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Elon Musk, via his platform X, has filed a brief with the U.S. Supreme Court challenging the IRS’s practices regarding access to Coinbase user data. This initiative is part of a broader debate on privacy protection in the crypto space. X Corp, Elon Musk’s company that manages the X platform, filed an amicus curiae brief with the U.S. Supreme Court on Friday, contesting the IRS’s methods. The company specifically denounces the use of so-called “no-suspicion” subpoenas allowing the tax authorities to access, without a judicial warrant, the financial data of users on platforms like Coinbase. The case highlights how the tax authorities obtained, through simple administrative subpoena, three years of transaction statements concerning over 14,000 Coinbase customers, including James Harper, the main plaintiff. Alongside seven advocacy groups and researchers, X Corp denounces these “no-suspicion subpoenas” as a violation of the Fourth Amendment, which protects Americans against unreasonable searches. Following this request, the Supreme Court asked the federal government on Monday to formulate an official response, highlighting the importance of this case. The dispute dates back to 2020 when James Harper sued the IRS to contest the seizure of his personal information related to cryptos. In 2023, a federal court ruled in favor of the IRS, determining that the tax agency was acting within the scope of its legal prerogatives. The current appeal before the Supreme Court thus marks a new stage in this legal battle, with potentially significant implications for the protection of digital financial data. This initiative perfectly aligns with Elon Musk’s vision regarding digital governance. The billionaire, who recently sold his platform X to his own company xAI for 33 billion dollars, has always positioned himself as an advocate for privacy and freedom of speech. By taking a stand for the protection of cryptocurrency users’ data, Musk strengthens his credibility among the tech and crypto communities, particularly sensitive to privacy issues. The Supreme Court’s verdict could redefine the limits of state power in relation to digital privacy. This case resonates with the recent case of Tornado Cash , a crypto mixing protocol ultimately removed from the OFAC blacklist after a court ruled that the agency had overstepped its authority. This case resonates with the recent case of Tornado Cash , a crypto mixing protocol ultimately removed from the OFAC blacklist after a court ruled that the agency had overstepped its authority, illustrating the growing tensions between state regulation and digital freedoms.

As Donald Trump prepares to announce new tariff rights, investors are questioning the impact of these protectionist measures on cryptocurrencies. Contrary to initial fears, several financial analysts believe that these tariffs could ultimately strengthen Bitcoin’s position as an alternative safe haven. On April 2, 2025, U.S. President Donald Trump is expected to announce the imposition of “reciprocal” tariffs targeting 15 countries, including China, Canada, and Mexico. These protectionist measures initially caused a drop in Bitcoin prices , falling from over $100,000 at the beginning of the year to around $80,000 in March. This decline is explained by the growing correlation between cryptocurrencies and traditional assets, all affected by global economic uncertainty. “It is the market’s appetite for risk that continues to deteriorate,” explains Marc Ostwald, Chief Economist at ADM Investor Services International. For now, investors are favoring gold, which has risen by 18% since the beginning of the year, as a traditional safe haven. However, as Zach Pandl, former macroeconomist at Goldman Sachs and current head of research at Grayscale, points out, “once this tariff announcement is made, crypto markets may potentially refocus on fundamentals, which are very positive.” In the long term, tariffs could paradoxically enhance Bitcoin’s appeal by weakening the global dominance of the U.S. dollar. This fragmentation of the international financial system could thus create a favorable space for alternative currencies. Omid Malekan, a professor at Columbia Business School, believes that Bitcoin could soon become “the new gold” in this context of economic uncertainty. The rising prices linked to tariffs and potential retaliation measures from the U.S. trade partners are already pushing investors to seek decentralized assets. Ryan Lee, Chief Analyst at Bitget Research, agrees: The tariffs proposed by Trump could potentially multiply Bitcoin’s appeal by shaking trust in fiat currencies like the U.S. dollar, especially if inflationary pressures intensify. With a universal tariff of 20% threatening to provoke stagflation — rising costs without economic growth — combined with likely trade retaliation from global players, investors may increasingly turn to Bitcoin as a safe haven, exploiting its decentralized nature to protect themselves from the consequences of a global trade war. Furthermore, tariffs could increase inflationary pressures, strengthening the argument for Bitcoin as protection against the devaluation of traditional currencies. According to experts at Wells Fargo and Bank of America cited by Ryan Lee, these protectionist measures could “increase manufacturing prices and erode dollar dominance,” thus directing more capital towards crypto markets. Despite the current turbulence, Pandl remains optimistic: I wouldn’t have left my job on Wall Street if I didn’t believe that Bitcoin would be the long-term winner. In summary, Trump’s tariffs represent a paradox for Bitcoin: negative in the short term, but potentially beneficial in the long run. If global economic uncertainty persists, Bitcoin could confirm its role as a credible alternative to the traditional financial system, especially in a context where trust in the dollar is gradually eroding.

Sumitomo Mitsui Financial Group, the parent company of Japan’s second-largest bank, Sumitomo Mitsui Banking Corporation, plans to launch its own stablecoin. The stablecoin project, according to a report published on April 1, 2025 by Nikkei, will be a collaboration between the banking giant and crypto projects Avalanche ( AVAX ) and Fireblocks. Specifically, the report highlights that SMBC is teaming up with Ava Labs, the developer team behind the Avalanche blockchain. SMBC’s reported stablecoin venture follows a prior move in 2024 that involved the Sumitomo Mitsui Financial Group and two other Japanese financial services and banking behemoths, the Mitsubishi UFJ Financial Group and the Mizuho Financial Group. The partners were said to be eyeing a pilot for a cross-border stablecoin transfer venture, set to involve Progmat and Datachain. In the latest report, Nikkei says SMBC will join forces with Japan -based information technology firm TIS. The partnership aims to conduct trials for the new stablecoin project in the fourth quarter of 2025 or early 2026. If successful, live issuance is expected to follow later in the year. SMBC, like other banks turning to stablecoins for improved functionality and instant money transfers, is not new to the blockchain space. In February 2019, the bank’s tech team completed a blockchain proof of concept for payment commitments on Marco Polo trade finance, a platform developed by R3. SMBC was part of a consortium that included Commerzbank, BNP Paribas, Anglo-Gulf Trade Bank, Standard Chartered Bank, and Danske Bank. On the back of the R3 Marco Polo trade initiative, SMBC inched further into the blockchain ecosystem with another deal. It sought to digitize its trade finance offering with a blockchain touch, this time joining hands with Singapore-based Contour in July 2020. These efforts have now evolved into stablecoin development, which is drawing increasing interest across the financial services industry. This includes major banks like JPMorgan and Citi, which have made significant strides using permissioned blockchains.

HBAR Foundation has officially joined the ERC3643 Association, a strategic move that demonstrates their commitment to expanding the application of Real World Assets (RWA) tokenization. More than just a formality, this collaboration paves the way for broader collaboration with various institutions in utilizing ERC-3643, a standard that has been widely used in issuing and managing blockchain-based assets in a regulatory-compliant manner. In other words, this is like laying a strong foundation before building a magnificent house called the future digital economy. ERC-3643 itself is not a new player. This standard has been used in various cases, including the tokenization of green bonds by major banks such as Citi and ABN AMRO. With its permission-based characteristics, ERC-3643 allows the issuance of digital assets that are more controllable and in accordance with the law. So if you imagine digital assets like building access cards, ERC-3643 ensures that only people with permission can enter. Joining the HBAR Foundation is not just a matter of branding. Through this collaboration, they will encourage more institutions to look at and use ERC-3643, especially on the Hedera network. On the other hand, the position of the HBAR Foundation, which is directly involved in the Hedera Governing Council, gives them the space to align this standard with enterprise needs without having to sacrifice the technological efficiency that is already Hedera’s hallmark. If usually the adoption of new technology takes a long time because large companies tend to be careful, the presence of a proven standard such as ERC-3643 can be a bridge. Moreover, with the HBAR Foundation helping to encourage the use of this standardization, the onboarding process can be faster and with minimal drama. “We’re excited for The HBAR Foundation to join the ERC3643 Association, enabling us in our mission to accelerate institutional adoption of the Hedera network and onchain finance as a whole,” said Sabrina Tachdjian, Head of Fintech & Payments at The HBAR Foundation. In February, Hedera also had two other big news. First, their collaboration with Dell Technologies. Dell will use Hedera to record real-time data from its edge infrastructure. This step is to ensure that the recorded data can be trusted and can be audited at any time. Interestingly, this project also involves testing AI services integrated with the Hedera Consensus Service. So besides the blockchain, there is a touch of AI that makes this project even more relevant. Furthermore, Hitachi, a giant Japanese company, has also officially joined the Hedera Governing Council as the 32nd member. With Hitachi’s entry, Hedera strengthens its foothold in the Asian market. And more importantly, a name as big as Hitachi adds value in terms of credibility. When a company of this class chooses to enter a network, it is a kind of signal to the market that Hedera is not a playful project. On the other hand, CNF had reported a bullish prediction from a crypto analyst for the HBAR token. Based on technical analysis and the breakout of important resistance levels, the analyst sees a potential rally of more than 140% for this token. Meanwhile, as of press time, HBAR is swapped hands at about $0.1601, down 7.49% over the last 24 hours and 16.28% over the last 7 days.

The crypto market is facing a minor correction, with Bitcoin (BTC) momentarily retreating from its recent high of $88,000 back to the $86,000 territory. The total market capitalization has decreased by about 4% over the past 24 hours, currently sitting at around $2.9 trillion. The recent resistance levels faced in the market suggest that there could be a consolidation period in the near future. Recent positive news in the sector temporarily spurred a recovery. Among the major market optimists was BlackRock’s recent purchase of BTC valued at $107.9 million, reflecting increasing institutional demand. Furthermore, the U.S. Securities and Exchange Commission (SEC) withdrew its case against Ripple and issued a series of crypto-related talks. This has further boosted XRP investors’ confidence. As the first quarter of 2025 comes to a close, market trends are indicating that some digital assets may see increasing activity. The following three cryptocurrencies are worth watching this weekend. Since it is the flagship crypto, BTC has a major influence on market direction. The recent participation of large financial institutions, including BlackRock, indicates a likely increase in institutional investment. These actions could influence further price shifts in the next few days. If BTC sees new buying demand, it could take the market into another positive wave. At press time, Bitcoin price dropped 2.54% to $84,358.58 on Friday, March 28. According to Coinglass data , the BTC futures open interest plunged 2.07% to $55.77 billion in the last 24 hours. With the derivatives market awakening, a rebound seems difficult in the short-term, as mentioned in our previous story. However, owing to strong fundamentals and increasing institutional investments, BTC price is expected to bounce back in the long run. XRP has demonstrated incredible resilience in the last few months. The crypto spiked above $3 earlier this year, reaching its highest level in almost seven years. The legal win over the SEC has boosted investor confidence, and XRP continues to remain in the limelight, as highlighted in our previous story. Market participants could keep on piling up the asset, which could result in higher inflows of capital in the near term. Nonetheless, XRP price is currently struggling at $2.19, down by 5.80%. Solana has received a major price correction since its peak in January. As of writing, SOL price dipped 5.65% to $129.88 today. The drop has placed the asset at a price level that may welcome new investors. With its prevalence in the crypto space and steadfast network activity, Solana is still a major favorite among traders. If market conditions normalize, SOL may recover in the coming sessions.