The week was a rollercoaster ride in the world of cryptocurrency. From a trader's devastating $5 million loss in meme coins to the nearing conclusion of the Ripple-SEC lawsuit

The introduction of the Bitcoin Act of 2025 in the House of Representatives and Binance CEO's optimism about pro-crypto policies also made headlines.

The week saw a trader's devastating $5 million loss in meme coins and the nearing conclusion of the Ripple-SEC lawsuit.

A trader, known only as 0xforeverblind on X, used $5,000 to turn a profit of $5 million during the crypto bull run, only to lose it all in meme coins.

After making triple-digit gains during the crypto bull market, a trader has lost nearly all of his savings.

Clocking a 300% gain during the crypto bull run with a $5,000 initial investment to turn it into $20 million, a trader has lost nearly all of his savings.

The trader, known only as 0xforeverblind on X, initially used his savings to invest in various altcoins, which saw triple-digit gains. However, he decided to shift his investments into meme coins like Popcat, Gigachad, Mumu The Bull, and Retardio.

Despite having a 90-95% collapse in his investments, the trader, who is now down to $100,000 from his $5 million, seemed optimistic and in good spirits.

"So it begins, I’m down to 100k now. A trader’s journey. From 5k to 20m, then to 100k. It’s been fun. No regrets. Fresh start. Same mistakes, I hope," the trader said in a post on X.

The trader’s post has since gone viral, with many in the crypto community expressing their thoughts and support.

One trader said that he had never seen anyone lose so quickly in the crypto markets.

"I’ve never seen someone lose so quickly and in such a short span of time. May the best trader win and may the worst trader lose quickly."

Another trader said that the trader should have stuck to his initial investments in altcoins.

"You had a nice tidy profit in ATOM, LINK, and Kava. Why did you have to go chasing meme coins?"

A third trader said that he had learned a valuable lesson from the trader’s story.

"The best time to take some profits is when you feel like you’re losing it all. Don’t get greedy and you’ll be alright."

The trader’s story is a cautionary tale about the risks of investing in meme coins. While they can offer the potential for rapid gains, they are also highly volatile and carry a high risk of loss.

As one trader said, "May the best trader win and may the worst trader lose quickly."

See Also: House Committee Favors Stablecoin Regulation To ‘Strengthen' Dollar: Majority Whip Says CBDCs Against ‘American Values'

In other news, the long-standing legal battle between the SEC and Ripple Labs over the alleged $1.3 billion unregistered XRP sale may soon come to an endpoint.

The SEC claims that Ripple sold unregistered securities known as XRP to raise $1,3 billion from 2013 to 2018.

The SEC is arguing that XRP's utility and trading status align more with a commodity, like Ethereum, rather than a security.

The SEC had previously scored a victory when a judge ruled in favor of the agency's ability to collect documents from private figures in administrative cases.

Moreover, the SEC is also engaged in a lawsuit against Binance, the world's largest cryptocurrency exchange, and its CEO, Changpeng Zhao.

The SEC alleges that Binance misled investors about its operations and flouted U.S. securities regulations.

According to the regulator, Binance facilitated the trading of cryptocurrency derivatives with U.S. customers despite lacking the necessary registration.

The lawsuit, filed in a federal court in Washington, D.C., marks a significant escalation of the SEC's efforts to oversee the burgeoning cryptocurrency industry.

The case is expected to be closely watched by cryptocurrency enthusiasts and legal professionals alike.

U.S. Congressman Nick Begich has introduced the Bitcoin Act of 2025 in the House.

The bill proposes acquiring 1 million BTC over five years, beginning in 2024, and placing it in a trust fund for 20 years. The bill specifies that the U.S. Treasury will be responsible for buying Bitcoin on a quarterly basis, adjusting the amount to maintain a balanced federal budget.

Furthermore, the bill emphasizes that no taxpayer funds will be used to purchase Bitcoin, and the Federal Reserve will not be involved in the process.

The bill also acknowledges Senator Cynthia Lummis for her advocacy of Bitcoin and financial innovation.

Congressman Begich is a member of the House Financial Services Committee, which oversees the SEC.

The bill has been assigned to the Committee on Financial Services for consideration.

Binance CEO Richard Teng has spoken about the optimism he feels toward the pro-cryptocurrency policies being introduced by U.S. President Donald Trump