The good news of the cryptocurrency investors arrived after 8 am on Friday: Coinbase was the largest encryption market in the United States, I reached a deal With the American organizers to reject the lawsuit that has suspended the industry for years.
But within hours, the encryption market descended into a new crisis. At 10:51 am, bybit, another pioneer encryption, exchange, He said It has been hacked – where the industry analysts estimated the loss of about $ 1.5 billion, which is the largest theft in the date of encryption.
Bitcoin, ether and other major encrypted currencies decreased. The price of Coinbase has even decreased by 8 percent by the end of the day.
This divided displacement on the screen was a clarification that narrates the condition of encryption in 2025. Even with President Trump industry, the wild West of the financial world is still an exhibition of fraud, thefts and the sudden collapse of the market.
A series of political changes in Washington is preparing to encourage millions of investors to participate in encryption for the first time, despite the ongoing police struggles of the police and preventing criminal activity. The penetration was a reminder that, despite all its increasing influence in politics, the encryption is still a free international thing for everyone-a chaotic market in which even the most experienced investors suffer.
“These men whose entire work is encrypted, and they are smart in these issues, they have just lost $ 1.5 billion,” said Cori Fryer, who was working on the policy of encryption in the Securities and Exchange Committee during the Biden administration. “How do we expect ordinary Americans who just want their discount card to use products safely?”
The news about Coinbase and Bybit came at the end of a few cylinder car in the world of encryption. The proliferation of new mimosins – digital currencies based on the Internet or celebrity joke, with no practical function – has widespread fraud complaints.
Last week, Mimcoin fell by the President of Argentina, Javier Millie, suddenly in value, which led to a political crisis there and Cost Investors are more than $ 250 million.
Recently, CEOs in encryption have expressed the spread of these highly dangerous cryptocurrencies, anxiety They can back down from some of the progress made by the industry with legislators. Shortly before his inauguration, Mr. Trump Mimikoin put his own for sale – a value has increased before collapse. More than 800,000 encryption accounts lost money.
“Memecoins is not just a casino – it’s worse,” wrote Haseeb Qureshi, a Crypto Venture investor, on social media this week. “It is a casino where in each machine there is a different owner, each of which tries to tear you as much as possible before moving to the next device.”
Under the Biden Administration, Federal Organizers supervised a large -scale campaign to encrypt, which led to lawsuits against many of the largest companies in this field.
At the top of that list, Coinbase, a $ 60 billion company, was announced in 2021. The organizers have argued that Coinbase should register with SEC and follow strict rules to protect investors from financial harm.
But the government’s position towards encryption turned when Mr. Trump took office. The president has his own encryption work, World Liberty Financial, which gives him a personal share in the success of the industry. He nominated an ally of the encryption industry, a lawyer for securities Paul Atkins, to lead the Supreme Education Council, which soon reduced its efforts.
In a regulatory file on Friday morning, Coinbase announced that the Supreme Education Council had agreed to drop a lawsuit without imposing any financial punishment. (The agreement requires the approval of the agency commissioners, a process that is expected to be formal.)
In the celebration of social media publications, executive officials in the industry announced the end of the “siege against Crypto” by the federal government.
The euphoria did not last long. Bybit, which is based in Dubai and tens of billions of dollars in daily transactions, revealed that thieves have violated his system and stealing huge amounts of ether.
Crypto has a long history of destructive breakthroughs, but the theft of bybit dwarf The previous record, when the thieves stole $ 611 million in cryptocurrencies from a platform called polynetwork in 2021.
Even outside the encryption world, there is a few precedents for a very big theft. “It may be the biggest theater in all times,” said Tom Robinson, a co -founder of the encryption.
On social media, the CEO of BYBIT, Ben Chu, assured customers that the company is still a solvent. “Even if this hack loss is not recovered, all customer assets are supported from 1 to 1.” “We can cover the loss.”
On the live broadcast on Friday, Mr. Zhu, who was wandering in Red Paul, He said The “affected amount” was 401,000 the rally, or about $ 1.1 billion. Forensic experts estimated the total encryption at $ 1.5 billion, based on the analysis of public transactions records.
Bybit does not provide customer services in the United States, according to Website. The company’s representatives did not immediately respond to the comment.
Arkham Intelligence, Arkham Intelligence, He said The North Korean infiltrators were behind Beetb. North Korean groups attacks for them I was afflicted Industry for years.
Bitcoin price fell from about $ 100,000 early Friday to slightly more than $ 95,000 in that evening, a 5 percent decrease. Other cryptocurrencies fell further.
The day of celebration of Coinbase ends with a decrease in the stock market: by the time when the market was closed on Friday, its shares were trading at its lowest price since November.
