The DeFi and cryptocurrency sectors continue to rapidly evolve. Here is a summary of this week's major events and trends.
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. The move follows Crypto.com’s MiCA licensing in Malta.
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 $500M Lawsuit and Alleged Violations
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 events reflect significant changes and developments in the DeFi and cryptocurrency sector, emphasizing the need to track ongoing trends for informed decision-making.
