In recent developments within the cryptocurrency sector, the United States Securities and Exchange Commission (SEC) has concluded its investigation into Robinhood Crypto without recommending any enforcement action. This decision follows nearly a year after the brokerage received a Wells notice regarding potential violations of federal securities laws. Dan Gallagher, Robinhood Markets’ compliance officer, emphasized that the investigation was unwarranted and reaffirmed the company’s commitment to complying with securities laws.
Meanwhile, Bybit has reportedly recovered the $1.4 billion in Ether that was taken in a notorious hack linked to the Lazarus Group, a cybercriminal organization tied to North Korea. Bybit’s CEO Ben Zhou announced that a forthcoming proof-of-reserve audit will confirm the complete restoration of client assets to their original one-to-one ratio, achieved through loans, deposits, and purchases.
Additionally, Michael Saylor, co-founder of Strategy, has hinted at the possibility of acquiring more Bitcoin. A chart traditionally preceding the company’s Bitcoin purchases was shared, signaling a return to acquisition after a brief hiatus. Strategy, holding approximately 478,740 BTC valued at $45.8 billion, continues to bolster its Bitcoin reserves, partly through issuing convertible bonds to finance additional purchases.
