The crypto industry started its Friday in a jubilant mood, with Coinbase Global Inc.’s announcement that US securities regulators were poised to dismiss a legal case against the nation’s largest digital-asset exchange.

Bybit’s $1.4 billion hack, the largest in crypto history, might have unexpected implications for Ethereum. As the exchange moves to recover, could this be a bullish catalyst for ETH?

Cryptocurrency exchange Bybit said last week hackers had stolen digital tokens worth around $1.5 billion, in what researchers called the biggest crypto heist of all time. Bybit CEO Ben Zhou said the crypto was taken from a "cold wallet" - a digital wallet usually stored offline and so supposedly more secure - that was used for ether tokens.