Tether to Introduce U.S.-Backed Stablecoin by 2025

Monicah W

The post Tether to Introduce U.S.-Backed Stablecoin by 2025 appeared first on Coinpedia Fintech News

Tether is set to launch a U.S.-based stablecoin by the end of this year, with CEO Paolo Ardoino strengthening relationships with Washington. This move comes as the political landscape shifts under Trump’s influence, paving the way for more crypto-friendly regulations. The launch of Tether’s stablecoin marks a significant step in expanding its offerings and solidifying its presence in the global crypto market.

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Altcoin Season Delayed? Gensler Says Only Bitcoin Will Survive the Test of Time

The post Altcoin Season Delayed? Gensler Says Only Bitcoin Will Survive the Test of Time appeared first on Coinpedia Fintech News

The crypto market had a mixed day on Thursday after US Fed Chair Jerome Powell warned that new tariffs could slow economic growth and push inflation higher. Bitcoin went up slightly to $84,312, and Ethereum also gained a bit to $1,596. The overall crypto market cap rose just a little to $2.64 trillion. Some altcoins like XRP, Solana, Dogecoin, Cardano, and Chainlink saw good gains of up to 4%, but others like BNB, Tron, Sui, Litecoin, and NEAR dropped by as much as 3%. 

Looking at the current scenario under Trump’s leadership, Former SEC Chair Gary Gensler has once again drawn a sharp line between Bitcoin and the rest of the crypto market, saying Bitcoin is here to stay while most altcoins are likely to fade away.

In a recent CNBC interview, Gensler said Bitcoin’s strength lies in its global appeal. He pointed out that there’s strong interest from people all over the world comparing its endurance to gold. According to him, Bitcoin stands out like one of the “precious metals” humans have always been fascinated by, which could explain why it may survive the test of time.

Altcoins? Mostly Hype, Says Gensler

Gensler warned that most altcoins lack solid fundamentals. He believes the crypto market relies heavily on sentiment suggesting that nearly 100% of crypto assets trade on hype rather than intrinsic value. Because of this, many of these assets are unsustainable and will likely lose value over time.

Regulation, Risk, and Real Value

Without naming specific tokens, Gensler said investors should focus on the fundamentals of each project before investing. He emphasized that the real problem is how sentiment-driven the space has become, with little substance to back most altcoins. This aligns with his tough stance on crypto during his time at the SEC from 2021 to 2025, where he led enforcement actions against various crypto firms and exchanges.

Gensler Doesn’t Own Crypto—But Still Sees Bitcoin’s Future

Interestingly, despite his belief in Bitcoin’s longevity, Gensler revealed he doesn’t own any crypto himself. Still, he acknowledged Bitcoin’s resilience and likened it to gold once again. In his view, only a select few assets like Bitcoin will earn global recognition and last in the long run.

Gensler’s comments come at a time when Bitcoin continues to be positioned as a digital store of value, while the broader altcoin space faces regulatory pressure and investor skepticism.

Altcoin vs Bitcoin 

Right now, the crypto market is in what’s called a Bitcoin Season, meaning Bitcoin is performing better than most altcoins. Bitcoin’s dominance is high at around 62.5%, which is close to a four-year record. Meanwhile, the Altcoin Season Index is at just 16, showing that only a small number of altcoins have outperformed Bitcoin in the last 90 days. Although Bitcoin is leading, history shows that strong BTC dominance often comes just before altcoins start rallying, so traders are keeping a close eye on the charts for any signs of a shift.

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The post Altcoin Season Delayed? Gensler Says Only Bitcoin Will Survive the Test of Time appeared first on Coinpedia Fintech News
The crypto market had a mixed day on Thursday after US Fed Chair Jerome Powell warned that new tariffs could slow economic growth and push inflation higher. Bitcoin went up slightly to $84,312, and Ethereum also gained a bit to $1,596. The overall crypto market cap rose just a little to $2.64 trillion. Some altcoins …

Cronos (CRO) Surges 10% As Trump Media Partners with Crypto.com for Altcoin ETFs

Cronos rallied 10% after Crypto.com announced a partnership with Trump Media to create new altcoin ETFs. Today’s announcement is a binding agreement that builds on earlier relationships.

​CRO is the native cryptocurrency of the Cronos blockchain, developed by Crypto.com. It serves as a utility token within the Crypto.com ecosystem, facilitating various functions such as staking, transaction fee payments, and accessing benefits across the exchange’s services.​

Crypto.com and Trump Media Officially Partner

Last month, Crypto.com announced a non-binding partnership with Trump Media. This saw increasing market interest in the token, but also attracted harsh criticism.

Specifically, the firm re-issued 70 billion CRO tokens that were “permanently burned” in 2021. The two companies just announced a binding agreement, but it caused smaller gains:

cronos (CRO) price chart
Cronos (CRO) Daily Price Chart. Source: TradingView

This new agreement between Crypto.com and Trump Media seems substantially similar to the last one. The two firms committed to launching new ETFs based on unspecified digital assets and “securities with a Made in America focus,” specifically mentioning energy firms.

Crypto.com has expressed interest in a CRO ETF, making it a likely target for this partnership.

“Crypto.com is the leading platform to bridge crypto and traditional finance, and this agreement is a testament to those capabilities. This partnership gives the Trump Media ETFs global distribution powered by the Crypto.com platform. It’s a win for Trump Media, Crypto.com, CRO, and Yorkville America Digital,” said Kris Marszalek, Co-Founder and CEO of Crypto.com.

On the surface level, it may look like SEC approval is the largest hurdle facing Trump Media and Crypto.com. The Commission has been flooded with applications since Trump took office, but no new altcoin ETFs have been approved yet.

As a report from yesterday alleged, various crypto firms have received tangible regulatory breakthroughs since donating to Trump’s Inauguration.

Several firms (including Crypto.com) had SEC investigations closed, while others, like Galaxy Digital, got the Commission’s approval for key business ventures.

Of course, Trump’s Presidency has promised a sweeping tide of pro-crypto regulations, so it could be unfair to single out specific firms as beneficiaries.

Further, an ETF approval is a big deal, and even a friendlier SEC might not give it easily. Whether or not the markets think the SEC would fast-track this product has no bearing on the actual outcome.

As ETF analysts have outlined, the entire market is saturated right now. There are 72 active proposals for new altcoin ETFs, but Bitcoin controls 90% of the crypto ETF market.

If a CRO ETF wins approval, it may be competing with a huge wave of newcomers over tiny chunks of BTC’s market share. Perhaps investors don’t see it as a likely option.

Overall, Trump and Crypto.com are doubling down on their partnership, and it could have big long-term implications. Any of the aforementioned factors (or a mix of several) might explain this outcome.

The post Cronos (CRO) Surges 10% As Trump Media Partners with Crypto.com for Altcoin ETFs appeared first on BeInCrypto.

XRP Lawsuit: Why the US SEC Is Delaying the Ripple Case?

XRP Lawsuit: Why the US SEC Is Delaying the Ripple Case?

The Securities and Exchange Commission’s (SEC) decision to drop lawsuits against several major crypto players has left the Ripple case as a notable exception. Recently, the US SEC dismissed litigations against Kraken, Cumberland, and Consensys, sparking curiosity about the status of the XRP lawsuit. Fox Business journalist Eleanor Terrett took to X to share insights on the possible reasons behind the SEC’s delay in the Ripple case.

Let’s take a closer look at the Ripple case and the SEC’s decision to exclude the platform while dropping lawsuits against other crypto companies.

Is US SEC Further Delaying the XRP Lawsuit?

In her recent X post, Fox Business reporter Eleanor Terrett shared insights on the possible reasons for the SEC’s delay in the XRP lawsuit. While the SEC intentionally missed Ripple while dismissing cases against other major firms, Terret stated that the move wasn’t surprising.

Emphasizing the unique circumstances of the Ripple case, Terrett stated, “No Ripple here but I’m not entirely surprised because, again, it is slightly different to these other cases.” The journalist pinpointed the complexities surrounding the XRP lawsuit unlike other crypto lawsuits.

The SEC’s approach to resolving the XRP lawsuit differs from other crypto cases due to an existing injunction. To move forward, the SEC must request Judge Torres to lift this injunction, allowing them to proceed with voting on the withdrawal of the appeal and other related matters.

SEC Dismisses Kraken, Cumberland, Consensys Cases

In a recent development, the US SEC officially announced the dismissal of the crypto lawsuits involving Kraken, Cumberland, and Consensys. This decision comes after the SEC filed a joint stipulation with each company. The filing agrees to dismiss the cases with prejudice, meaning they cannot be refiled.

It is noteworthy that the dismissal comes without any financial implications for the crypto firms. Dropping the lawsuits, the Commission underscored the irrelevance of the cases. However, the regulator clarified that its decision does not imply a change in its position on the underlying issues of the lawsuits.

As highlighted by Terrett, these dismissals do not impact or influence the ongoing XRP lawsuit. Meanwhile, the Ripple lawsuit is expected to follow specific procedures, which may lead to a delay in its conclusion. The settlement process for the Ripple lawsuit involves several steps. This includes the SEC’s request to lift the existing injunction and the subsequent voting on the withdrawal of the appeal.

Recently, attorney Fred Rispoli shared a possible timeline for the Ripple case settlement. He stated that the lawsuit will end within the next 60 days.

How This Delay in the Ripple Lawsuit Settlement Impact XRP Price?

Amidst the complexities and uncertain timeline surrounding the Ripple case settlement, the XRP price faces major corrections. As of press time, XRP is trading at $2.21, with a 5.38% dip in a single day. Over the past week and month, XRP has plummeted by 6.7% and 2.2%, respectively.

Despite this negative trend, a positive sentiment persists among investors, as indicated by a 17.6% surge in trading volume, currently at $3.85 billion. This sparks a bullish prediction for XRP, with analysts foreseeing its ascendance to $11.

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