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Tether Legal Chief Retires Amid Regulatory Uncertainty in Europe

Stuart Hoegner, the general counsel of Tether and Bitfinex, has stepped down from his role and will be succeeded by Michael Hilliard, who has worked closely with Hoegner for several years. In a statement shared with Cointelegraph on Jan. 2, Tether announced Hoegner’s retirement and confirmed Hilliard as the new general counsel. “Michael’s deep understanding of both companies’ operations, coupled with his strategic approach to legal and regulatory challenges, has been critical to advancing both Tether and Bitfinex’s mission,” the company stated. Uncertainty Around USDT Compliance in Europe The leadership change comes as Tether faces ambiguity regarding its compliance with the European Union’s Markets in Crypto-Assets (MiCA) regulations, which took effect on Dec. 30. The new rules have left stablecoin issuers, including Tether, in a gray area. “No regulators have explicitly stated that USDT isn’t compliant, but this does not mean that it is,” Juan Ignacio Ibañez, a member of the Technical Committee of the MiCA Crypto Alliance, told Cointelegraph. The European Securities and Markets Authority (ESMA) has not clarified whether USDT is considered a restricted stablecoin under MiCA. While Coinbase delisted USDT in mid-December to comply with MiCA, the stablecoin continues to trade widely in the EU as exchanges await further guidance. USDT Market Cap Declines USDT’s market cap dropped from $138.8 billion on Dec. 30, 2024, to a weekly low of $136.9 billion on Jan. 1, marking its steepest decline since the FTX collapse in November 2022. Despite this, USDT remains dominant in the stablecoin market, with a share exceeding 65% in the $210 billion sector. Additionally, on Dec. 30, Tether transferred nearly $780 million worth of Bitcoin into its corporate reserves, aligning with its commitment to allocate up to 15% of net profits toward Bitcoin purchases. U.Today

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Top-100 Solana-Based Memecoin Could Explode by Up to 840% From Current Level, Says Economist Henrik Zeberg

Economist Henrik Zeberg says that the Solana ( SOL )-based memecoin dogwifhat ( WIF ) is mirroring Bitcoin’s ( BTC ) setup from November. In a new post on the social media platform X to this 172,200 followers, Zeberg says WIF could leap to the $19 range. “Just before the large run of BTC in November we saw the same technical strength as we currently see in WIF – Positive Divergence in RSI – MACD about to Cross in a Bullish manner – RVGI moving higher All this while price has been pushing into a Descending Wedge – in larger wave 2. TRANSLATION: WIF is about to explode higher in larger wave 3 – in an extended move which may reach as high as 18-19 USD in this next move!” Source: Henrik Zeberg/X WIF is trading for $2.02 at time of writing, up 13% in the last 24 hours. A move to $19 would represent a percentage increase of approximately 840%. Yesterday, Zeberg said the crypto market is suddenly flashing bullish for altcoins while warning of worsening macro conditions. “We have had the first initial push in wave one of the BTC Dominance Index. Hardly noticeable! It will be in wave three (which starts now) that we really see the big push in altcoins. And it only ends after another three waves from here in wave three, wave four, wave five. When? We will have to see! Most importantly is to be on the right side of the trade.” Don`t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Follow us on X , Facebook and Telegram Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: Midjourney The post Top-100 Solana-Based Memecoin Could Explode by Up to 840% From Current Level, Says Economist Henrik Zeberg appeared first on The Daily Hodl . U.Today