Ticker: DOJ disbands crypto team; Trump orders review of US steel deal 

The Justice Department is disbanding a team of prosecutors who targeted cryptocurrency crimes and is shifting its focus away from complex crypto-related cases involving banking and securities law, according to a memo.
“The Department of Justice is not a digital assets regulator,” Deputy Attorney General Todd Blanche said in the memo sent to prosecutors.
It’s the latest move by the Trump administration to try to boost the cryptocurrency trade while undoing the Biden administration’s efforts to crack down on wrongdoers in the industry. The Trump administration’s effort has included a similar shift in crypto-related enforcement priorities at the Securities and Exchange Commission.
Blanche’s memo is part of a larger move by the Justice Department to step back from certain white-collar enforcement to align with President Donald Trump’s priorities of tackling illegal immigration, gangs and drug crimes.
Trump orders review of US steel deal
Shares of U.S. Steel are hit a 52-week high after President Donald Trump ordered a new national security review of Nippon Steel’s proposed bid to buy U.S. Steel for nearly $15 billion.
President Joe Biden blocked the deal just before leaving office and Trump had vowed to do the same in previous months. Late Monday Trump ordered the Committee on Foreign Investment in the United States to review the transaction “to assist me in determining whether further action in this matter may be appropriate.”
Shares soared 16% Monday and rose modestly Tuesday.
The confidential review will look for potential national security risks from the proposed deal and the U.S. will give Nippon and U.S. Steel time to respond to any concerns.