Today’s developments in the crypto world include an Argentine attorney calling for an international arrest warrant for the LIBRA token creator, the US securities regulator potentially concluding its case against Ripple, and warnings from analysts that Bitcoin may face a decline due to the EU’s retaliatory tariffs.
Argentine attorney seeks international notice for LIBRA co-creator: Report
Gregorio Dalbon, an Argentine attorney, has urged Interpol to issue a global arrest warrant for Hayden Davis, the co-creator of the LIBRA token that sparked controversy in Argentina.
According to local reports, Dalbon submitted his request to prosecutor Eduardo Taiano, who is investigating President Javier Milei’s connection to the token.
Dalbon expressed concerns about the risks associated with Davis remaining at large, suggesting that his access to considerable financial resources might allow him to flee the US or go into hiding, claiming that “his significant role” in LIBRA increases the risk of him avoiding justice.
Hayden Davis (left) with Argentine President Javier Milei. Source: Javier Milei
He requested the authorities to arrest Davis and issue an “Interpol red notice to locate and apprehend him for possible extradition.”
Davis was instrumental in developing the LIBRA token, which Milei promoted on social media last month, causing its value to spike to over $4 billion. Most of the token’s supply was held by its creators, who sold off their holdings, leading to a price crash and accusations of a pump-and-dump scheme.
SEC may be closing in on Ripple case conclusion
The US Securities and Exchange Commission seems to be nearing a resolution in its enforcement action against Ripple Labs after more than four years.
A report from Fox Business indicated that the SEC’s case against Ripple is “in the process of wrapping up,” following an appeal and a cross-appeal from the involved parties over a $125-million court ruling in August 2024. The civil action against Ripple was initiated in December 2020, alleging that the company and certain executives raised funds through unregistered securities by using XRP.
Stuart Alderoty, Ripple’s chief legal officer, informed Cointelegraph that the SEC’s civil case was “far more advanced” than many others the agency has since dropped after the inauguration of President Donald Trump and the departure of Chair Gary Gensler. Since January, the SEC has decided not to pursue cases against several firms, including Coinbase, Consensys, and Kraken.
“We do have a judgment, and we’re currently appealing — which adds some complexity,” Alderoty stated regarding the potential conclusion of the case. “However, we are hopeful for a resolution with the SEC, and if that doesn’t happen, we will move forward with our appeal.”
According to Alderoty, if both parties agree to conclude the SEC case, several outcomes are possible.
EU’s retaliatory tariffs may push Bitcoin towards $75,000
The new retaliatory tariffs from the EU have intensified macroeconomic uncertainties, prompting crypto analysts to predict higher volatility for Bitcoin (BTC), which may dip below the crucial $75,000 support level.
The European Commission confirmed on March 12 that the EU will enact counter-tariffs on $28 billion worth of US goods starting in April, in response to President Donald Trump’s recent imposition of 25% tariffs on steel and aluminum imports.
This latest announcement of counter-tariffs occurs in the context of escalating trade tensions, which could lead to renewed concerns about a trade war and subsequent market volatility.
Announcement regarding retaliatory tariffs on the US. Source: European Commission
Marcin Kazmierczak, co-founder and COO of a blockchain oracle solution company, noted, “Counter tariffs aren’t a positive signal as they may indicate further escalation from the other side.”
He speculated that Bitcoin could revisit the $75,000 mark, adding that “with stablecoins and real-world assets remaining at all-time highs, there’s potential for a recovery.”
“I don’t think this news will have a strong immediate impact, but we’ll monitor the response from the US side,” he stated.
Related: Backlash over Bitcoin reserves indicates unrealistic expectations in the industry
Other analysts suggest a potential temporary retracement for Bitcoin to below $72,000 as part of a “macro correction” during the ongoing bull market cycle before it embarks on its next upward move.
However, Ryan Lee, chief analyst at Bitget Research, pointed out that import tariffs are just one of many factors affecting Bitcoin’s price. He stated:
“Prices are not only correlated with broader economic conditions but are also swayed by elements beyond trade policies. Global institutional adoption, regulatory developments, and significant utility are making it more robust than traditional financial instruments.”