United States Department Of Justice Announces Closure Of Crypto Unit

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📈 Preview On Today’s News:

1. - United States Department Of Justice Announces Closure Of Crypto Unit

2. - Celebrity Hype Turns Costly: Shaq’s $11M NFT Settlement, Melania Coin Faces Backlash

3. - SUI ETF on the Horizon: Canary Capital Aims to Shake Up Crypto Markets

Keep reading below for more!

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Today’s News:

1)

United States Department Of Justice Announces Closure Of Crypto Unit

In a sweeping policy shift, the U.S. Department of Justice has disbanded its National Cryptocurrency Enforcement Team (NCET) and will no longer pursue criminal charges against crypto platforms, including exchanges, mixing services, or cold wallet holders—unless directly involved in illicit activities. Instead, the DOJ will prioritize targeting individual bad actors behind scams, hacks, and embezzlement. This change signals a departure from the agency’s historically aggressive stance on crypto enforcement and reflects a maturing regulatory attitude, emphasizing discernment between criminal misuse and legitimate blockchain innovation. The move has divided the crypto community—privacy advocates celebrate the reduced oversight, while critics fear it may embolden malicious actors.

• DOJ disbands NCET and shifts focus from prosecuting crypto platforms to targeting individual criminals involved in fraud and cybercrime.

• Crypto community reacts with mixed feelings: privacy advocates welcome the change, while others worry about increased risk of unchecked criminal activity.

2)

Celebrity Hype Turns Costly: Shaq’s $11M NFT Settlement, Melania Coin Faces Backlash

A federal judge has approved an $11 million settlement in a class-action lawsuit against NBA legend Shaquille O’Neal, who was accused of promoting unregistered securities through the now-defunct Astrals NFT project. Investors alleged that O’Neal’s endorsement of the Solana-based collection led to financial losses, with the court also granting $2.9 million in legal fees. Meanwhile, scrutiny has intensified around the MELANIA meme coin, linked to Melania Trump, after blockchain analytics revealed $30 million worth of undisclosed token movements—raising serious concerns over transparency and insider control. These incidents spotlight the growing risks of celebrity-backed crypto ventures amid a shrinking NFT and meme coin market.

• Shaquille O’Neal has agreed to an $11 million court-approved settlement over his role in promoting the failed Astrals NFT project, which investors claim involved unregistered securities.

• The MELANIA meme coin team is under fire after secretly moving and partially selling $30M in tokens, with 92% of the supply still held by team-linked wallets—triggering fears of future dumps.

3)

SUI ETF on the Horizon: Canary Capital Aims to Shake Up Crypto Markets

Canary Capital has taken a major step toward launching the first-ever spot SUI exchange-traded fund (ETF) by filing with the SEC via the Cboe BZX Exchange. The ETF is designed to track the performance of SUI, a fast-growing layer-1 blockchain developed by ex-Facebook engineers. SUI’s network, known for its dual-layer consensus mechanism, has seen increased traction in decentralized finance (DeFi) and a current market cap of $6.7 billion. The proposed ETF may also generate staking rewards, aligning with recent developments in other crypto-based funds. This move is part of Canary Capital’s broader strategy to bring multiple crypto ETFs to market, with additional filings for assets like Litecoin, Solana, XRP, and Hedera already underway. The SEC’s review of such applications follows the earlier approval of Bitcoin and Ethereum ETFs, potentially signaling a new wave of crypto investment products.

• Canary Capital filed with the SEC for a spot SUI ETF, which would be the first to track the rapidly growing SUI blockchain, developed by ex-Facebook engineers.

• The ETF may include staking features and is part of a wider push by Canary to launch multiple crypto ETFs amid rising institutional interest and regulatory momentum.

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