Trump’s order: US Department of Justice disbanding its cryptocurrency crime team

The U.S. Department of Justice is disbanding the National Cryptocurrency Enforcement Team (NCET) and has ordered prosecutors to narrow the scope of cryptocurrency investigations to focus on drug cartels and terrorist groups, according to a memo.

The NCET unit, created in February 2022 as part of the administration’s fight against fraud and illicit financing, has investigated and coordinated cases, including against Binance and its founder Changpena «CZ» Zhao. He’s pleaded guilty to violating laws aimed at preventing money laundering. But with the arrival of US President Donald Trump, whose family builds his own cryptocurrency empire The attitude towards digital assets has changed to a very loyal one.

Meanwhile, the crypto market (and not only) continued to fall after US imposes 104% tariffs on Chinese imports.

Volatility remains high, and the VIXDenotes the expected change in the price of an asset over the next 30 days. index has been above 40 for the third consecutive session. Even gold and US bonds are selling off.

US President Donald Trump is apparently employing the Martingale strategyA gambling betting strategy based on the idea that a player raises his bets until he wins. , doubling the bets for each step in response. The markets are now caught between two fires.

With unemployment remaining stable and inflation showing signs of recovery, the Fed may maintain current rates for the foreseeable future.

BTC is consolidating near the $75 thousand level, although the cryptocurrency may not be able to gain a foothold there if stocks face another drop. ETH continues to drift at $1400, which was last reached in 2023.

Source: Reuters