Crypto Highlights This Week: Ah, dear reader, gather ’round as we delve into the curious happenings of the cryptocurrency realm, where fortunes are made and lost faster than a magician’s rabbit can disappear! This week, the grand stage was graced by the notorious Bybit, which, much to the chagrin of its investors, was hacked for a staggering $1.4 billion. Yes, you heard it right! Meanwhile, Bitcoin and its merry band of altcoins decided to take a leisurely stroll, remaining as stagnant as a pond in mid-summer. And just when you thought it couldn’t get any more absurd, the meme coin sector erupted in a frenzy over the arrival of the Argentinian LIBRA token. 🎩🐇
Here’s a brief collection of some of the top crypto market updates reported by CoinGape Media over the past week, because who doesn’t love a good train wreck?
Weekly Crypto Highlights: ByBit Exchange Hacked By N. Korean Group
In a plot twist worthy of a Dostoevsky novel, the illustrious Bybit exchange fell victim to the infamous ‘Lazarus Group’—a North Korean ensemble that seems to have taken a page from the art of thievery. They made off with a jaw-dropping $1.4 billion worth of ETH, leaving investors clutching their pearls and scrambling for the exits. Panic selling ensued, and in a single day, a staggering $566 million evaporated into thin air. BTC, once the darling of the market, closed the week at a mere $96K, while ETH languished around $2,800. XRP and SOL, too, joined the ranks of the fallen, trading in the red like a bad romance novel. 📉💔
In a desperate bid to recover the stolen loot, Bybit has rolled out a $140 million bounty for cybersecurity experts. Because, you know, nothing says “we’re in trouble” quite like a treasure hunt! 🕵️♂️💰
LIBRA Token Panic: What Happened?
Meanwhile, in the land of the tango, Argentinian President Javier Milei threw his weight behind the Solana-based LIBRA meme token, sending its value soaring like a hot air balloon. But, as is often the case in this whimsical world, the joy was short-lived. Insiders, like crafty foxes, cashed out in droves, causing the LIBRA price to plummet over 90%. Talk about a rug-pull! This debacle has raised eyebrows and questions about the integrity of the crypto market. 🦊💨
In a twist that could rival any soap opera, President Milei has ordered an investigation into the launch and the KIP Protocol, hoping to salvage the situation and restore some semblance of order. Because, after all, what’s a little chaos without a government probe? 🔍🤔
ETF Filings This Week
As if the drama wasn’t enough, this week also saw a flurry of ETF advancements. Canary Capital’s Litecoin ETF made its debut on the Depository Trust & Clearing Corporation (DTCC), raising hopes for approval. Meanwhile, Grayscale’s XRP ETF has entered the U.S. SEC’s review mode, which is about as exciting as watching paint dry. 🎨⏳
And let’s not forget Franklin Templeton, which filed an S-1 to launch a spot Solana ETF with the U.S. SEC. Because if there’s one thing we need more of in this wild west of finance, it’s more ETFs! 🏦💼
So there you have it, dear reader! A week in the life of crypto, where fortunes rise and fall like the tides, and every day is a new episode in this grand, chaotic theater. Stay tuned for more absurdities! 🎭✨
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2025-02-23 15:25