Ethereum News: Coinbase CLO Calls Out U.S. Treasury for Ignoring Court Ruling on Tornado Cash Delisting

In a recent development in the cryptocurrency world, Coinbase’s Chief Legal Officer has spoken out against the U.S. Treasury Department’s decision to ignore a court ruling regarding the delisting of Tornado Cash. This ruling has sparked a debate about the balance between blockchain transparency and innovation.

Coinbase CLO Criticizes U.S. Treasury for Ignoring Court Ruling on Tornado Cash Delisting

Coinbase’s Chief Legal Officer Paul Grewal criticized the U.S. Treasury Department for disregarding a Fifth Circuit ruling requiring Tornado Cash’s removal from the sanctions list. The U.S. Treasury favours strict oversight over blockchain’s transparency, risking innovation. Critics argue that traditional banks are still widely used for money laundering, and developers may be deterred from building new blockchain tools if faced with criminal charges. Grewal cited the government’s incorrect application of sanctions laws to Immutable smart contracts.

Ethereum (ETH) Struggles To Hit $2,000

Ethereum is facing challenges in reaching the $2,000 mark, with weak whale accumulation indicating cautious behavior among large investors. While some indicators like BBTrend are showing early signs of stabilization, Ethereum is trading near critical support zones. The BBTrend indicator has just turned positive after six consecutive days in negative territory, currently sitting at 0.22. This shift marks a potential early sign of stabilization, as sellers may be losing control in the short term.

Ethereum Shows Signs of Bullish Breakout on 4-Hour Chart

Ethereum has been under intense selling pressure in recent weeks, dropping below the $2,000 mark and reaching a low of $1,750 on March 11. Despite this decline, a new technical setup suggests Ethereum could be poised for a bullish turnaround as it retests a key resistance level on the 4-hour chart. The cryptocurrency has shown signs of recovery after sinking to its lowest point since November 2023.

Standard Chartered Slashes ETH Price Target to $4,000

Ethereum, like the broader crypto market, has seen a significant price drop in recent weeks. From a high of $3,352 at the start of 2025, Ether now trades between $1,800 and $1,900, marking a steep decline for the world’s second-biggest crypto by market cap. The altcoin is down 47% from last year’s value and is expected to face extended price correction due to various market factors. Notably, Standard Chartered has reduced its 2025 ETH price forecast by 60%, from $10,000 to $4,000, citing the impact of Layer-2 networks as one of the reasons.