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President Donald Trump hosted the first White House Digital Asset Summit, reaffirming his commitment to Bitcoin. He emphasized the Strategic Bitcoin Reserve and vowed the U.S. would "never sell its Bitcoin." Treasury Secretary Scott Bessent announced plans to rescind restrictive crypto tax guidance and promote USD-backed stablecoins to maintain dollar dominance. Commerce Secretary Howard Lutnick and Bessent were tasked with exploring new Bitcoin acquisition strategies without taxpayer costs. The roundtable included major crypto leaders like Michael Saylor, Brian Armstrong, and Sergey Nazarov, who praised the administration’s pro-crypto stance

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Sam Bankman-Fried, the former CEO of FTX, has been placed in solitary confinement after giving an unauthorized interview with Tucker Carlson. The interview, which was done without the approval of the US Bureau of Prisons, was shared on March 7, leading to controversy. The Bureau confirmed that the interview had not been authorized, resulting in Bankman-Fried’s isolation. This move has brought renewed attention to his case and the ongoing discussions about his possible release. During the interview , Bankman-Fried opened up about his experience in prison and discussed his views on crypto regulation in the United States. He claimed that he did not see himself as a criminal, even though his conviction was for defrauding investors and customers in the collapse of FTX. Related: Bankman-Fried Seeks Trump Pardon, LayerZero Settles with FTX Estate While Carlson did not ask directly about a possible pardon from U.S. President Donald Trump, Bankman-Fried’s comments have led to increased speculation about his chances for clemency. Since the interview aired, data from Polymarket shows that the probability of a pardon has nearly doubled, with a current 4% chance of a pardon within the first 100 days of Trump’s presidency. Bankman-Fried’s family, including his parents, law professors Joe Bankman and Barbara Fried, are reportedly consulting with a lawyer linked to Trump’s 2016 and 2020 campaigns. Though they have not reached out to Trump directly, sources indicate that they are working on utilizing his transactional approach to clemency to secure a pardon for their son. The efforts to secure a pardon are similar to previous actions by Trump, like his full pardon of Ross Ulbricht, the creator of the Silk Road, in January 2021. Related: Sam Bankman-Fried Appeals Fraud Conviction, Seeks New Trial Ulbricht had served 12 years of his sentence for his role in running the infamous darknet marketplace. Separately, Bankman-Fried’s legal team is continuing its appeal process. In September 2024, they filed a 102-page brief challenging his conviction on seven felony counts, claiming that the scrutiny around his case affected the fairness of his trial. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

Ripple CEO Brad Garlinghouse described the past week as a turning point for the cryptocurrency industry. He pointed to high-level discussions at the White House Crypto Summit and the Commodity Futures Trading Commission (CFTC) CEO Roundtable. Garlinghouse highlighted the key regulatory priorities that emerged from the meeting, on social media platform X. They included Congressional action on crypto legislation, a Bitcoin reserve, and support for stablecoins backed by the U.S. Treasuries. Garlinghouse also expressed optimism about the administration’s stance, contrasting it sharply with the previous Biden administration, which he characterized had been hostile towards crypto. That made him acknowledge the significance of the latest discussions, all the more, noting strong support for a fair regulatory framework that can transition to the industry’s growth. Related: Garlinghouse Heads to White House Crypto Summit: XRP’s Role in Trump’s US Reserve in Focus Garlinghouse also urged the industry to move past internal divisions and focus on achieving regulatory clarity. He criticized the ongoing “maxi-induced noise” and infighting, stating that the crypto sector should work together to ensure a level playing field. “We will continue to champion the need for a fair regulatory environment,” he said. Further, Garlinghouse thanked President Donald Trump, White House AI and Crypto Czar David Sacks, and Representative Bo Hines for facilitating crypto discussions at the White House and CFTC Commissioner Caroline Pham for hosting the regulatory roundtable. Legal expert Bill Morgan echoed Garlinghouse’s statement as a “very positive and grateful take” on what he called a “monumental week” for crypto. He noted the stark contrast to the regulatory climate just six months ago. Despite these positive developments, the SEC’s lawsuit against Ripple remains active. Unlike many other cases that have been dropped, Ripple’s legal battle continues at the appellate court. Related: SEC Drops Multiple Lawsuits and Investigations Against Crypto Firms—Here’s the List It’s worth noting that the SEC has paused or dismissed multiple lawsuits and investigations involving major cryptocurrency firms in recent weeks. Companies like Binance, Coinbase, Kraken, and Uniswap have benefited from the SEC’s recent action. However, Ripple remains in a holding pattern, awaiting its fate. Experts suggest the delay in Ripple’s case stems from the fact that the lawsuit has received a binding decision. Consequently, a quick settlement is not as straightforward as in other cases without a final judgment. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

China has announced additional tariffs on Canadian imports, escalating a trade dispute. This move comes as a response to earlier Canadian tariffs on Chinese goods. The tariffs, set to take effect on March 20, 2025, will target Canadian products, including a 100% tariff on rapeseed oil, oil cakes, and peas, and a 25% tariff on aquatic products and pork. The growing trade dispute between China and Canada unfolded after Canada imposed tariffs on Chinese goods that were aimed at China’s trade practices. In retaliation, China has shifted its focus to Canadian exports. This new wave of tariffs follows a pattern of rising global trade tensions. Similarly, the United States has also expanded its trade war to include the European Union, Mexico, Canada, and South Korea. US actions have been prompted by concerns over national security related to imports and attempts to address what it sees as unfair trade practices. Related: Trump and Trudeau in Talks: Will Tariffs Be Lifted Today? Global Impact on Trade and Economy: The impact of these tariffs is already evident in global markets. As countries like China and the US continue to enforce tariffs and non-tariff barriers, global trade flows have slowed, and stock markets have experienced volatility. Companies, particularly in the manufacturing sector, have faced rising costs, while producers and suppliers have been forced to look for alternative markets to minimize the impacts of tariffs. Interestingly, despite this trade chaos, certain sectors have experienced unexpected shifts. Notably, the crypto market saw a slight uptick in interest, potentially tied to discussions surrounding the US government’s proposal for a national crypto reserve. Under President Trump’s leadership, the United States has announced plans for reciprocal tariffs aimed at nearly all US trade members. Expected to be released on April 2, 2025, these tariffs will address what the White House considers unfair trade policies from countries like the European Union, Canada, and South Korea. Related: China vs. Trump Tariffs: Global Markets Shaken, Crypto Beckons However, Peter Navarro, a senior trade adviser, confirmed that inverse tariffs are certain , with the aim of reshaping the relationship between the US and its global trade partners. While the full scope of these tariffs is still unclear, their likely impact could be far-reaching, especially for US companies that depend on international trade. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.