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

This week in crypto was a rollercoaster ride. From a trader’s devastating $5 million loss in meme coins to the nearing conclusion of the Ripple-SEC lawsuit, the crypto space was buzzing with activity.

Trader Loses $5 Million On Meme Coins

A trader, known only as 0xforeverblind, turned nothing into $5 million during the crypto bull run, only to lose it all in meme coins.

Despite his initial success, the trader’s investments in meme coins like Popcat, Gigachad, Mumu The Bull, and Retardio collapsed by 90-95%, leading to his massive loss.

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

Ripple-SEC Lawsuit May Soon Come To An End

The U.S. Securities and Exchange Commission's lawsuit against Ripple Labs over the alleged $1.3 billion unregistered XRP sale may soon be concluded.

A judge ruled that the Securities and Exchange Commission's no-action letter policy on cryptocurrency is "unclear and at times contradictory."

The key point of contention is whether XRP's utility and trading status align more closely with a commodity, like Ethereum, or a security.

Bitcoin Act Of 2025 Introduced By Congressman

U.S. Congressman Nick Begich Jr. (R-AK) has introduced the Bitcoin Act of 2025 in the House. The bill proposes acquiring 1 million BTC over five years, with a 20-year holding period, without taxpayer funding.

The bill also acknowledges Senator Cynthia Lummis's efforts in advancing Bitcoin and financial innovation.

See Also: A Deep Dive Into The New Narrative Surrounding The Bitcoin Narrative

Binance CEO Optimistic About Pro-Crypto Policies

Richard Teng, the CEO of Binance for Southeast Asia, expressed optimism about the pro-cryptocurrency policies introduced by President Donald Trump.

Teng believes this shift marks a turning point for the industry, which faced significant challenges during President Joe Biden’s tenure.

Strategy Files For $21B To Fund Bitcoin Acquisition

Strategy Inc. announced that it has filed to offer up to $21 billion in preferred stock to raise funds for Bitcoin purchases.

The sales agreement involves issuing 8.00% Series A perpetual strike preferred stock with a par value of $0.001 per share.