Trade Court bombshells Trump’s Tariffs. SEC drops lawsuit against Binance

Hello there! 👋

Despite the market cooldown over the past seven days, several important crypto news items have emerged that could shape the future of the Web3 industry. Let’s break them down in this weekly digest 👇

quick weekly news

Trade Court bombshells Trump’s Tariffs

As we’ve grown used to, this digest also begins with news from the United States. On May 29, 2025, the U.S. Court of International Trade blocked most of Donald Trump’s tariffs, ruling that former President Trump exceeded his authority. The court cited the U.S. Constitution, stating that the power to regulate international commerce belongs to Congress, not the President, and that this power is not overridden by the President’s emergency powers to safeguard the economy.

Shortly after the announcement, the Court clarified that its decision was made “not because it is unwise or ineffective, but because federal law does not allow it,” and emphasized that it “does not pass upon the wisdom or likely effectiveness of the President’s use of tariffs as leverage.”

Initially, markets in the U.S., Europe, and Asia responded with cautious optimism, showing slight upward movement. However, the optimism didn’t last long, as investors realized that Congress is currently controlled by the Republican Party, suggesting a high likelihood that the tariffs could return.

The final nail in the coffin for market sentiment came when the Court of Appeals decided to temporarily reinstate the tariffs while it considers the government’s appeal. The court has ordered the plaintiffs to respond by June 5 and the administration by June 9. Bitcoin responded with a slight correction.Source: GoodCrypto

SEC drops lawsuit against Binance

Another important piece of news from the U.S. this week is the SEC’s dismissal of its lawsuit against the Binance exchange. This marks the end of a two-year-long regulatory battle between the U.S. agency and the crypto giant.

To recap, in 2023 Binance faced multiple allegations from the SEC, which claimed the exchange violated several federal securities laws, including money laundering, offering unregistered securities for trading, and falsely asserting that its U.S. branch, Binance.US, wasn’t servicing U.S. users, despite doing so in practice. As a result, the SEC forced the company to pay a $4.3B fine, and Binance CEO Changpeng Zhao (CZ) stepped down from his position.

However, with the arrival of the new White House administration, the SEC’s stance has shifted significantly. Former President Donald Trump vowed to fire SEC Chairman Gary Gensler, replacing him with the more crypto-friendly Paul S. Atkins. In February 2025, the SEC froze the lawsuit and has now decided to drop it entirely. In its latest filing, the SEC stated that dismissing the suit was appropriate “in the exercise of its discretion and as a policy matter.”

SEC says crypto staking is not subject to securities laws

This week, the SEC resolved another long-standing concern for the crypto community – the classification of staking. Under the previous administration, the agency failed to provide a clear regulatory framework for staking, which even forced Ethereum ETF filers in the summer of 2024 to exclude staking disclosures (S-1 forms) from their applications.

Now, the SEC has introduced new guidance on crypto staking, clarifying that most common staking activities are not subject to federal securities regulations. According to the SEC’s latest statement, this applies to the “staking of crypto assets that are intrinsically linked to the programmatic functioning of a public, permissionless network.” The agency added that these crypto assets are “used to participate in and/or earned for participating in such network’s consensus mechanism.”

In conclusion, the SEC identified three main types of staking:

• Self-staking: Users stake their own assets directly.
• Self-custodial staking: Owners delegate staking to node operators while retaining ownership.

Custodial staking: Third-party custodians stake assets on behalf of customers.

GameStop officially purchased 4,710 BTC

GameStop, an American video game retailer, became widely known thanks to the massive attention it received from WallStreetBets, a Reddit-based community of retail stock traders.

On May 28, 2025, GameStop announced its first official Bitcoin purchase, acquiring 4,710 BTC worth approximately $513M. This move followed an earlier statement revealing the company’s intention to allocate part of its $4.8B in cash reserves to digital assets.

However, the market didn’t seem to welcome this decision. GameStop’s stock dropped nearly 11% on the same day the announcement was made. The reaction appears to be speculative in nature – investors often expect companies to use cash reserves for stock buybacks, which can help support the share price during downturns. The more cash reserves a company holds, the greater its ability to stabilize its stock through buybacks. With a portion now tied up in Bitcoin, some investors may fear the company’s reduced flexibility in protecting its share price during volatility.

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