Here’s a quick recap of the crypto landscape for Friday (February 21) as of 9:00 AM UTC.
Bitcoin and Ethereum price update
Bitcoin (BTC) is currently trading at US$98,110, reflecting a 0.46 percent increase over the past 24 hours. The day’s trading range has seen a high of US$99,505 and a low of US$97,355.
Ethereum (ETH) is priced at US$2,733.83, marking a 0.51 percent rise over the same period. The cryptocurrency reached an intraday high of US$2,839.50 and a low of US$2,708.75.
Altcoin price update
- Solana (SOL) is currently valued at US$174.42, up 1.17 percent over the past 24 hours. SOL has experienced a high of US$180.29 and a low of US$171.80 during today’s trading session.
- XRP is trading at US$2.62, reflecting a 2.60 percent decrease over the past 24 hours. The cryptocurrency recorded an intraday high of US$2.72 and a low of US$2.60.
- Sui (SUI) is priced at US$3.43, showing a 2.70 percent increase over the past 24 hours. It achieved a daily high of US$3.56 and a low of US$3.34.
- Cardano (ADA) is trading at US$0.796534, reflecting a 0.20 percent increase over the past 24 hours. Its highest price today was US$0.816708, with a low of US$0.787567.
Crypto news to know
SEC agrees to dismiss Coinbase case
Coinbase announced that the US Securities and Exchange Commission (SEC) has agreed to dismiss its case against the cryptocurrency exchange, pending final commission approval.
The SEC initially sued Coinbase in June 2023, alleging it operated as an unregistered securities platform and brokerage service. The regulator accused Coinbase of generating billions in revenue while failing to provide necessary investor protections.
Coinbase shared the update on social media platform X, stating, “But this isn’t the end. It’s the beginning. And if there were ever a time to build—that time is now. Thank you to everyone who stood with us, and stood with crypto.”
The crypto industry has experienced several policy victories under the current administration, including the repeal of a controversial accounting rule by the SEC and an executive order exploring crypto-friendly regulatory changes. Additionally, the SEC recently asked a federal court to pause its ongoing litigation against Binance, as agency leadership reevaluates its enforcement strategies.
Shares of Coinbase rose 3 percent at market open on Friday following the announcement, though the SEC has yet to confirm the decision. This move aligns with the Trump administration’s broader shift toward a more lenient stance on cryptocurrency regulation.
SEC forms cyber and emerging technologies unit
The SEC announced the creation of the Cyber and Emerging Technologies Unit (CETU) to address fraud and cybercrime in the cryptocurrency and blockchain sectors.
This new unit replaces the SEC’s Crypto Assets and Cyber Unit and will focus on protecting investors from fraudulent schemes tied to emerging technologies.
The CETU will consist of approximately 30 fraud specialists and attorneys from various SEC offices, with Laura D’Allaird leading the division. D’Allaird, previously head of the Crypto Assets and Cyber Unit, played a key role in past enforcement actions, including the SEC’s case against Kik Interactive for securities law violations.
The unit’s expanded scope will include fraud investigations related to artificial intelligence, blockchain, and social media-driven investment schemes.
This development follows ongoing concerns about crypto fraud, highlighted by the LIBRA meme coin scandal involving Argentine President Javier Milei.
The fraudulent token, promoted within the meme coin community, resulted in over $250 million in investor losses before its abrupt collapse. Decentralized exchange Jupiter confirmed that insider trading was widely suspected in the token’s pump-and-dump scheme.
In 2024, the SEC initiated 33 enforcement actions related to crypto fraud, securing $8.2 billion in penalties. A significant portion came from the SEC’s case against Terraform Labs and its founder, Do Kwon. Under the Biden administration, the SEC took an aggressive stance on digital asset regulation, which is now shifting under new leadership.
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.