Altcoins in Focus: Cardano Climbs as XRP Surges—Is a New Cycle Beginning?

🧠 Key Takeaways:

• DOJ Disbands Crypto Enforcement Unit – The U.S. Department of Justice has dissolved its National Cryptocurrency Enforcement Team, shifting focus to crimes tied to terrorism and cyber threats.​

• New York AG Calls for Federal Crypto Regulation – Attorney General Letitia James urges Congress to establish comprehensive federal oversight for cryptocurrencies, including mandatory registration and token listing standards.​

• Ripple Acquires Hidden Road for $1.25B – Ripple announces the acquisition of credit network Hidden Road, aiming to integrate crypto operations with traditional finance services.​

• Mantra Token Plummets Over 90% – The OM token experiences a dramatic price collapse, raising concerns about potential insider trading and market manipulation.​

• Argentina's $LIBRA Scandal Unfolds – President Javier Milei faces criticism after endorsing the $LIBRA token, which subsequently crashed, leading to allegations of a pump-and-dump scheme.​

• Trump Proposes National Crypto Reserve – President Donald Trump suggests creating a U.S. reserve backed by Bitcoin, Ethereum, and XRP, aiming to position the U.S. as a leader in the crypto space.​

• EU Warns of Crypto-Finance Risks – The European Securities and Markets Authority cautions that the growing integration of crypto into traditional finance could destabilize markets.​

• Bitcoin Dips to $84K Amid Market Turbulence – Bitcoin's price drops to $84,000, reflecting recent market volatility and liquidation events.​

🏛️ DOJ Winds Down Crypto Enforcement Efforts

In a significant policy shift, the U.S. Department of Justice has disbanded its National Cryptocurrency Enforcement Team. The focus now shifts towards investigating criminal activities such as terrorism financing and cyber threats involving digital assets. This move aligns with President Trump's executive order advocating for open access to blockchain networks and a broader support for easing regulation of the digital assets industry. ​Reuters

🗽 New York Ramps Up Pressure for Federal Oversight

New York Attorney General Letitia James is urging Congress to establish comprehensive federal regulations for cryptocurrencies. Her proposal includes mandatory registration of crypto companies with a federal agency and the establishment of minimum listing standards for crypto tokens. This initiative aims to protect investors from fraud and scams in the rapidly evolving digital asset market. ​Reuters

💼 Ripple’s $1.25B Push Into Traditional Finance

Ripple has announced the acquisition of prime broker Hidden Road for $1.25 billion. This strategic move aims to integrate Ripple's crypto operations with traditional finance services, providing immediate scale and satisfying the demand for Hidden Road’s prime brokerage, clearing, and financing platform. ​HiddenRoad

💥 Mantra Token Meltdown: A $5.4B Crash

The OM token experienced a dramatic price collapse, plummeting from $5.21 to $0.50 over the weekend before a brief rebound. This flash crash has raised concerns about potential insider trading and market manipulation, especially after reports that strategic investors cashed out large amounts of OM tokens before the collapse. ​ForbesCointelegraph

🇦🇷 Argentina’s $LIBRA Controversy

President Javier Milei is under scrutiny after endorsing the $LIBRA token, which subsequently crashed. The Argentine Chamber of Deputies has voted to create a commission to investigate the scandal, amid allegations of a pump-and-dump scheme. ​Buenos Aires Herald

🇺🇸 Trump Calls for National Crypto Reserve

President Donald Trump has signed an executive order to establish a Strategic Bitcoin Reserve and a U.S. Digital Asset Stockpile. This initiative aims to position the United States as a leader among nations in government digital asset strategy. ​The White House+1Reuters+1

🇪🇺 EU Flags Crypto-Driven Financial Risks

The European Securities and Markets Authority (ESMA) has issued a warning about the potential risks of crypto's integration into traditional finance systems. While noting that funds focused on crypto make up less than 1% of the EU fund universe, ESMA emphasized the need for continued close monitoring to prevent potential destabilization of financial markets. ​Reuters

📊 Market Overview

• Bitcoin (BTC) – $84,126.00 (-0.63%)

• Ethereum (ETH) – $1,601.07

• XRP – $0.62 (+1.15%)

• Solana (SOL) – $172.88 (-2.03%)

• Cardano (ADA) – $0.53 (+0.48%)

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