as of 9:00 a.m. UTC. Bitcoin and Ethereum price update Bitcoin (BTC) is currently trading at US$95,872, reflecting a slight decrease of 0.059 percent over the past 24 hours. The day\u2019s trading range has seen a high of US$96,506 and a low of […]<\/p>\n","protected":false},"author":0,"featured_media":15302,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-15301","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investing"],"_links":{"self":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/15301","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/comments?post=15301"}],"version-history":[{"count":0,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/15301\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media\/15302"}],"wp:attachment":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media?parent=15301"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/categories?post=15301"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/tags?post=15301"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}