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The US Securities and Exchange Commission (SEC) is downsizing and rebranding its crypto enforcement unit, signaling a shift away from its aggressive crackdown on the industry. Once nearly doubled under former SEC Chair Gary Gensler, the SEC’s crypto task force unit will now shrink to around 20 specialists and focus on broader financial crimes, including AI-related fraud and cybersecurity threats. The move comes as Elon Musk’s Department of Government Efficiency (DOGE) prepares to audit the agency for wasteful spending. Previously called the Crypto Assets and Cyber Unit, the scaled back SEC division is now the Cyber and Emerging Technologies Unit, according to a Feb. 20 press release . In 2022, former SEC Chair Gary Gensler said that the crypto task force was almost doubling to 50 people. In the recent press release, the securities regulator said that the renamed unit will only include “approximately 20 fraud specialists and attorneys across multiple SEC offices.” The overhauled unit will also clear the way for “innovation to grow,” said Acting Chair Mark Uyeda in a statement. “It will root out those seeking to misuse innovation to harm investors and diminish confidence in new technologies,” he added. Although the unit will still hunt for “fraud involving blockchain technology and crypto assets,” it will also watch for unlawful uses of artificial intelligence (AI), hacks and other cybersecurity crimes. The change in the SEC’s crypto unit comes shortly after the Department of Government Efficiency (DOGE), led by billionaire Tesla and SpaceX founder Elon Musk, announced that it will audit the SEC for any wasteful spending and potential fraud. Although DOGE has not given a specific date for when the audit will be performed, the scaling back of the SEC’s crypto unit could be a proactive move on the regulator’s part with DOGE expected to show up in the next few days. The shift away from aggressive enforcement action in the crypto space also aligns with US President Donald Trump’s campaign promises to make the US the “crypto capital” of the world.

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$X Empire ($X ) is a rapidly emerging cryptocurrency that has garnered significant attention since its launch in July 2024. Initially introduced as Musk Empire, the project rebranded to X Empire in September 2024 to reflect its broader vision and expanding ecosystem. Operating as a tap-to-earn (T2E) game on the Telegram platform, X Empire allows players to engage with an Elon Musk-inspired avatar, earning in-game currency that can be converted into real tokens tradable on various exchanges. The game emphasizes strategic play and community engagement, setting it apart in the play-to-earn sector. Within a few months of its debut, X Empire attracted over 50 million users, with 15 million connected wallets and 12 million daily active users, highlighting its widespread adoption and trust within the crypto community. As of February 21, 2025, X Empire is trading at approximately $0.000061 USD, with a 24-hour trading volume of $49,113,681 USD. The token has a circulating supply of 690 billion X coins, leading to a market capitalization of around $42,340,514 USD. Despite a recent 0.92% dip in the last 24 hours, the coin's performance indicates potential for growth. Analysts have noted that X Empire has experienced significant price fluctuations over the past month, with a notable decline of 59.50% against the Indian Rupee (INR). However, the token has shown resilience, with a 2.3% increase in value over the past 24 hours and an 8.8% rise over the past week. The X Empire token is available for trading on several centralized crypto exchanges, with Bitget being the most active platform, boasting a trading volume of $47,233,705 in the last 24 hours. Other notable exchanges include Bitunix and Bybit, providing traders with multiple avenues to engage with the token. While some forecasts suggest a potential rise in $X Empire's price by 226.42%, reaching $0.000182 by March 21, 2025, it's essential to approach such predictions with caution. The cryptocurrency market is inherently volatile, and while X Empire's growing user base and active community are promising indicators, potential investors should conduct thorough research and consider their risk tolerance before investing. In summary, $X Empire stands out as a trustworthy and innovative player in the cryptocurrency landscape, offering a unique blend of gaming and earning opportunities. Its rapid adoption and active community support underscore its potential for future growth. However, as with any investment, it's crucial to stay informed and exercise due diligence. $X

Elon Musk is running the US government—at least, that’s what he wants everyone to believe. On X (formerly Twitter), he presents himself as President Donald Trump’s personal war machine, the man in charge of tearing down Washington’s bureaucratic mess through the Department of Government Efficiency (D.O.G.E). He claims he’s axing federal jobs, shutting down agencies, and cutting billions in wasteful spending. But inside the White House, the story is not quite the same. The Trump administration now swears in court that Musk is just an adviser, not a decision-maker. In a legal filing on Tuesday, the White House testified that Musk has no control over D.O.G.E and no real power in government. Trump needs Musk, but he also needs to distance himself. A new poll released Wednesday shows 55% of Americans believe Musk has too much influence. If the White House admits Musk is running D.O.G.E, it could fuel constitutional challenges and weaken Trump’s populist image. So they’re playing both sides—letting Musk take credit while legally denying his authority. pic.twitter.com/gA9MwklW7H — Elon Musk (@elonmusk) February 20, 2025 White House scrambles to rewrite Musk’s role The White House can’t keep its story straight. On Tuesday, Press Secretary Karoline Leavitt insisted that D.O.G.E is nothing more than an advisory board that delivers recommendations to Trump and his cabinet. “A president wins an election, and he appoints staff, including myself … including Elon Musk,” said Stephen Miller, Trump’s deputy chief of staff. “And those staff report to him.” Yet just hours later, Musk sat beside Trump for a pre-recorded Fox News interview, talking about how he’s dismantling the federal government. He described his “special relationship” with Trump, his mission to enforce executive orders, and how he’s leading the charge against bureaucracy. So, which version is true? A growing number of lawsuits demand answers. Federal courts are struggling to define Musk’s role in government. More than a dozen lawsuits have been filed against Trump’s D.O.G.E, accusing it of operating outside legal boundaries. At a hearing on Monday, US District Judge Tanya Chutkan challenged Trump’s lawyers on Musk’s unchecked power. “What appears to be the unchecked authority of an unelected individual and an entity that was not created by Congress and over which it has no oversight” raises serious constitutional concerns, Chutkan said. Many Democratic attorneys general want Musk and D.O.G.E blocked from interfering with federal agencies. But courts are hesitating. The problem is nobody can define what D.O.G.E actually does. Chutkan refused to grant an emergency order stopping Musk. She ruled that D.O.G.E’s exact role is still unclear, making a legal intervention premature. The same lack of clarity is hurting other lawsuits. Since D.O.G.E operates in the shadows, plaintiffs can’t prove how or where it will strike next, making it difficult for courts to act preemptively. D.O.G.E operates in secrecy while Musk adds to the chaos A month into Trump’s second term, D.O.G.E remains a mystery. The office has no known administrator, no published list of employees, and no public records of its decisions. The only thing that’s clear? Musk is calling the shots—at least on X. Since Trump’s inauguration, Musk has flooded his X platform with announcements about government programs being cut, employees being removed, and agencies being shut down. At times, it’s impossible to tell whether he’s speaking for himself or for the government. Earlier this month, a Wired investigation identified many D.O.G.E staffers. Musk responded immediately, posting on X that revealing their identities “should be considered a criminal act.” The White House, meanwhile, claims D.O.G.E is operating under “total transparency.” “All of our actions are fully public,” Musk told reporters at the White House this week. While lawsuits pile up, Trump is turning D.O.G.E into a political selling point. At the FII Priority Summit in Miami Beach, Florida, Trump announced that he’s considering sending 20% of D.O.G.E savings directly to Americans. “There’s even under consideration a new concept where we give 20% of the D.O.G.E savings to American citizens and 20% goes to paying down debt,” Trump said. Musk has promised that D.O.G.E will cut $2 trillion in federal spending from the $6.75 trillion annual budget. If that happens, that means $400 billion could be redistributed to taxpayers—roughly $5,000 per household. Some Republicans are already trying to pitch the plan as a “D.O.G.E dividend.” Others warn that without proof of real savings, it’s nothing more than an election gimmick.

A poll on X showed some surprising results, suggesting XRP might currently be more popular than Bitcoin or Ethereum. A popular X account writing about Bitcoin, with almost 200,000 followers, asked: “if Elon and Trump give out $5,000 DOGE checks at the end of the year, what are you buying?” Over 20,000 people voted and XRP got around 63% of the votes, with Bitcoin earning approximately 30%, and Ethereum only 2%. This was arguably unexpected, but it does show XRP’s rising popularity in recent times. This result prompted some users to tag David Schwartz (CTO of Ripple), who responded with humor. After being stagnant for years, XRP shot up in the last several months, with recent events putting it in the spotlight. For instance, recently The US Securities and Exchange Commission (SEC) acknowledged applications for XRP-focused exchange-traded funds (ETFs) from asset managers such as Grayscale and Bitwise. While this acknowledgment doesn’t mean approval, it initiates a review process and has fueled optimism about potential institutional adoption of XRP. In addition, just today, Brazil’s securities regulator has approved the country’s first spot XRP ETF, the Hashdex Nasdaq XRP Index Fund. This move could mean growing international acceptance and could lead to increased investment in XRP. At the very least, it adds more recognition to XRP. Recent reports indicate that whales have accumulated over 150 million XRP within a 48-hour period. In addition, three days ago , whales acquired 60 million XRP in one day. Such notable accumulation shows strong confidence in XRP’s future performance and it can influence upward price momentum. Related: XRP Whales Continue Accumulation Spree, 20 Million More Added Analysts believe that if these trends continue, XRP could test resistance levels around $3 in the near future, especially if an ETF receives approval or further institutional partnerships are announced. Will XRP’s price rise to that point or even more than that is yet to be seen, but a good deal of crypto enthusiasts seem very interested in the cryptocurrency lately, and the poll is a solid evidence to that. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.