Ben Zhou, Bybit's CEO, said that the hack had affected around 401,000 Ethereum and sparked a surge in withdrawal requests.

Bybit, a major cryptocurrency exchange, has been hacked to the tune of $1.5 billion in digital assets, in what’s estimated to be the largest crypto heist in history.

A major cryptocurrency exchange says it was the victim of a sophisticated hack that stole about $1.5 billion worth of digital currency, marking one of the biggest online thefts of all time

The end of a court fight with the largest U.S. crypto company would be a big win for an industry that financially backed President Trump.

"This is not about how the litigation was going, this is about the Trump administration not wanting to go after crypto," a source told BI.

If approved, the deal would cap a nearly two-year-long legal battle between America’s largest crypto exchange and the SEC, which had been a marquee case in the federal government’s now-crumbling crackdown on crypto.