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European Exchanges Delist Tether’s UDST
Due to the upcoming Markets in Crypto-Assets Regulation (MiCA) in the European Union, European exchanges have begun delisting Tether’s USDT stablecoin.
However, industry commentators are concerned that the move will severely hamper the development of cryptocurrencies in Europe, especially while the US market is booming. Recently, the European sector has been lagging behind in adopting cryptocurrencies compared to previous years.
Crypto Venture Capital Funding in the EU Is Collapsing. Source: Bloomberg
The company, for its part, has been bracing for the storm. Tether has been pulling back from crypto operations in the EU while investing in MiCA-compliant stablecoins.
In addition, the company has made significant gains from some US investments and partnerships, even earning some political favors. In other words, MiCA may hurt European cryptocurrencies more than Tether.
Ripple Donates $5 Million to Trump’s Inauguration
Ripple has pledged to donate $5 million in XRP tokens to President-elect Donald Trump’s inauguration day. It’s the largest donor, but other cryptocurrency companies like Kraken and Binance have also donated, bringing the total to around $8 million.
