Tether’s opponents are exerting more and more extra stress to push the world’s largest stablecoin issuer out of the crypto market, together with political stress geared toward lowering the agency’s main market share.
Within the wider crypto markets, analysts are suggesting that most cryptocurrencies gained’t see a widespread “altcoin season” rally in 2025, and solely choose tokens with sustainable investor curiosity and revenue-generating fashions can be ready to outperform the remainder of the tokens.
Paolo Ardoino: Competitors and politicians intend to “kill Tether”
Tether’s opponents are working to push the world’s largest stablecoin issuer out of the crypto market, in accordance to the corporate’s CEO, Paolo Ardoino.
Tether, the issuer of the world’s largest stablecoin, USDt (USDT), has a market capitalization of greater than $142 billion — over twice as giant as Circle’s USD Coin’s (USDC) $56 billion, in accordance to Cointelegraph information.
Nonetheless, the stablecoin issuer faces mounting stress from competing corporations and politicians, Ardoino stated in a Feb. 25 X post.
“Whereas our opponents’ enterprise mannequin must be to construct a greater product and even greater distribution community, their actual intent is ‘Kill Tether.’ Each single enterprise or political assembly that they’ve culminates with this intent.”
“I’ll go away it to you to outline a competitor making an attempt to use lawfare to kill an opponent, as an alternative of specializing in higher merchandise,” Ardoino added.
Tether will proceed specializing in its mission to promote world monetary inclusion, notably in underdeveloped economies, Ardoino stated, noting that USDT is utilized by greater than 400 million individuals and beneficial properties 35 million new wallets every quarter.
Ardoino’s feedback adopted Tether’s exclusion from the list of 10 firms authorized to challenge stablecoins beneath the European Union’s Markets in Crypto-Belongings (MiCA) regulatory framework.
Altseason 2025: “Most altcoins gained’t make it,” CryptoQuant CEO says
Most cryptocurrencies past Bitcoin and Ether might not expertise a widespread “altcoin season” rally in 2025, however tasks with sturdy fundamentals and revenue-generating fashions might outperform the broader market, in accordance to Ki Younger Ju, the founder and CEO of CryptoQuant.
“Most altcoins gained’t make it” in the course of the 2025 market cycle, Ju wrote in a Feb. 25 X submit.
Cryptocurrencies with potential exchange-traded fund (ETF) approvals, sturdy revenue-generating fashions and sustained investor consideration might outperform the remainder of the market, Ju stated. Nonetheless, “The period of all the things pumping is over,” he added.
Supply: Ki Young Ju
Ju’s outlook comes as 24% of the 200 largest cryptocurrencies have fallen to their lowest ranges in greater than a yr, sparking hypothesis about attainable market capitulation.
High 200 cryptocurrencies. Supply: Jamie Coutts
The present downturn might sign an incoming market capitulation, in accordance to Juan Pellicer, senior analysis analyst at crypto intelligence platform IntoTheBlock.
“The current market correction, with important liquidations (particularly in property like Solana) and a drop in complete crypto market cap to $3.13 trillion, factors towards attainable capitulation as overleveraged positions are flushed out,” Pellicer instructed Cointelegraph.
Bybit hacker launders $335M as funds proceed to transfer
The hacker behind the $1.4 billion Bybit exploit has laundered greater than $335 million in digital property, with investigators persevering with to monitor the motion of stolen funds.
Crypto investor sentiment was hit by the largest hack in crypto history on Feb. 21, when Bybit lost over $1.4 billion in liquid-staked Ether (STETH), Mantle Staked ETH (mETH) and different digital property.
Onchain information reveals that the hacker has moved 45,900 Ether (ETH) — price about $113 million — in the previous 24 hours, bringing the whole quantity laundered to greater than 135,000 ETH, valued at $335 million.
That left the hacker with about 363,900 ETH, price round $900 million, according to pseudonymous blockchain analyst EmberCN.
US lawmakers advance decision to repeal “unfair” crypto tax rule
US lawmakers in the Home of Representatives have superior a decision to repeal the “DeFi dealer rule,” which requires brokers to report digital asset transactions to the Inner Income Service.
Set to take impact in 2027, the IRS dealer regulation was approved on Dec. 5 and would expand existing reporting requirements to embrace decentralized exchanges. It will require brokers to disclose gross proceeds from sales of cryptocurrencies, together with data concerning the taxpayers concerned in the transactions.
Throughout its Feb. 26 committee markup, the Home Methods and Means Committee, a key group inside the Home that offers with monetary points, voted 26 to 16 to advance the resolution.
Supply: Ways and Means Committee
In a press release, Miller Whitehouse-Levine, the CEO of DeFi advocacy group the DeFi Education Fund, stated the rule is an “illegal and unconstitutional overreach” and wanted to be overturned to “defend Individuals’ freedom of alternative in how they transact.”
MetaMask provides fiat off-ramp for 10 blockchains to enhance crypto accessibility
Ethereum-based cryptocurrency pockets MetaMask is increasing its fiat off-ramp providers to help 10 extra blockchain networks. The transfer, in partnership with funds supplier Transak, is geared toward simplifying the method of changing digital property into conventional foreign money.
MetaMask customers have been beforehand pressured to swap property into Ether (ETH) tokens earlier than having the ability to convert them into fiat cash, including additional steps and transaction charges.
Nonetheless, as a part of MetaMask’s ongoing partnership with Transak, the pockets will add help to 10 new networks: the Arbitrum mainnet, Avalanche C-Chain mainnet, Base, BNB Chain, Celo, Fantom, Moonbeam, Moonriver, Optimism and Polygon.
The primary 4 tokens to obtain quick off-ramping help embrace ETH on Ethereum, ETH on Optimisim, BNB (BNB) and the Polygon (POL) token. Assist for the extra six networks can be step by step rolled out.
“By increasing off-ramping capabilities with Transak, MetaMask is eradicating obstacles between crypto and conventional foreign money, permitting customers to convert a broader vary of tokens immediately to money,” stated Lorenzo Santos, senior product supervisor at Consensys.
DeFi market overview
In accordance to information from Cointelegraph Markets Pro and TradingView, most of the 100 largest cryptocurrencies by market capitalization ended the week in the purple.
The Solana-based decentralized change Raydium’s (RAY) token fell over 55% because the week’s greatest loser, adopted by the Lido DAO (LDO) token, down over 34% on the weekly chart.
Complete worth locked in DeFi. Supply: DefiLlama
Thanks for studying our abstract of this week’s most impactful DeFi developments. Be part of us subsequent Friday for extra tales, insights and training concerning this dynamically advancing house.
