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Crypto crashes again 🫣

Crypto crashes again 🫣

Bitcoin's trading at $92K while Ethereum, Solana, and XRP are all down by double digits after a wild few days in the crypto industry.

Andrew Hayward
February 24, 2025

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📝 What you need to know

You might not want to look at the charts right now.

Crypto prices are crashing Monday following an action-packed few days for industry moves. Bitcoin just hit $92,000 while major coins like Ethereum, Solana, XRP, and Dogecoin are all showing brutal drops in excess of 10% over the last day. Solana hasn’t been this low since October.

The markets plunge comes just days after crypto exchange Bybit was hacked for over $1.4 billion worth of Ethereum and related tokens on Friday, marking crypto’s worst-ever hack. And there was more bad news Monday, with OKX revealing that it pleaded guilty to U.S. charges and will pay over $500 million in penalties and forfeiture.

On the other hand, there’s also been good news—Robinhood announced Monday that the SEC is dropping its investigation against the platform, joining OpenSea and Coinbase in securing recent wins against the regulator. But the markets certainly aren’t celebrating that kind of news right now.

Bitcoin, Ethereum Liquidations Surge as Solana, XRP and Dogecoin Plummet

Crypto prices are falling, as Bitcoin and Ethereum lead $686 million worth of liquidations and Solana and Dogecoin show double-digit losses.

SEC Ends Robinhood Investigation 'With No Action'

The trading platform said in a statement that the regulator's investigation "should never have been opened."

OKX Pleads Guilty, Pays $500 Million for Illegally Serving US Customers

Crypto exchange OKX has agreed to settle a DOJ investigation by paying over half a billion dollars after U.S. customers used its platform.

Bitcoin ETFs Have Shed $929 Million So Far in February

Despite the S&P 500 and gold hitting record highs of late, Bitcoin ETFs have seen steady outflows over the past two weeks.

Tokenization is Already Helping the World's Vulnerable. Here's How

From aid payments to protection against hyperinflation, tokenization can benefit millions, says the Stellar Development Foundation.

(Sponsored post by the Stellar Development Foundation)

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💬 Quote of the Day

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“Let me be crystal clear—this investigation never should have been opened.”

Robinhood exec Dan Gallagher celebrates the SEC’s investigation ending

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🤖 EMERGE: Microsoft Stock Dips on Report of Data Center Lease Cancellations

Microsoft, in an oversupply position, means the company has more data center capacity than it currently needs, according to TD Cowen.

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Fermion Protocol wants to fractionalize luxury goods. It’s starting with a million-dollar digital suit from Dolce & Gabbana.

📚 Watch and Learn

📹️ WATCH: Crypto Falls After Hack, SOL Underperforms, Sonic & Berachain Heat Up

Crypto falls after macro-sell off and huge hack. North Korea’s Lazarus behind $1.4bn Bybit hack. Hack caused by musking attack of Safe website. Bybit’s ETH reserve’s restored after loans & buyback. Bybit offers 10% reward for returned funds. Large amounts of hacked funds already blocked. Safe moves to increase security following hack. Hacker now has more ETH than ETH Foundation, more.

🎓️ LEARN: What Is Chainlink? A Beginner’s Guide to the Decentralized Oracle Network

Chainlink connects blockchains to real-world data, enabling smart contracts to function securely and accurately.