The US DOJ just published a new directive claiming it will stop investigating and criminally charging crypto exchanges, mixers, and offline wallets.
This has produced a mixed response from the crypto community. Some sectors are jubilant about the potential freedom for business, while others fear the growing problem of fraud and criminal money laundering.
Today, the Department of Justice (DOJ) released a statement claiming it will no longer investigate crypto entities.
“The Justice Department will stop participating in regulation by prosecution in this space. Specifically, the Department will no longer target virtual currency exchanges, mixing and tumbling services, and offline wallets for the acts of their end users or unwitting violations of regulations,” the DOJ’s statement claimed.
The DOJ’s statement applies to cryptocurrency exchanges, wallets, and crypto mixers like Tornado Cash. It builds on the Department’s previous announcement today, claiming that it disbanded the National Cryptocurrency Enforcement Team.
The department gives itself room to prosecute individual bad actors, but only in specific circumstances.
However, the department is now moving on from crypto. According to today’s announcement, it will even drop any ongoing investigations against such entities immediately.
We will wait to see what happens with the Tornado Cash and Samourai Wallet prosecutions. But the memo from the Deputy Attorney General yesterday is right on target: we should be going after bad guys. Not the developers of good tools that bad guys happen to use. pic.twitter.com/h8taM5BvGm
— Peter Van Valkenburgh (@valkenburgh) April 8, 2025
Also, it will not pursue legal liability for developers whose code is used by others to commit crimes, and it has closed all active investigations.
While it was expected that the department would lower its crypto enforcement under Trump, the complete laissez-faire decision has caught the crypto by surprise. Following the news, Tornado Cash (TORN) surged nearly 10% today.
The Department also asked regulators to review victim compensation laws. Although this is arguably a victory for crypto, it may also enable future finance crimes.
The DOJ is disabling its ability to target criminals on exchanges and mixers, with little guarantee that it can enforce the law. In other words, it may be removing critical guardrails to prevent future disasters.
“Crypto lobby: ‘Sure, Trump nixed the Crypto Enforcement Team, directed Major Fraud prosecutors to stop prosecuting crypto cases, and is trying to exempt crypto platforms from the Bank Secrecy Act, but they wrote right here that they care about stopping crypto crime! Reject the evidence of your eyes and ears!’” claimed crypto researcher Molly White.
Overall, it’ll be difficult to fully predict the implications of the department’s new policy on exchanges. For now, this directive will give many crypto-related businesses the freedom to conduct operations as they see fit.
Hopefully, business will proceed as usual without any serious controversies.
At the beginning of 2025, Layer-1 (L1) blockchain network Solana found itself in the spotlight, thanks to meme coins.
Donald Trump’s Official Trump (TRUMP) meme coin launch on January 17 ignited a flurry of activity across the network, driving demand to levels unseen since the 2021 bull cycle.
While these volatile assets boosted Solana’s network activity and pushed up SOL’s price, they also present a paradox. They have brought in liquidity, users, and attention—but at what cost?
Presidential Memes Pump Solana Into Overdrive
Solana’s cheap, lightning-fast transactions and highly composable DeFi infrastructure make it one of the most preferred blockchains for launching meme coins. So when newly elected Donald Trump launched his TRUMP meme coin on the network in January, it came as no surprise to many.
Following TRUMP’s launch on January 17, demand for Solana skyrocketed, driven on the one hand by developers eager to launch their own meme coins and on the other by the frenzy of trading activity surrounding them.
Melania Trump followed her husband’s lead by launching her MELANIA meme coin on the same chain two days later. This move exacerbated the meme hype and drove significant trade volumes across multiple meme coins, both existing and newly created.
For example, within a day of launch, MELANIA’s trading volume soared 396%, jumping from $1.33 billion to $6.6 billion, according to CoinGecko data.
Solana Memes Took It to the Moon, Then Back Down
This development drove significant user engagement on Solana. According to Glassnode, by January 24, the network was processing 832,000 active addresses per hour, over 26 times more than Ethereum, which recorded just 31,000 per hour.
Due to the huge influx of new users on the network, transaction fees rocketed. Per Glassnode, Solana’s total transaction fees climbed to an all-time high of $32.43 million on January 19 after MELANIA launched. On the same day, SOL climbed to an all-time high of $293.
However, market exhaustion set in shortly after this price peak was reached. The meme coin mania began to fade, taking Solana users with it. Daily active addresses and new demand for the L1 plunged, dragging down DEX volume, SOL’s price, and DeFi TVL.
For example, SOL’s DEX volume hit an all-time high of $36 billion on January 19. But as the meme coin hype cooled off, by January 31, it had plummeted to just $3.8 billion, dropping nearly 90%. As of April 15, this totaled $1.5 billion.
Solana’s network revenue was not spared. Daily revenue, which rose to an all-time high of $16 million on January 19, plummeted to under $5 million by the end of January. Yesterday, the network’s total revenue from all transactions completed was under $115,000.
While TRUMP, MELANIA, and the slew of other meme coins that launched on Solana in the first few weeks of the year drove unprecedented network activity and boosted SOL’s value, the drop in their values and overall trading volumes has impacted the network’s performance.
It then raises the question of whether Solana’s actual value is now tied to this highly volatile, borderline chaotic asset class.
In an exclusive interview with BeInCrypto, Binance Research spokesperson Marina Zibareva noted that while these meme assets contributed to the network’s growth at the beginning of the year, Solana’s performance remains “increasingly driven by broader ecosystem fundamentals.”
According to Zibareva:
“We’ve seen DeFi TVL grow nearly 4x in SOL terms since January, and stablecoin supply has increased over 6x – pointing to lasting interest in real utility. Developer activity is also accelerating, with smart contract deployments rising almost 6x, suggesting strong long-term potential beyond the speculative wave.”
Although Solana’s inherent features make it a go-to destination for launching meme coins via platforms like Pump.fun, Jupiter, and Meteora, Zibareva sees a future for the network that stretches beyond meme coins.
“Meme coins have brought attention and users, but the long-term trajectory likely points toward use cases like DeFi, DePIN, Gaming, and SocialFi. Solana’s daily active addresses have increased nearly 6x year-to-date, and with its infrastructure battle-tested, we expect to see more developer activity focused on sustainable value creation,” she added.
In an exclusive AMA session hosted by BeInCrypto, Dmitry Lazarichev, Co-Founder of Wirex, unveiled the company’s bold expansion into the U.S. market. With a focus on self-custody, seamless crypto-to-fiat conversions, and real-world usability, Wirex Pay is set to shake up how Americans interact with digital assets.
From spending stablecoins at 80 million merchants via Visa to instant on/off-ramp features powered by Bridge, Wirex is an all-inclusive payments platform. Lazarichev explained how this move addresses the growing U.S. demand for crypto solutions that combine speed, security, and control without sacrificing the convenience of traditional finance.
In this AMA, Lazarichev also shared how Wirex empowers users with full ownership of their funds, fosters DeFi adoption via its WXT token, and ensures enterprise-grade security. Let’s get into it!
Join the BeInCrypto Trading Community, participate in our AMA sessions, and earn cash prizes for your questions to our guest speakers!
AMA Session With Wirex
BeInCrypto: Today, we have a special guest speaker – Dmitry Lazarichev, Co-Founder of Wirex (@DmitryWirex)!
Ok, let’s start with this question
What motivated Wirex to expand its stablecoin payment platform to the U.S.?
Dmitry Lazarichev: The decision to expand Wirex’s stablecoin payment platform to the U.S. was motivated by the growing demand for seamless and secure crypto payment solutions in the country.
The U.S. has long been a leader in the adoption of digital assets, with both consumers and businesses seeking practical ways to leverage crypto in everyday transactions.
By bringing Wirex Pay to the U.S., we aim to meet this demand and offer users a simple, reliable way to use stablecoins in real-world payments while maintaining control over their assets.
Expanding to the U.S. was a strategic move to tap into a market that is rapidly evolving in terms of crypto adoption. The U.S. offers a unique combination of a large user base, innovation-driven businesses, and regulatory frameworks that support the growth of digital assets.
By providing Wirex Pay, we can facilitate the adoption of stablecoin-based transactions, which offer a more stable and secure alternative to traditional financial systems.
BIC: How does Wirex Pay differ from other payment platforms available in the U.S.?
Dmitry: Wirex Pay differentiates itself from other payment platforms by being a self-custodial solution. This means that users retain full control over their funds at all times, unlike many platforms that require users to trust a third party to manage their assets.
Additionally, Wirex Pay allows users to spend stablecoins at over 80 million merchants globally, thanks to its integration with Visa’s payment network. We also offer real-time conversions between crypto and fiat, ensuring smooth transactions without the need for complex wallet transfers or exchanges.
The core difference lies in the control we offer to our users. Most platforms are custodial, meaning they hold your assets in their wallets. Wirex Pay, however, allows users to retain ownership of their funds while making seamless payments through Visa’s global network.
This gives users the flexibility to spend stablecoins without needing to convert them to fiat first, making the process faster, simpler, and more secure.
BIC: What are the key features of Wirex Pay that U.S. users should be excited about?
Dmitry: U.S. users should be particularly excited about the instant on/off-ramp solutions provided through our partnership with Bridge, which allow for seamless, real-time conversions between stablecoins and fiat. This feature eliminates the delays typically associated with converting crypto to traditional currencies, making it easier to use digital assets in daily life.
In addition, users can benefit from real-time on-chain swaps for stablecoins and fiat, offering them greater flexibility and control. The ability to spend stablecoins directly at millions of merchants through the Visa network is also a standout feature.
The convenience of instant conversions ensures that users can access their funds in whichever form they need—whether crypto or fiat—without waiting for transactions to settle. This feature not only improves the user experience but also reduces friction in the transaction process.
Plus, having access to a wide range of merchants through Visa integration makes it incredibly convenient for users to pay with stablecoins wherever they go.
BIC: Can you explain how the collaboration with Bridge improves the user experience for U.S. customers and share more details about how stablecoin orchestration works through Bridge?
Dmitry: The collaboration with Bridge significantly enhances the Wirex user experience by making stablecoin transactions faster, more secure, and hassle-free. Bridge allows for real-time orchestration of stablecoin conversions, meaning users don’t have to manually swap assets or rely on third parties for transactions.
This process is automated and seamless, enabling users to convert between stablecoins and fiat instantly. For U.S. customers, this integration ensures that their funds are always available and ready to be spent, reducing wait times and simplifying the entire experience.
Bridge’s technology essentially streamlines the conversion process, so users don’t have to worry about manually exchanging stablecoins or worrying about market fluctuations. This automated orchestration provides a frictionless experience for users, ensuring that their transactions are not only fast but also secure.
By handling conversions behind the scenes, Bridge allows us to offer a more intuitive and efficient platform for U.S. users.
BIC: What are the benefits of using Wirex Pay via card and bank transfers while maintaining full control over funds?
Dmitry: The main benefit of using Wirex Pay via card and bank transfers is that it allows users to maintain full control over their funds while still making payments in a way that feels familiar. Users don’t need to trust a third party with their assets, as they can link their non-custodial wallets directly to the platform.
This gives them the flexibility to spend stablecoins at millions of merchants, without losing control of their crypto. Additionally, Wirex Pay offers seamless integration between crypto and traditional finance, so users can convert funds as needed without extra steps or delays.
The self-custodial nature of Wirex Pay is a game-changer for users who want to keep their crypto assets secure while still using them for daily purchases. This model eliminates the risk associated with custodial services, where assets are held by a third party.
Plus, the flexibility to use cards and bank transfers makes the platform accessible for a wider range of users, offering them the convenience of traditional payment methods while still enjoying the benefits of using stablecoins.
BIC: What kind of impact will the instant on/off-ramp solutions provided by Bridge have on U.S. users’ ability to convert crypto to fiat and vice versa?
Dmitry: The instant on/off-ramp solutions offered through Bridge will have a significant impact on U.S. users by removing the friction typically associated with crypto-to-fiat conversions.
Users can instantly convert their stablecoins into fiat, and vice versa, without waiting for transactions to settle or worrying about exchange rates.
This will make it much easier for users to use crypto in everyday life, whether they’re paying for goods, sending money, or managing their finances. The instant liquidity ensures that users can access their funds in the form they need, right when they need them.
This functionality is particularly beneficial for users who need to make quick payments or transfer funds between different currencies.
It eliminates the delays usually associated with conversion services, ensuring that users always have immediate access to the currency they require.
As a result, it also helps to make crypto more practical for everyday use, enabling faster transactions with fewer barriers.
BIC: Will the integration with Bridge allow U.S. businesses to accept payments in stablecoins directly? If so, what are the benefits for them?
Dmitry: Yes, U.S. businesses will be able to accept payments in stablecoins directly through Wirex Pay, thanks to our integration with Bridge.
The benefit for businesses is that they can avoid the volatility often associated with traditional cryptocurrencies, as stablecoins are pegged to fiat currencies.
This offers businesses the ability to accept digital payments while maintaining predictable value. It also allows them to tap into a growing customer base that prefers to use crypto for transactions, opening up new revenue streams.
By accepting stablecoins, businesses not only offer a modern payment method but also reduce transaction fees and payment processing times compared to traditional methods.
This can lead to greater efficiency, lower costs, and faster payments, which are key advantages for businesses looking to innovate and attract a tech-savvy customer base.
BIC: How does Wirex envision the future of crypto payments in the U.S., and what role will Wirex play in it?
Dmitry: Wirex envisions a future where crypto payments are integrated seamlessly into everyday life. As more people adopt digital currencies, we see a growing demand for stablecoin payments that are easy to use and widely accepted.
Wirex’s role will be to make these payments as simple and accessible as traditional card payments or bank transfers. We aim to provide the infrastructure and user-friendly tools that make it easy for individuals and businesses to use stablecoins in real-world transactions.
The future of crypto payments is about making digital currencies as easy to use as cash or credit cards. Wirex aims to be at the forefront of this transformation, providing U.S. users with the tools they need to transact easily and securely in a digital economy.
As the market evolves, we’ll continue to refine our platform and expand its capabilities to meet the changing needs of both consumers and businesses.
BIC: What updates and new features can U.S. users expect from Wirex in the next six months to a year?
Dmitry: In the next six months to a year, U.S. users can expect a variety of exciting updates and new features. We’re focused on expanding the range of stablecoins available on the platform, improving transaction speeds, and integrating with more payment systems to enhance user experience.
We’ll also be refining our platform’s security features and introducing additional tools that will make managing crypto assets even easier. These updates will ensure that Wirex remains a top choice for crypto payments in the U.S.
In addition to these enhancements, we’ll be rolling out improvements based on user feedback, ensuring that our platform meets the evolving needs of our growing U.S. user base.
The goal is to make Wirex Pay even more accessible and feature-rich, making it easier for U.S. users to navigate and manage their digital assets with confidence.
BIC: Now, my favourite part — questions from our Community
@Nauraa42: How does WXT bridge the gap between traditional finance and decentralized finance (DeFi), and what role does it play in Wirex’s long-term vision of integrating crypto into everyday financial transactions?
Dmitry: WXT, Wirex’s native token, plays a crucial role in bridging the gap between traditional finance and decentralized finance, acting as the bridge that connects these two worlds within the Wirex ecosystem. Through its utility, WXT helps to simplify the user experience, making DeFi more accessible to both crypto enthusiasts and traditional finance users.
One of the key ways WXT bridges this gap is by offering users a seamless way to participate in DeFi services while also engaging in everyday financial transactions. WXT can be used for earning rewards, and accessing exclusive benefits within the Wirex platform.
These features enable traditional finance users to explore DeFi in a straightforward and familiar manner. For example, users can earn rewards by staking WXT, gaining exposure to DeFi principles like yield farming, without needing to fully immerse themselves in complex DeFi protocols. This hands-on approach provides an easy entry point for those new to the space.
In the long run, WXT plays a key role in Wirex’s mission to make digital finance mainstream. By incorporating WXT into both DeFi activities and everyday transactions, Wirex is positioning itself as a bridge that connects users to the benefits of decentralized finance while ensuring they have the tools and rewards they need to make crypto a regular part of their financial lives.
BIC: @PaulTan001: Wirex is fantastic, and it has good ideas. Each project has interesting stories before it is created. So can you tell us about the story, problems, difficulties, etc., that gave you the motivation to build and develop Wirex?
Dmitry: Absolutely! Pavel Matveev and I, in fact, discussed the inspiration and journey behind Wirex in a recent anniversary episode of the Wirex Crypto Podcast.
We reflected on the exciting moments and the challenges we faced along the way in building the platform from the ground up. If you’re curious about our journey, the lessons we’ve learned, and the vision behind Wirex, make sure to check out the full episode here:
BIC: @tamishabaumann2: How can we trust WIREX and believe it is not a scam project? A lot of rug pulls and exit scams are happening these days.
Dmitry: It’s completely understandable to be cautious, especially with the rise of scams in the crypto space.
However, Wirex is a fully regulated and trusted platform with a proven track record of transparency, security, and compliance. We’re committed to safeguarding our users’ assets and providing them with a reliable, long-term solution for managing both crypto and traditional finance.
At Wirex, security is a top priority. We deploy multiple layers of advanced security measures to protect our customers and their assets. For example, we use Fireblocks Secure MPC Technology, which leverages Multi-Party Computation (MPC) to ensure private keys are never exposed and eliminate any single points of failure. This technology helps secure your assets with institutional-grade protection.
Additionally, all significant withdrawals from Wirex require multi-signature and multi-approval processes, which involve strict approval by authorized personnel using verified devices. This ensures that unauthorized transactions are prevented. We also utilize whitelisted and time-locked transactions, restricting withdrawals to pre-approved addresses and applying time delays for high-value transactions to further mitigate risks.
To further protect our users, Wirex has an advanced fraud and risk management system in place. We continuously monitor transactions for suspicious activity and use automated risk controls and fraud detection algorithms to block unauthorized transfers in real time. We also collaborate with leading cybersecurity and blockchain analytics firms to stay ahead of emerging threats and malicious actors.
Wirex operates in compliance with the highest industry standards. We are ISO 27001 and PCI DSS 4.0 certified, adhering to globally recognized cybersecurity and privacy management standards. Our commitment to regulatory compliance across multiple jurisdictions, including the UK and Australia, ensures transparency and resilience. Additionally, our security infrastructure undergoes regular third-party audits to validate and strengthen our defenses against evolving threats.
Wirex has been operational for over 10 years, and with the combination of these security protocols, regulatory adherence, and industry best practices, we offer our users peace of mind that their assets are in safe hands. We believe in the power of transparency and security, and we work tirelessly to provide a platform that users can trust.
BIC: @ngocsont993: Can you tell us about WIREX’s team members? Are they qualified and professional in their fields? What are the recruiting qualifications for team members of WIREX?
Dmitry: Absolutely! At Wirex, we are incredibly proud of our team, which is made up of highly skilled and qualified professionals who bring a wide range of expertise from fields like finance, technology, cybersecurity, regulatory compliance, and more.
Our team members share a common passion for transforming the financial landscape, and together, we work toward our goal of bridging the gap between traditional finance and the world of cryptocurrency.
Wirex has built a global presence with offices in key locations such as London, Italy, Singapore, and Ukraine. Each office plays an integral role in our operations, helping to ensure we can serve our diverse user base across various regions and maintain a high level of service and innovation. Our teams in these offices bring a wealth of regional expertise while contributing to Wirex’s overarching vision of revolutionizing digital finance on a global scale.
Recruiting at Wirex is a highly selective process, and we seek individuals who not only have strong technical expertise but also align with our values of transparency, security, and innovation.
We are open to accepting brilliant minds from around the world to join us in creating a new story. We believe in building a diverse and dynamic team that reflects the global nature of the crypto ecosystem. You can check out our job openings here https://wirex.bamboohr.com/careers
BIC: @trgdoa: Can you provide WIREX’s official Telegram group links and social media links? I have seen many similar groups.
Dmitry: Sure! For official communication and updates, here are the links to Wirex’s official Telegram group and social media profiles:
Make sure you’re following these official channels for the latest news, announcements, and support. If you see other similar groups, please be cautious and make sure they are not unofficial or potential scams. Always rely on the official Wirex links for your safety and security!
BIC: It was the last question of our AMA session!
@DmitryWirex thank you for being here today
Conclusion
Wirex’s move into the U.S. marks a thoughtful step toward making stablecoin payments more accessible and user-friendly. By offering self-custodial control, seamless crypto-to-fiat conversions through Bridge, and integration with Visa’s payment network, Wirex provides a practical solution for those looking to use digital assets in everyday life.
As Dmitry Lazarichev highlighted in the AMA, the focus is on combining the convenience of traditional payments with the benefits of stablecoins, without compromising on security or user control.
With clear use cases for both individuals and businesses, Wirex Pay shows potential to support wider adoption of crypto payments in a way that feels familiar, yet future-ready.
Pi Network has been facing a challenging period after its price dropped by 18% in the last 48 hours.
This drop has invalidated its recent attempt to recover losses from March. The altcoin is now vulnerable to further corrections, raising concerns among investors.
Pi Network’s Bearishness Could Grow
The Relative Strength Index (RSI) continues to indicate that bearish momentum is still present. Currently stuck below the neutral line of 50.0, the RSI is signaling a lack of bullishness for Pi Network. This suggests that the altcoin may face additional downward pressure in the coming days.
The ongoing negative sentiment is compounded by the general market’s lack of momentum. Investors are hesitant to buy Pi Network due to the failure to sustain price recoveries. With no clear bullish signal from the RSI, the risk of further declines remains high.
The Bollinger Bands are narrowing, indicating that Pi Network may soon experience a surge in volatility. This contraction typically signals an impending price breakout or breakdown. However, if the bearish momentum continues, Pi Network could face a sharp decline, confirming the downward trend.
Given the current squeeze in the Bollinger Bands, Pi Network’s price could see a significant move soon. If the bearish trend holds, this volatility may drive the price lower, exacerbating the altcoin’s already weak performance. The uncertainty surrounding the market adds to the vulnerability of Pi Network.
Pi Network’s price is currently at $0.613, but it is still stuck below the $0.617 resistance level. After the 18% drop in the last two days, the altcoin remains under pressure. If the price continues to face downward momentum, it may struggle to break through key resistance levels.
The next major support level for Pi Network is $0.519, which could be the next target if the selling pressure intensifies. A drop to this level could be a precursor to further declines, potentially bringing the price below $0.500. This would significantly impact investors holding the altcoin.
However, if Pi Network can reclaim the $0.617 support, it could break the downtrend and rise toward $0.710. Breaching this resistance would invalidate the bearish outlook and could spark a recovery, giving investors hope for a reversal.
