Bitcoin, Ethereum, Binance, Solana, Ripple: The Week's Most Significant News

Amid revolutionary announcements, technological evolutions, and regulatory turbulence, the crypto ecosystem continues to prove that it is both a territory of limitless innovations and a battleground for regulatory and economic challenges. Here is a summary of the most significant news from the past week regarding Bitcoin, Ethereum, Binance, Solana, and Ripple.

CoinTribune highlights: Bitcoin, Ethereum, Binance, Solana, and Ripple had a busy week with key announcements and developments. Here's a summary of the most significant news.

Michael Saylor's Strategy to Buy More Bitcoin with $2 Billion Fundraiser

Michael Saylor's Strategy (formerly MicroStrategy) has announced a new fundraising initiative, aiming to raise $2 billion through zero-coupon convertible bonds. This financial strategy enables Strategy to acquire more Bitcoin (BTC) without immediate dilution. With this new acquisition, Strategy could surpass 500,000 BTC in its reserves. This move showcases Strategy's strong belief in Bitcoin's potential, despite the asset's volatility and the uncertain regulatory landscape.

FTX Begins Repaying Victims with $800 Million, But at Old Crypto Prices

Bankrupt cryptocurrency exchange FTX has initiated the repayment process for its victims, starting with an initial tranche of $800 million paid to 162,000 accounts via Kraken. However, the exchange is repaying creditors at prices from November 2022, which are significantly lower than the current market values of cryptocurrencies. This discrepancy has caused frustration among some creditors, who feel they are not being fully compensated for their losses.

Binance US Resumes Dollar Transactions After 18 Months of Suspension

Binance US has announced the resumption of deposits and withdrawals in USD via bank transfers (ACH) and dollar trading pairs. This decision marks the end of 18 months of restrictions following the SEC lawsuits in 2023. At the time, Binance US had to limit itself to crypto-to-crypto transactions, which substantially impacted its business. This return of fiat services highlights an evolution in the relationship between Binance and American regulators. It also hints at a stabilization of the crypto market in the United States under the leadership of Richard Teng, CZ’s successor.

VanEck Proposes a Scenario Where Bitcoin Saves the American Economy

As the national debt threatens to explode to $116 trillion by 2049, VanEck has proposed a bold scenario: the United States would accumulate 1 million BTC to cover up to $21 trillion in debt. This idea is based on an annual growth of 25% in Bitcoin’s price, reaching $21 million per unit by 2050. This plan draws inspiration from the increasing Bitcoin reserves held by several American states. However, the challenges are immense, considering BTC's volatility and the potential for political resistance. It remains a risky bet but one that could potentially revolutionize the global monetary system.

Bybit Hacked: 70% of ETH Reserves Stolen by Lazarus Group

On Friday, February 21, 2025, cryptocurrency exchange Bybit was hit by the largest hack in crypto history, with $1.4 billion worth of Ethereum (ETH) stolen. The attack, which was later attributed to the Lazarus group, reportedly exploited a vulnerability in transaction signing. Investigators have also uncovered a connection between this hack and the recent Phemex attack, which involved the theft of $29 million. The large-scale nature of these hacks suggests a coordinated effort by a powerful threat actor.

Brazil Launches the First XRP ETF and Prepares a Stablecoin

Brazil has become the first country in the world to approve a spot XRP ETF, through the Hashdex Nasdaq XRP Index fund. This announcement comes as the United States is still awaiting the SEC’s approval for a Ripple ETF. The news of the XRP ETF caused a 7.8% rise in XRP. Meanwhile, Braza Group bank is preparing to launch a stablecoin on the XRP Ledger blockchain, which will be backed by the Brazilian real (BBRL). This move will further strengthen institutional adoption of cryptos in Latin America.