SEC’s XRP Reversal Signals Crypto Industry Win Ahead of SOL Futures ETF Debut
Crypto investors celebrated a significant regulatory victory this week as the U.S. Securities and Exchange Commission (SEC) dismissed its long-standing lawsuit against Ripple Labs, marking a major milestone for the crypto industry. This development coincides with the launch of the first Solana-based futures ETFs in the United States, potentially paving the way for broader institutional adoption of Solana (SOL).
SEC Drops XRP Lawsuit, Ripple CEO Declares Industry Victory
After more than four years of litigation, the SEC has officially dismissed its lawsuit against Ripple Labs, which accused the blockchain developer of conducting an unregistered securities offering worth $1.3 billion. Ripple CEO Brad Garlinghouse described the dismissal as a “victory for the industry,” signaling a positive shift in regulatory attitudes toward cryptocurrencies.
Garlinghouse stated at Blockworks’ 2025 Digital Asset Summit in New York:
“It feels like a victory for the industry and the beginning of a new chapter.”
Solana Futures ETFs Launch in the U.S.
In another significant regulatory development, Volatility Shares introduced two Solana futures ETFs—the Volatility Shares Solana ETF (SOLZ) and the Volatility Shares 2X Solana ETF (SOLT)—on March 20. Analysts suggest this move could lead to increased institutional interest and potentially pave the way for a spot SOL ETF.
Ryan Lee, chief analyst at Bitget Research, noted:
“The launch of the first Solana ETFs in the U.S. could significantly boost Solana’s market position by increasing demand and liquidity for SOL, potentially narrowing the gap with Ethereum’s market cap.”
Pump.fun Launches PumpSwap DEX, Moves Away from Raydium
Pump.fun, a popular platform for Solana-based memecoins, has launched its own decentralized exchange (DEX), PumpSwap. Previously, tokens bonded on Pump.fun migrated to Raydium, Solana’s leading DEX. PumpSwap aims to streamline trading by eliminating migration friction, allowing instant and free token migrations.
Bybit Hack Update: 89% of Stolen $1.4 Billion Still Traceable
Following the historic $1.4 billion hack of crypto exchange Bybit on February 21, CEO Ben Zhou reported that approximately 89% of the stolen funds remain traceable. Blockchain security firms have attributed the attack to North Korea’s Lazarus Group, which has attempted to obscure the funds through various mixers and cross-chain protocols.
- 88.87% of stolen funds remain traceable.
- 7.59% have become untraceable.
- 3.54% have been frozen.
“Wolf of Wall Street” Memecoin Crashes 99%
A new Solana-based memecoin, Wolf (WOLF), created by Hayden Davis—known for previous controversial tokens Libra and Melania—collapsed by over 99% shortly after launch. Blockchain analytics revealed suspicious insider trading patterns, with 82% of the token supply controlled by a single entity linked to Davis.
DeFi Market Overview
This week, most of the top 100 cryptocurrencies by market capitalization ended positively. Notable gainers included:
- Four (FORM) token: up over 110%
- PancakeSwap’s CAKE token: up over 48%
Total value locked (TVL) in decentralized finance (DeFi) continues to reflect growing investor confidence and market activity.
Stay tuned for more updates and insights into the rapidly evolving crypto and DeFi landscape.
