Top Crypto Stories this week: From Crypto Correction to SEC Course Correction

The global financial landscape is currently dominated by concerns surrounding potential trade actions initiated by the US under President Trump's second term. The speed of policy announcements from the US administration has been rapid, focusing on potential tariffs and trade measures impacting various global partners.

While not all announced policies have yet been implemented as legislation, the consistent stream of potential trade actions, including tariffs and VAT targeting, has created significant market uncertainty.

Bitcoin experienced a surge to over $109,000 on inauguration day, but declined to below $80,000 this weekas investors react to the increasing probability of a global trade war and its potential impact on the already fragile global economy. President Trump's near-daily announcements of new tariff threats, most recently highlighting potential tariffs against Canada and Mexico effective March 4th, are contributing to growing unease within the US.

In separate but significant developments for the cryptocurrency sector, the Securities and Exchange Commission (SEC) has signaled a potential shift in its regulatory approach. The SEC recently agreed to drop its enforcement action against Consensys, a crypto software firm, specifically concerning its MetaMask wallet product. This dismissal follows a series of paused or withdrawn SEC actions against other prominent crypto entities, including Gemini, Uniswap Labs, Robinhood Crypto, OpenSea, and figures associated with the Tron Foundation.

This pattern of withdrawals has fueled speculation that the SEC is moving away from an aggressive enforcement-first strategy towards the crypto industry.

Meanwhile, as Bitcoin hovers close to its 200-day moving average and Ethereum threatens to sink below $2,000, Alternative.me's Crypto Fear and Greed Index shows a level of 16, or "Extreme Fear," a significant retreat in risk appetite in just 7 days, from 55, or "Greed" when we sent out this newsletter last Friday. The Fear & Greed Index uses 5-6 measurements to assess the current sentiment of the market and then rates that level of emotion on a scale of 1-100 – 1 is extreme fear and 100 is extreme greed.

"Trump's trategy appears to be testing economic partners’ limits, anticipating retaliatory measures to negotiate deals favoring the U.S. economy. While these developments have shaken markets, we believe the uncertainty itself is the biggest factor weighing on sentiment. A rebound is likely once discussions begin," BRN analyst Valentin Fournier said.

"We remain confident in long-term bullish catalysts. 2025 still holds tremendous upside potential for Bitcoin and altcoins," Fournier added.

Top Stories (In No Particular Order)

"I'm Innocent": Sam Bankman-Fried's First Interview From Prison Shows He's Still a Weasel

Sam Bankman-Fried ( SBF ) has surfaced to engage in his first public interview from behind bars. Currently serving a 25-year sentence, SBF's fall from grace stemmed from one of the most egregious fraud cases in not only the crypto industry but the entire financial world.

Bybit Suffers Historic $1.5 Billion Crypto Heist, Shaking Market Confidence

In a significant blow to the cryptocurrency sector, Dubai-based exchange Bybit has reported a security breach resulting in the theft of approximately $1.5 billion in Ethereum, taking place late Friday evening.

OKX Agrees to Pay Over $500M Penalty in DOJ Settlement

OKX has reached a settlement with US authorities over its failure to obtain a necessary license to operate as a money transmitter.

In a statement , the cryptocurrency exchange said its affiliate, Aux Cayes FinTech Co. Ltd, has agreed to pay over $500 million in penalties and forfeited fees while acknowledging the compliance gaps that led to enforcement action.

Bitcoin Dips Below $80,000 Amid Global Economic Jitters

Bitcoin plummeted below the critical $80,000 threshold, dragging Ethereum and the broader crypto market down with it, as investors braced for the potential fallout of a looming trade war and its impact on the already fragile global economy.

Aya Miyaguchi Named President of Ethereum Foundation Amid Leadership Shake-Up

Ethereum Foundation (EF) executive director Aya Miyaguchi announced she will be stepping down from her current role and transitioning to a newly created position as president of the organization.

In a blog post published on Tuesday, Miyaguchi emphasized that her new role would focus on expanding EF's institutional relationships and advancing the organization’s vision.

SEC Caves on Consensys: Drops MetaMask Lawsuit in Latest Crypto Retreat

The Securities and Exchange Commission ( SEC ) has reportedly agreed to drop its enforcement action against crypto software firm Consensys , according to a Bloomberg report on Thursday, marking yet another significant withdrawal in the agency's recent crypto crackdown.

This latest development, involving the popular MetaMask wallet, underscores the growing narrative of an SEC in retreat, facing mounting industry pressure and a shifting political landscape under the newly elected Trump administration.

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