As of February 25, 2025, the cryptocurrency market is experiencing a significant downturn, with major cryptocurrencies like Bitcoin and Dogecoin facing substantial declines. This market correction has erased gains from the previous administration, leading to widespread concern among investors. 
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The market's decline is attributed to several factors, including recent hacks and the volatility of meme coins. Notably, Bybit, a prominent cryptocurrency exchange, was targeted in a hack that resulted in the loss of approximately $1.5 billion. The hacker has since laundered a significant portion of the stolen funds, raising concerns about the security of crypto platforms.