The DeFi and crypto space continues to evolve rapidly, with significant events each week impacting the market. Let's look at the key news from this week.
Crypto.com to Delist USDT for EU Users
Crypto.com announced plans to delist USDT for EU users starting January 31, 2025, in line with new MiCA regulations. USDT purchases will be suspended this month, and users must convert holdings by March 31. Unconverted funds will be automatically transferred to MiCA-compliant assets.
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 and low-cost transactions within the Bitcoin ecosystem, leveraging its security. This is a significant milestone for stablecoins in the Bitcoin market.
Lawsuit against Pump.fun and Sei Foundation's New Fund
Pump.fun faces a class action lawsuit in New York over claims of $500M in fees from unregistered securities. Plaintiff Diego Aguilar alleges losses from tokens like Fwog and Griffain, marketed with exaggerated profit promises. Concurrently, the Sei Foundation launched a $65M venture fund to support decentralized science projects, investing $100,000 to $2 million in startups utilizing blockchain for transparent research.
These developments highlight the dynamic shifts in the DeFi and crypto world. Amidst new regulations, technological advancements, and legal challenges, it's crucial for market participants to stay updated with the latest news.
