As the DeFi and crypto space continues to evolve at a rapid pace, it's essential to stay informed about the latest developments and trends. Our weekly recap provides a concise yet comprehensive overview of the most significant news and trends in the DeFi and crypto space.
Crypto.com to Delist USDT for EU Users by January 31
Crypto.com will delist Tether’s USDT for European users starting January 31, 2025, in compliance with the EU’s MiCA regulations. USDT purchases will be suspended this month, and users must convert holdings by March 31. Unconverted funds will be automatically transferred to a MiCA-compliant asset.
Tether Integrates USDT into Bitcoin Ecosystem
Tether has integrated USDT with Bitcoin’s base layer and Lightning Network using the Taproot Assets protocol. This move enables faster, low-cost transactions while leveraging Bitcoin’s security, marking a significant step for stablecoins on the Bitcoin network.
Pump.fun Faces Lawsuit Over $500M in Fees
Memecoin platform Pump.fun is facing a class action lawsuit in New York, alleging it generated $500M in fees from unregistered securities. Filed on Jan. 30, 2025, the lawsuit targets Baton Corporation Ltd and executives Alon Cohen, Dylan Kerler, and Noah Tweedale. Plaintiff Diego Aguilar claims financial losses from tokens like Fwog and Griffain, which he says were aggressively marketed with exaggerated profit promises.
These developments highlight the scale and pace of changes in the DeFi and crypto world, unveiling both new opportunities and possible risks for market participants.
