Here’s all crypto cases SEC has dropped in February; is Ripple one of them?

One of the many hopes for the new Trump administration, the end to the supposed war against the cryptocurrency industry, started bearing fruit in February 2025.

Specifically, the U.S. Securities and Exchange Commission (SEC) began dropping multiple long-standing and high-profile cases against various digital assets companies. 

The first of these wins came for the world’s largest publicly traded cryptocurrency exchange, Coinbase (NASDAQ: COIN). Though the decision remains subject to Commissioner approval, it would appear that the company is confident the matter has been resolved.

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Much like most other similar entities, Coinbase was targeted on the grounds that cryptocurrencies offered on its platform were, in fact, unregistered securities.

SEC drops investigations against multiple crypto firms

Multiple other companies were also allowed to breathe freely as the SEC notified them that, after lengthy probes, it would not be moving forward with regulatory actions.

Since February 20, Uniswap Labs — the company behind the decentralized platform of the same name — Gemini, and the cryptocurrency-friendly online brokerage Robinhood (NASDAQ: HOOD) all announced that the regulator had ended the investigations against them and would not be moving forward with enforcement.

Additionally, OpenSea, one of the best-known non-fungible token (NFT) trading platforms, announced that the SEC is in the process of closing a probe targeting it.

Still, amidst the deluge of dropped cases and closed investigations, one name has been notable in its absence: Ripple Labs.

Ripple Labs has grown to exceptional prominence due to its long-standing legal battle with the Commission over the XRP token. The case has been identified as pivotal for the entire industry, as it could set either a dangerous or a beneficial precedent for the handling of digital assets.

During the fight, Ripple has experienced many ups and downs, with perhaps its biggest triumph coming when XRP became one of the few cryptocurrencies to have full legal clarity that it is not, in fact, a security.

Though many have, in the wake of the ruling, all but proclaimed victory, the SEC continues contesting the matter with its latest appeal — filed only days before Donald Trump’s inauguration and Gary Gensler’s exit from the agency — claiming that the contracts used to sell the token are, in fact unregistered securities.

Both the initial excitement and the subsequent disappointment with the lack of a swift and favorable resolution are clearly visible in the price performance of XRP itself. Upon Trump’s re-election, the token entered a rally that saw it soar 540% from its long-standing level near $0.50 to highs above $3.30.

XRP performance in the last six months.
XRP six-month price chart. Source: FInbold

On the other hand, XRP is 28.24% in the red since January 20, the day Gensler stepped down, indicating that enthusiasm has somewhat dissipated. Still, traders retain at least some confidence if the token’s price is to be used as a gauge. At its press time price of $2.23, it remains 330% above where it was on November 1, 2024.

Featured image via Shutterstock

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