SEC’s XRP reversal marks crypto industry victory ahead of SOL futures ETF launch: Finance Redefined

Crypto traders rejoiced this week after the US Securities and Trade Fee dismissed one of many crypto business’s most controversial lawsuits — one which resulted in an over four-year authorized battle with Ripple Labs.

In one other vital regulatory improvement, Solana-based futures exchange-traded funds (ETFs) have debuted within the US, a transfer that will sign the approval of spot Solana (SOL) ETFs because the “subsequent logical step” for lawmakers.

SEC’s XRP reversal a “victory for the business”: Ripple CEO

The SEC’s dismissal of its years-long lawsuit towards Ripple Labs, the developer of the XRP Ledger blockchain community, is a “victory for the business,” Ripple CEO Brad Garlinghouse mentioned at Blockworks’ 2025 Digital Asset Summit in New York.

On March 19, Garlinghouse revealed that the SEC would dismiss its authorized motion towards Ripple, ending 4 years of litigation towards the blockchain developer for an alleged $1.3-billion unregistered securities providing in 2020.

“It looks like a victory for the business and the start of a brand new chapter,” Garlinghouse mentioned on March 19 on the Summit, which Cointelegraph attended. 

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Solana futures ETF to develop institutional adoption, regardless of restricted inflows

The crypto business is ready to debut the primary SOL futures ETF, a big improvement that will pave the way in which for the primary spot SOL ETF because the “subsequent logical step” for crypto-based buying and selling merchandise, in accordance with business watchers.

Volatility Shares is launching two SOL futures ETFs, the Volatility Shares Solana ETF (SOLZ) and the Volatility Shares 2X Solana ETF (SOLT), on March 20.

The debut of the primary SOL futures ETF could carry vital new institutional adoption for the SOL token, in accordance with Ryan Lee, chief analyst at Bitget Analysis.

The analyst informed Cointelegraph: 

“The launch of the primary Solana ETFs within the US may considerably increase Solana’s market place by growing demand and liquidity for SOL, doubtlessly narrowing the hole with Ethereum’s market cap.”

The Solana ETF will develop institutional adoption by “providing a regulated funding car, attracting billions in capital and reinforcing Solana’s competitiveness towards Ethereum,” mentioned Lee, including that “Ethereum’s entrenched ecosystem stays a formidable barrier.”

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Pump.enjoyable launches personal DEX, drops Raydium

Pump.enjoyable has launched its personal decentralized trade (DEX) referred to as PumpSwap, doubtlessly displacing Raydium as the first buying and selling venue for Solana-based memecoins. 

Beginning on March 20, memecoins that efficiently bootstrap liquidity, or “bond,” on Pump.enjoyable will migrate on to PumpSwap, Pump.enjoyable mentioned in an X publish. 

Beforehand, bonded Pump.enjoyable tokens migrated to Raydium, which emerged as Solana’s hottest DEX, largely because of memecoin buying and selling exercise. 

In accordance with Pump.enjoyable, PumpSwap “capabilities equally to Raydium V4 and Uniswap V2” and is designed “to create essentially the most frictionless atmosphere for buying and selling cash.”

“Migrations have been a serious level of friction – they sluggish a coin’s momentum and introduce useless complexity for brand spanking new customers,” Pump.enjoyable mentioned.

“Now, migrations occur immediately and at no cost.”

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Bybit: 89% of stolen $1.4B crypto nonetheless traceable post-hack

The lion’s share of the hacked Bybit funds continues to be traceable after the historic cybertheft, with blockchain investigators persevering with their efforts to freeze and recuperate the funds.

The crypto business was rocked by the most important hack in historical past on Feb. 21 when Bybit misplaced over $1.4 billion in liquid-staked Ether (stETH), Mantle Staked ETH (mETH) and different digital property.

Blockchain safety companies, together with Arkham Intelligence, have recognized North Korea’s Lazarus Group because the possible perpetrator behind the Bybit exploit because the attackers proceed swapping the funds in an effort to make them untraceable.

Regardless of the Lazarus Group’s efforts, over 88% of the stolen $1.4 billion stays traceable, in accordance with Ben Zhou, co-founder and CEO of crypto trade Bybit.

The CEO wrote in a March 20 X publish:

“Complete hacked funds of USD 1.4bn round 500k ETH. 88.87% stay traceable, 7.59% have gone darkish, 3.54% have been frozen.”

“86.29% (440,091 ETH, ~$1.23B) have been transformed into 12,836 BTC throughout 9,117 wallets (Common 1.41 BTC every),” mentioned the CEO, including that the funds have been primarily funneled by means of Bitcoin (BTC) mixers, together with Wasbi, CryptoMixer, Railgun and Twister Money.

The CEO’s replace comes practically a month after the trade was hacked. It took the Lazarus Group 10 days to maneuver 100% of the stolen funds by means of the decentralized crosschain protocol THORChain, Cointelegraph reported on March 4.

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Libra, Melania creator’s “Wolf of Wall Avenue” memecoin crashes 99%

The creator of the Libra token has launched one other memecoin with a few of the identical regarding onchain patterns that pointed to vital insider buying and selling exercise forward of the coin’s 99% collapse.

Hayden Davis, co-creator of the Official Melania Meme (MELANIA) and Libra tokens, has launched a brand new Solana-based memecoin with an over 80% insider provide.

Davis launched the Wolf (WOLF) memecoin on March 8, banking on rumors of Jordan Belfort, often known as the Wolf of Wall Avenue, launching his personal token.

The token reached a peak $42 million market cap. Nevertheless, 82% of WOLF’s provide was bundled below the identical entity, in accordance with a March 15 X publish by Bubblemaps, which wrote:

“The bubble map revealed one thing unusual — $WOLF had the identical sample as $HOOD, a token launched by Hayden Davis. Was he behind this one too?”

The blockchain analytics platform revealed transfers throughout 17 completely different addresses, stemming again to the tackle “OxcEAe,” owned by Davis.

“He funded these wallets months earlier than $LIBRA and $WOLF launched, shifting cash by means of 17 addresses and a pair of chains,” Bubblemaps added.

The Wolf memecoin misplaced over 99% of its worth inside two days, from the height $42.9 million market capitalization on March 8 to simply $570,000 by March 16, Dexscreener information exhibits.

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DeFi market overview

In accordance with Cointelegraph Markets Professional and TradingView information, many of the 100 largest cryptocurrencies by market capitalization ended the week within the inexperienced.

Of the highest 100, the BNB Chain-native 4 (FORM) token rose over 110% because the week’s greatest gainer, adopted by PancakeSwap’s CAKE (CAKE) token, up over 48% on the weekly chart.

Thanks for studying our abstract of this week’s most impactful DeFi developments. Be part of us subsequent Friday for extra tales, insights and training concerning this dynamically advancing house.