Here’s what happened in crypto today
Today, in crypto, an Argentine lawyer called for a global arrest warrant against the LIBRA token creator, the US securities regulator is preparing to drop its case against Ripple, and analysts warn Bitcoin could drop on the EU’s retaliatory tariffs.
Argentine lawyer wants Interpol red notice on LIBRA creator: Report
Argentine lawyer Gregorio Dalbon has asked to have Interpol file a global arrest warrant for Hayden Davis, the co-creator of the LIBRA token that caused a political scandal in the country.
Local media reported that Dalbon lodged the request to prosecutor Eduardo Taiano, who is probing President Javier Milei’s involvement with the token.
Dalbon claimed there was a risk if Davis remained free as he could have access to vast amounts of money, allowing him to flee the US or go into hiding and alleged “his central role” in Libra “increases the likelihood that he will take steps to evade justice.”
Hayden Davis (left) poses with Argentine President Javier Milei. Source: Javier Milei
He asked for Davis’ arrest and for “an Interpol red notice [to] be issued in order to locate and arrest him, with a view to his extradition.”
Davis helped make the LIBRA token that Milei shared on social media last month, which rocketed it to a peak value of over $4 billion. The token’s creators held most of the supply and sold, crashing its price and leading to accusations that it was a pump-and-dump scheme.
SEC’s enforcement case against Ripple may be wrapping up
The US Securities and Exchange Commission may be preparing to end its enforcement action against Ripple Labs after more than four years.
According to a March 12 X post from Fox Business reporter Eleanor Terrett, the SEC’s case against Ripple was “in the process of wrapping up” after the parties filed an appeal and cross-appeal, respectively, over a $125-million court judgment in August 2024. The civil case against the blockchain firm filed in December 2020 alleged Ripple and certain executives used XRP (XRP) as an unregistered security to raise funds.
Ripple chief legal officer Stuart Alderoty told Cointelegraph on March 11 that the SEC civil case was “far more advanced” than many of the others the regulator had dropped following the inauguration of US President Donald Trump and the departure of Chair Gary Gensler. Since January, the SEC has announced it will not pursue enforcement cases against Coinbase, Consensys, Kraken and others.
“We do have a judgment, we are on appeal — that presents some additional complexity,” said Alderoty in regard to the case potentially being dropped. “But we remain optimistic that we’ll get to a resolution with the SEC, and if we don’t, we’ll proceed with the appeal.”
According to the Ripple CLO, there were several possible outcomes to ending the SEC case if both parties were in agreement that it should wind down.
EU retaliatory tariffs threaten Bitcoin correction to $75,000
The EU’s latest retaliatory tariffs have deepened macroeconomic uncertainty, prompting crypto analysts to forecast increased volatility for Bitcoin (BTC) prices, which may drop below the critical $75,000 support level.
The EU will impose counter-tariffs on 26 billion euros ($28 billion) worth of US goods starting in April, the European Commission announced on March 12, responding to US President Donald Trump’s recent move to impose 25% tariffs on steel and aluminum imports.
This move is the latest retaliatory tariff announcement in response to US import tariffs, which may trigger renewed trade war concerns and market volatility in the near term.
Announcement of retaliatory tariffs on the US. Source: European Commission
“Counter tariffs aren’t a positive signal as they suggest a potential bounce back from the other side again,” according to Marcin Kazmierczak, co-founder and chief operating officer of blockchain oracle solution firm, RedStone.
This may see Bitcoin revisit $75,000, he told Cointelegraph, adding that “given stablecoins and RWAs [real world assets] remain at all-time-highs, it has the potential to rebound.”
“I don’t believe that news will have a strong impact for now, but we’ll observe the response on the US end,” he added.
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Other analysts still eye a temporary Bitcoin retracement below $72,000 as part of a “macro correction” during the current bull market cycle before Bitcoin’s next leg up.
Still, import tariffs are not the only factor influencing Bitcoin’s price, Ryan Lee, chief analyst at Bitget Research, told Cointelegraph, adding:
“The prices are correlated with wider economic conditions but are also influenced by factors beyond trade policies. Worldwide institutional adoption, regulatory updates and high utility make it more resilient than traditional financial instruments.”