Tether’s Competitors Exert Increasing Pressure to Push Out of Crypto Market
Paolo Ardoino: Competitors and Politicians Intend to "Kill Tether"
Tether, the issuer of the world’s largest stablecoin, USDT, faces mounting pressure from competing firms and politicians, according to CEO Paolo Ardoino. The company’s market capitalization stands at over $142 billion, more than twice that of Circle’s USD Coin (USDC), according to Cointelegraph data.
Altseason 2025: "Most Altcoins Won’t Make It," CryptoQuant CEO Says
Most cryptocurrencies beyond Bitcoin and Ether may not experience a widespread "altcoin season" rally in 2025, but projects with strong fundamentals and revenue-generating models could outperform the broader market, according to Ki Young Ju, founder and CEO of CryptoQuant.
Bybit Hacker Launders $335M as Funds Continue to Move
The hacker behind the $1.4 billion Bybit exploit has laundered more than $335 million in digital assets, with investigators continuing to track the movement of stolen funds. The recent market correction, with significant liquidations and a drop in total crypto market cap to $3.13 trillion, points toward possible market capitulation, according to Juan Pellicer, senior research analyst at crypto intelligence platform IntoTheBlock.
US Lawmakers Advance Resolution to Repeal "Unfair" Crypto Tax Rule
US lawmakers in the House of Representatives have advanced a resolution to repeal the "DeFi broker rule," which requires brokers to report digital asset transactions to the Internal Revenue Service. The IRS broker regulation was approved on December 5 and would expand existing reporting requirements to include decentralized exchanges.
MetaMask Adds Fiat Off-Ramp for 10 Blockchains to Improve Crypto Accessibility
MetaMask is expanding its fiat off-ramp services to support 10 additional blockchain networks, simplifying the process of converting digital assets into traditional currency. The move, in partnership with payments provider Transak, aims to improve crypto accessibility.
DeFi Market Overview
According to data from Cointelegraph Markets Pro and TradingView, most of the 100 largest cryptocurrencies by market capitalization ended the week in the red. The Solana-based decentralized exchange Raydium’s (RAY) token fell over 55% as the week’s biggest loser, followed by the Lido DAO (LDO) token, down over 34% on the weekly chart.
Conclusion
Thanks for reading our summary of this week’s most impactful DeFi developments. Join us next Friday for more stories, insights, and education regarding this dynamically advancing space.
FAQs
Q: What is Tether’s market capitalization?
A: Over $142 billion
Q: What is the current state of the cryptocurrency market?
A: Most of the 100 largest cryptocurrencies by market capitalization ended the week in the red.
Q: What is the DeFi market overview?
A: According to data from Cointelegraph Markets Pro and TradingView, most of the 100 largest cryptocurrencies by market capitalization ended the week in the red.
