USDC Hits Historic $56 Billion Market Cap as Stablecoin Market Surges
Circle's USDC stablecoin has doubled its market cap to $56 billion, with a remarkable $10 billion increase in just 30 days. The growth reflects rising crypto adoption and regulatory developments, though Tether maintains market dominance with $140 billion capitalization.
Kraken Removes Major Stablecoins from EU Platform to Comply with MiCA Regulations
Cryptocurrency exchange Kraken announces removal of five stablecoins, including USDT, from its European platform by March 2024 to comply with EU's MiCA regulations. The move reflects broader industry adjustments as major exchanges adapt operations to meet new regulatory requirements.
Coinbase CEO Signals Potential USDT Delisting Amid Looming US Stablecoin Regulations
Brian Armstrong indicates Coinbase may remove Tether's USDT if new US legislation requires stricter reserve and audit standards. The move could significantly impact the stablecoin market, where USDT remains dominant despite regulatory challenges in multiple jurisdictions.
Standard Chartered Expands into European Crypto Market with Luxembourg Hub
Standard Chartered has launched cryptocurrency custody services in Luxembourg after securing a digital asset license, establishing its European crypto hub. The bank will initially offer Bitcoin and Ether custody, with plans to expand services while adhering to EU's MiCA framework.
Backpack Exchange Acquires FTX EU License, Eyes European Crypto Derivatives Market
Backpack Exchange has secured FTX EU's assets and MiFID II license, planning to launch regulated crypto derivatives trading in Europe by Q1 2025. The strategic acquisition includes managing FTX bankruptcy claims distribution while positioning Backpack as a key player in Europe's underserved regulated crypto market.
Tether Maintains Market Dominance Despite EU Exchange Delistings
Despite European exchanges removing USDT to comply with MiCA regulations, CryptoQuant data shows Tether's reserves and market position remain resilient. Exchange reserve metrics indicate steady buying pressure for the leading stablecoin, contradicting fears about its declining influence.
Tether Expands Bitcoin Holdings with $700M Strategic Reserve Transfer
Tether has significantly increased its Bitcoin reserves by transferring 7,629 BTC worth $700 million, bringing total holdings to 83,758 BTC. The move comes amid European regulatory uncertainty affecting USDT's market cap, while CEO Paolo Ardoino dismisses concerns as unfounded FUD.
European Stablecoin Regulations: How Tether Scrutiny Could Strengthen Crypto Markets
The EU's MiCA regulation is raising concerns about Tether's compliance, but historical patterns suggest market resilience. Past episodes of Tether uncertainty have led to temporary dips followed by stronger recoveries, potentially creating opportunities across the crypto ecosystem.
Coinbase Halts USDC Rewards Program in Europe to Comply with MiCA Regulations
Coinbase announces the end of its USDC rewards program across Europe by December 2024, adhering to new MiCA regulatory requirements. The decision affects users in EU member states and EEA countries, sparking debate about regulatory restrictions on crypto yield-bearing products.