Bankless ROLLUP: Macro Bearish Report | Biggest Hack In History | SEC Drops Crypto Cases
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Feb 28, 2025 
This week, Alex Thorn, Head of Research at Galaxy Digital, dives into the turbulent state of crypto markets. He unpacks the reasons behind the recent downturn, highlighting economic instability and a historic $1.5 billion hack at Bybit. Surprisingly, there's good news too! The SEC is easing off lawsuits against key players like Coinbase and Uniswap, hinting at a regulatory shift. Alex emphasizes the urgent need for better security measures in crypto, as the industry grapples with both challenges and opportunities.
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Pockets of Strength
- Despite an overall market downturn, some crypto assets like Story Protocol, MakerDAO, and Celestia showed significant gains.
- This suggests continued vitality in specific sectors of the crypto market.
Bybit Hack and Response
- Bybit suffered a $1.5 billion hack, the largest in crypto history, attributed to North Korea's Lazarus Group.
- Despite the loss, Bybit's crisis response was praised for its transparency and reassurance to users.
Cold Storage Advice
- Store your assets in cold storage for better security.
- Do not use the same wallet for large holdings and everyday transactions.