Urgent Crypto News: Galaxy Digital, Bybit Hack, SEC Ripple Settlement
Stay informed on the latest major developments shaping the digital asset world with today’s essential crypto news. From significant corporate moves to law enforcement actions and regulatory debates, the crypto landscape is constantly evolving. Here’s a quick rundown of the top stories making headlines today.
Galaxy Digital Cleared for US Domicile, Nasdaq Listing
Galaxy Digital, a prominent crypto investment firm, has received approval from the U.S. Securities and Exchange Commission (SEC) to redomicile in the United States. This crucial step paves the way for the company’s anticipated listing on the Nasdaq stock exchange. The planned listing is expected by mid-May, contingent on approval from the Toronto Stock Exchange and a shareholder vote on May 9th. Shareholders must greenlight the move to Delaware, a state known for its business-friendly legal framework. This development signifies growing institutional integration as crypto firms increasingly seek listings on major traditional exchanges.
Germany Seizes $38 Million Linked to Bybit Hack
German law enforcement has successfully seized 34 million euros (approximately $38 million) in cryptocurrency from a platform called eXch. This platform is allegedly tied to laundering funds stolen during the massive Bybit hack, which occurred in February 2025 and involved an estimated $1.4 billion. The seizure, announced by German authorities, included various crypto assets like Bitcoin, Ether, Litecoin, and Dash. This action marks the third-largest crypto confiscation in Germany’s history. Authorities also took down eXch’s server infrastructure, which held over eight terabytes of data. eXch operated as a swapping service since 2014, facilitating billions in transfers without implementing necessary Anti-Money Laundering (AML) checks, with some funds suspected of criminal origin, including portions from the Bybit exploit.
SEC Commissioner Criticizes Ripple Settlement
A notable point of discussion in crypto regulation today involves the U.S. Securities and Exchange Commission (SEC) and its settlement letter regarding the Ripple legal case. SEC Commissioner Caroline Crenshaw has publicly criticized the agency’s proposed settlement. The joint letter filed by the SEC and Ripple in a New York court requested the dissolution of an August 2024 injunction against Ripple and the return of $75 million of the $125 million in civil penalties held in escrow. Commissioner Crenshaw expressed concern that this settlement, combined with perceived changes in the SEC’s crypto enforcement approach, could weaken the regulator’s ability to oversee crypto firms and undermine the court’s prior rulings. She stated that the deal does a disservice to the public and erodes the credibility of the SEC’s legal team.
What the SEC Ripple Debate Means for Crypto Regulation
The ongoing discussion surrounding the SEC Ripple settlement highlights the complex and often contentious nature of applying existing securities laws to novel crypto assets. Commissioner Crenshaw’s statement points to internal disagreements within the regulatory body and raises questions about the consistency and future direction of crypto enforcement in the U.S. This lack of clarity can create uncertainty for businesses operating in the space and impact investor confidence. The outcome of this settlement and the broader regulatory stance will continue to be a key factor influencing the development and adoption of digital assets.
In summary, today’s crypto news cycle includes significant progress for Galaxy Digital’s U.S. market entry, a major law enforcement win against crypto laundering linked to a past hack, and ongoing debate within the SEC regarding high-profile enforcement actions like the one involving Ripple. These events collectively underscore the increasing intersection of the crypto market with traditional finance, global law enforcement, and evolving regulatory frameworks.
