According to BlockBeats, on March 5th, cryptocurrency trading company Cumberland DRW announced on X platform that it has signed a joint application with the US Securities and Exchange Commission (SEC) to withdraw the lawsuit filed against it. The agreement was reached in principle by both parties on February 20th and is currently awaiting approval from the SEC committee. The SEC sued Cumberland DRW in October last year, accusing it of operating as an unregistered securities trader and selling over $2 billion in unregistered securities.

JUST IN: 🇸🇻 El Salvador President Nayib Bukele says the country will not stop purchasing Bitcoin for its strategic reserve.

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BlockBeats News: On March 5th, according to Decrypt, Thailand's Economic Crime Crackdown Department (ECD) recently raided five unlicensed cryptocurrency companies located in Bangkok, Phra Nakhon Si Thammasat, and Phra Nakhon Si Thammasat, arresting 11 individuals involved in the case. This operation targets illegal cryptocurrency trading activities, involving companies with an annual transaction volume of up to 1 billion Thai baht (approximately 29.3 million US dollars). The police seized 6 computers and related evidence at the scene, including company executives and ordinary employees. ECD Commander Thatphum Jaruprat stated that the case is still under further investigation, and Thai authorities will continue to crack down on illegal financial activities and maintain market order.

President Trump’s announcement of a U.S. Crypto Strategic Reserve surprised the industry by including XRP, SOL and ADA alongside BTC and ETH.The market initially surged on the crypto reserve news, but bitcoin subsequently dropped over 10%, and ether plunged more than 15% after Trump’s announcement of new tariffs on imports from Canada, Mexico and China fueled risk-off sentiment.