Tether’s rivals are exerting more and more extra stress to push the world’s largest stablecoin issuer out of the crypto market, together with political stress aimed toward decreasing the agency’s main market share.
Within the wider crypto markets, analysts are suggesting that almost all cryptocurrencies received’t see a widespread “altcoin season” rally in 2025, and solely choose tokens with sustainable investor curiosity and revenue-generating fashions will be capable of outperform the remainder of the tokens.
Paolo Ardoino: Rivals and politicians intend to “kill Tether”
Tether’s rivals are working to push the world’s largest stablecoin issuer out of the crypto market, in response to the corporate’s CEO, Paolo Ardoino.
Tether, the issuer of the world’s largest stablecoin, USDt (USDT), has a market capitalization of greater than $142 billion — over twice as massive as Circle’s USD Coin’s (USDC) $56 billion, in response to Cointelegraph knowledge.
Nevertheless, the stablecoin issuer faces mounting stress from competing companies and politicians, Ardoino mentioned in a Feb. 25 X post.
“Whereas our rivals’ enterprise mannequin needs to be to construct a greater product and even greater distribution community, their actual intent is ‘Kill Tether.’ Each single enterprise or political assembly that they’ve culminates with this intent.”
“I’ll go away it to you to outline a competitor attempting to make use of lawfare to kill an opponent, as a substitute of specializing in higher merchandise,” Ardoino added.
Tether will proceed specializing in its mission to advertise world monetary inclusion, notably in underdeveloped economies, Ardoino mentioned, noting that USDT is utilized by greater than 400 million folks and positive aspects 35 million new wallets every quarter.
Ardoino’s feedback adopted Tether’s exclusion from the list of 10 firms accepted to challenge stablecoins underneath the European Union’s Markets in Crypto-Property (MiCA) regulatory framework.
Altseason 2025: “Most altcoins received’t make it,” CryptoQuant CEO says
Most cryptocurrencies past Bitcoin and Ether could not expertise a widespread “altcoin season” rally in 2025, however initiatives with robust fundamentals and revenue-generating fashions may outperform the broader market, in response to Ki Younger Ju, the founder and CEO of CryptoQuant.
“Most altcoins received’t make it” through the 2025 market cycle, Ju wrote in a Feb. 25 X publish.
Cryptocurrencies with potential exchange-traded fund (ETF) approvals, sturdy revenue-generating fashions and sustained investor consideration could outperform the remainder of the market, Ju mentioned. Nonetheless, “The period of all the pieces pumping is over,” he added.
Supply: Ki Young Ju
Ju’s outlook comes as 24% of the 200 largest cryptocurrencies have fallen to their lowest ranges in additional than a 12 months, sparking hypothesis about attainable market capitulation.
Prime 200 cryptocurrencies. Supply: Jamie Coutts
The present downturn could sign an incoming market capitulation, in response to Juan Pellicer, senior analysis analyst at crypto intelligence platform IntoTheBlock.
“The current market correction, with vital liquidations (particularly in property like Solana) and a drop in whole crypto market cap to $3.13 trillion, factors towards attainable capitulation as overleveraged positions are flushed out,” Pellicer informed Cointelegraph.
Bybit hacker launders $335M as funds proceed to maneuver
The hacker behind the $1.4 billion Bybit exploit has laundered greater than $335 million in digital property, with investigators persevering with to trace the motion of stolen funds.
Crypto investor sentiment was hit by the largest hack in crypto history on Feb. 21, when Bybit lost over $1.4 billion in liquid-staked Ether (STETH), Mantle Staked ETH (mETH) and different digital property.
Onchain knowledge exhibits that the hacker has moved 45,900 Ether (ETH) — value about $113 million — up to now 24 hours, bringing the overall quantity laundered to greater than 135,000 ETH, valued at $335 million.
That left the hacker with about 363,900 ETH, value round $900 million, according to pseudonymous blockchain analyst EmberCN.
US lawmakers advance decision to repeal “unfair” crypto tax rule
US lawmakers within the Home of Representatives have superior a decision to repeal the “DeFi dealer rule,” which requires brokers to report digital asset transactions to the Inside Income Service.
Set to take impact in 2027, the IRS dealer regulation was approved on Dec. 5 and would expand existing reporting requirements to incorporate decentralized exchanges. It will require brokers to reveal gross proceeds from sales of cryptocurrencies, together with data concerning the taxpayers concerned within the transactions.
Throughout its Feb. 26 committee markup, the Home Methods and Means Committee, a key group inside the Home that offers with monetary points, voted 26 to 16 to advance the resolution.
Supply: Ways and Means Committee
In an announcement, Miller Whitehouse-Levine, the CEO of DeFi advocacy group the DeFi Education Fund, mentioned the rule is an “illegal and unconstitutional overreach” and wanted to be overturned to “shield Individuals’ freedom of selection in how they transact.”
MetaMask provides fiat off-ramp for 10 blockchains to enhance crypto accessibility
Ethereum-based cryptocurrency pockets MetaMask is increasing its fiat off-ramp companies to assist 10 further blockchain networks. The transfer, in partnership with funds supplier Transak, is aimed toward simplifying the method of changing digital property into conventional forex.
MetaMask customers had been beforehand compelled to swap property into Ether (ETH) tokens earlier than with the ability to convert them into fiat cash, including further steps and transaction charges.
Nevertheless, as a part of MetaMask’s ongoing partnership with Transak, the pockets will add assist to 10 new networks: the Arbitrum mainnet, Avalanche C-Chain mainnet, Base, BNB Chain, Celo, Fantom, Moonbeam, Moonriver, Optimism and Polygon.
The primary 4 tokens to obtain quick off-ramping assist embrace ETH on Ethereum, ETH on Optimisim, BNB (BNB) and the Polygon (POL) token. Help for the extra six networks will likely be steadily rolled out.
“By increasing off-ramping capabilities with Transak, MetaMask is eradicating limitations between crypto and conventional forex, permitting customers to transform a broader vary of tokens on to money,” mentioned Lorenzo Santos, senior product supervisor at Consensys.
DeFi market overview
In line with knowledge from Cointelegraph Markets Pro and TradingView, a lot of the 100 largest cryptocurrencies by market capitalization ended the week within the purple.
The Solana-based decentralized change Raydium’s (RAY) token fell over 55% because the week’s greatest loser, adopted by the Lido DAO (LDO) token, down over 34% on the weekly chart.
Whole worth locked in DeFi. Supply: DefiLlama
Thanks for studying our abstract of this week’s most impactful DeFi developments. Be part of us subsequent Friday for extra tales, insights and training concerning this dynamically advancing house.
