Today in crypto, Bitcoin’s price held steady despite renewed trade uncertainty after the US Supreme Court concluded that President Donald Trump’s sweeping tariffs were illegal. Democrats in the US House of Representatives sent a letter pressing Treasury Secretary Scott Bessent over World Liberty Financial’s push for a national trust bank charter, citing systemic risk. Meanwhile, the White House sought a middle ground in the latest talks between the banks and crypto over a key bill.
Bitcoin price shrugs off Supreme Court ruling
The price of Bitcoin was rangebound on Friday, trading around $68,000 after the US Supreme Court ruled that President Trump’s tariffs were unconstitutional.
In a 6–3 decision, the court found that key portions of Trump’s tariff regime were illegal, determining that the International Emergency Economic Powers Act (IEEPA) did not grant the executive branch authority to impose sweeping import duties. The ruling reaffirmed that tariff policy falls under Congressional powers, potentially opening the door to billions of dollars in refund claims on duties collected since 2025.
Despite the ruling’s potential macroeconomic impact, including talks of up to $150 billion in tariff refunds, Bitcoin’s price action barely budged, holding around its existing range as traders weighed broader US inflation data and weakening rate-cut expectations. Investors in risk assets seemed cautious, with crypto markets focusing more on macro sentiment than the legal shift in trade policy.
House Democrats press Treasury on WLFI bank charter and UAE stake
House Democrats are pressing Treasury Secretary Scott Bessent over how regulators are handling World Liberty Financial’s bid for a national trust bank charter to issue a dollar-backed token.
In a letter on Thursday, 41 House Financial Services Committee Democrats led by Representative Gregory Meeks cited systemic risk, foreign ownership and potential political pressure on the bank chartering process.
They asked Bessent to explain what safeguards exist to prevent foreign government officials or politically connected investors from using the charter process to gain leverage over the US financial system.
The lawmakers pointed to reporting that a senior royal from the United Arab Emirates quietly acquired almost half of World Liberty Financial for about $500 million, including a reported $187 million flowing to Trump-affiliated entities, while the company pursued a national trust bank charter with the Office of the Comptroller of the Currency (OCC).
They argued that the combination of digital asset trust structures, untested liquidity and resolution frameworks and foreign political interests raised questions that regulators “cannot afford to sidestep.”
White House floats stablecoin reward limits in latest crypto, bank talks
The White House reportedly refocused talks between crypto and bank lobbyists on limiting how stablecoin rewards should be paid in the third meeting between the two groups on Thursday over a crypto market structure bill.
Semafor’s Eleanor Mueller and journalist Eleanor Terrett reported that White House crypto adviser Patrick Witt drove the discussion at the latest meeting and pushed for a previously pitched proposal that would allow third parties to offer stablecoin rewards to customers tied to transactions and activity, and not balances, the latter of which has been a sticking point for banks.
No agreement was reached, but Ripple chief legal officer, Stuart Alderoty, said the groups “rolled up our sleeves and went through specific language,” while Coinbase legal head Paul Grewal called the meeting “constructive and the tone cooperative.”
It's the third meeting between the three parties, who first met on Feb. 2 and again eight days later on Feb. 10, as the Senate is looking to pass a bill to define how US market regulators will police crypto, which is stalled as crypto and banking interests have collided over language restricting stablecoin rewards.
