Crypto investors celebrated a significant victory this week as the U.S. Securities and Exchange Commission (SEC) dismissed a highly contentious lawsuit against Ripple Labs, which has been embroiled in legal battles for over four years. This dismissal marks a pivotal moment for the cryptocurrency sector, coinciding with the introduction of Solana-based futures exchange-traded funds (ETFs) in the U.S., a development that could indicate forthcoming approvals for spot Solana (SOL) ETFs, which industry experts regard as a natural progression for regulatory frameworks.
### SEC’s XRP Dismissal a “Win for the Industry”: Ripple CEO
Ripple CEO Brad Garlinghouse declared the SEC’s decision to drop its long-standing lawsuit against Ripple Labs as a monumental win for the cryptocurrency sector during the Blockworks’ 2025 Digital Asset Summit in New York. Announced on March 19, the SEC’s dismissal concluded a four-year legal struggle concerning an alleged $1.3 billion unregistered securities offering that took place in 2020. “This feels like a victory for the industry and the start of a new chapter,” Garlinghouse remarked at the Summit, which was attended by Cointelegraph.
### Solana Futures ETF Expected to Enhance Institutional Adoption
The launch of the first Solana futures ETF is anticipated to significantly boost institutional interest in the SOL token, according to industry analysts. Volatility Shares introduced two Solana futures ETFs, the Volatility Shares Solana ETF (SOLZ) and the Volatility Shares 2X Solana ETF (SOLT), on March 20. Ryan Lee, chief analyst at Bitget Research, noted that the introduction of these ETFs could enhance Solana’s market position by increasing demand and liquidity for the SOL token, potentially bridging the gap with Ethereum’s market capitalization. Lee emphasized that these ETFs would serve as a regulated investment option, attracting substantial capital and reinforcing Solana’s competitive edge against Ethereum, despite the latter’s well-established ecosystem.
### Pump.fun Launches New DEX, Challenging Raydium
Pump.fun has unveiled its decentralized exchange (DEX) named PumpSwap, which could potentially replace Raydium as the leading platform for trading Solana-based memecoins. Starting March 20, memecoins that establish liquidity on the Pump.fun platform will transition directly to PumpSwap, as stated in a post on X. Previously, tokens bonded to Pump.fun were transferred to Raydium, which gained popularity primarily due to memecoin trading. PumpSwap is designed to create a seamless trading experience, allowing instantaneous and cost-free migrations, which Pump.fun claims will eliminate the complexities and delays previously encountered.
### Bybit: 89% of Stolen $1.4B Crypto Remains Traceable Post-Hack
Following a historic cyber heist that resulted in Bybit losing over $1.4 billion in liquid-staked Ether (stETH) and other digital assets, the majority of the stolen funds remain traceable. This hack, which occurred on February 21, has been attributed to North Korea’s Lazarus Group, as investigations continue to recover the lost assets. According to Bybit’s co-founder and CEO Ben Zhou, more than 88% of the stolen funds are still traceable, with detailed reports indicating that a significant portion of the funds has been converted into Bitcoin across numerous wallets. The CEO’s update highlights ongoing efforts to track and freeze the misappropriated assets.
### Creator of Libra and Melania’s Memecoin Faces 99% Value Collapse
Hayden Davis, the co-creator of the Libra token, has launched a new memecoin called Wolf (WOLF), which has exhibited troubling on-chain patterns indicative of possible insider trading before experiencing a drastic 99% decline in value. Launched on March 8, WOLF capitalized on speculation surrounding a token from Jordan Belfort, known as the “Wolf of Wall Street,” reaching a market cap of $42 million. However, an analysis revealed that 82% of WOLF’s supply was controlled by a single entity, raising concerns of manipulation. Within just two days, the memecoin saw its value plummet from its peak to only $570,000 by March 16, according to Dexscreener data.
### DeFi Market Overview
Data from Cointelegraph Markets Pro and TradingView indicates that most of the top 100 cryptocurrencies by market capitalization wrapped up the week on a positive note. The standout performer was the Four (FORM) token from the BNB Chain, which surged over 110%, followed by PancakeSwap’s CAKE token, which climbed more than 48% over the week. As the decentralized finance (DeFi) landscape continues to evolve, stay tuned for more insights and developments in this rapidly advancing sector next Friday.
