New MiCA Regulations Could Cause Kraken To Delist USDT

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Haider Jamal
May 18,2024

Kraken is contemplating the removal of Tether (USDT) on its European Union (EU) platform to adhere to upcoming Markets in Crypto-Assets (MiCA) regulations, based on a recent Bloomberg report. The EU is instituting MiCA rules for crypto trading, particularly focusing on stablecoins such as USDT and USDC. These regulations will come into effect in July, likely imposing restrictions on how these stablecoins are offered within the EU.

As the European Banking Authority finalizes the technical standards for MiCA, exchanges like Kraken are preparing for a future where the present variety of stablecoins may not be viable in Europe. Earlier this year, OKX, another significant crypto exchange, already restricted USDT functionality in the EU.

 

Clarity Needed

During an interview on Thursday, Marcus Hughes, the Global Head of Regulatory Strategy for Kraken, mentioned that they are awaiting clearer guidelines on the rules before making a final decision. In light of the MiCA regulations, Tether highlighted the need to concentrate on Euro liquidity for European clients while keeping USDT as a transactional gateway.

Tether CEO Paolo Ardoino has also expressed concerns regarding certain MiCA requirements, indicating that Tether will keep engaging with regulators but does not plan to be regulated under MiCA in the medium term. Moreover, as MiCA regulations aim to create a licensing framework for stablecoin issuers and enforce stricter corporate governance and reserve management standards, Kraken foresees that many stablecoins presently available in the EU will likely be removed in the near future.

 

Tether Is On Board

The scope of the type and number of stablecoins that are offered today in Europe are unlikely to be able to be offered going forward, Hughes stated, before adding that at some point in the future, a lot will depend on which assets are being properly registered within the European Union under the e-money regime.

As of right now, there are no current plans to delist Tether or alter USDT trading pairs. As a leading crypto exchange, Kraken is constantly evaluating their global strategy and operations to ensure that they remain compliant both now and in the future. Regarding MiCA, Kraken claims to be fully committed to following the rules as they continue their mission of accelerating the adoption of cryptocurrencies on a global scale.

 







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January 06,2025

6 Meme Coins With Huge Potential In 2025

The last quarter of 2024 saw numerous meme coins initiating their presales and rapidly gaining popularity. With these presales lasting for months, the first quarter of 2025 offers exciting opportunities to invest in these tokens at launch.

1. $WEPE, $FLOCK, And $BEST

Raising over $40 million, $WEPE is expected to be a major 10x or even 100x token. It offers holders tools and insights similar to Wall Street traders, giving retail investors a chance to compete with crypto whales.

FLOCK is a vote-to-earn platform where users decide the future of the project and earn tokens for voting. In addition, its NFT-based ecosystem offers a gamified metaverse. The presale has raised $8.9 million, with each token priced at $0.0066351.

$BEST is the native token of Best Wallet. The token offers benefits like lower fees and higher staking rewards. The presale has raised $6.5 million, and the price is $0.0235 per token.

4. $SLAP, $RACE, And $LCAI

Catslap combines crypto with a fun clicker game, where users earn tokens by slapping characters. With over 2 billion slaps, $SLAP tokens are currently priced at $0.00343712, and many expect them to rise to $0.00877 by the end of 2025.

Race to a Billion lets users predict outcomes of virtual meme races using $RACE tokens. With $225,000 raised, tokens are priced at $0.00827, and prices are expected to rise soon.

Finally, LCAI combines AI and blockchain, rewarding contributors without compromising network security. The presale has raised $7 million, with the price currently at $0.004875. Prices are projected to hit $0.05 by late 2025.

 

These 6 tokens offer great growth potential in 2025. While $WEPE and $FLOCK stand out, it is important to always do your own research before investing.

 

January 06,2025

Investors Look To January Effect As Santa Rally Fails To Deliver

Despite many investors hoping the annual Santa Rally would help mitigate their losses, it ultimately failed to deliver this year. U.S. markets saw a modest recovery on Friday, with the S&P 500 gaining 1.26%, the Dow Jones Industrial Average rising by 0.8%, and the Nasdaq Composite climbing by 1.77%. However, these gains were not enough to offset earlier losses.

 

Mounting Frustrations

Traditionally, the Santa Rally lifts stocks in the final five trading days of the year and the first two of the new one. But this year, Wall Street missed out, adding to broader market frustrations. Bitcoin (BTC), however, is showing signs of a rebound. After weeks of sharp volatility, the flagship crypto recovered to above $99K.

Retail investors are driving renewed optimism as the new year begins, with some analysts predicting Bitcoin could hit $150,000 by mid-2025 or even $200,000 by year-end, barring further headwinds. As of now, BTC is hovering around $99,500.

 

All Eyes On January

Attention now shifts to the January Effect, a phenomenon where small-cap stocks tend to outperform as investors reset their portfolios and reinvest fresh capital, often through year-end bonuses. Historically, January has delivered stronger returns compared to other months, though its impact has diminished in recent years.

Adding to market uncertainty is the upcoming inauguration of Donald Trump. While the president-elect has signaled pro-crypto intentions, concrete actions will determine market outcomes. Swift policy moves could ignite growth, but delays or mixed signals might spark corrections.

In any case, this seasonal market pattern could also benefit crypto, which has increasingly mirrored traditional equities. With Bitcoin and stocks moving in step, January could offer a fresh boost if trends hold.

 

January 06,2025

PENGU Soars As Rumours Of Pokémon Collaboration Circulate

PENGU has surged over 14% in the past 24 hours, lifting its market cap to $2.57 billion, fueled by speculation of a potential collaboration between Pudgy Penguins and Pokémon. Investors are excited about the possible partnership, especially after the recent airdrop disaster.

 

Massive Potential

A recent tweet by a Pudgy Penguin holder hinted at the rumored partnership, sparking excitement among investors about the potential for a high-profile alliance to boost PENGU in terms of both its brand and overall price.

Meanwhile, technical indicators like the RSI at 64.6 and ADX at 27.3 suggest strong but stabilizing momentum, with PENGU positioned to challenge key resistance at $0.043 and possibly climb to $0.05 or higher.

 

No Confirmation Yet

Pokémon is one of the most popular franchises of all time, as the iconic pocket monsters helped earn $1.9 billion in revenue between March 2023 and February 2024. However, without confirmation of the collaboration, the current hype about Pudgy Penguins collaborating with Pokémon remains speculative, and a reversal could see prices fall to support levels around $0.029 or $0.025.

 

January 06,2025

Cardano Will Focus On Collaboration And Wallet Innovation In 2025

Charles Hoskinson recently shared his vision on what he wants Cardano (ADA) to accomplish in 2025, with Bitcoin-focused projects and Lace Wallet being the main focus. The wallet, currently transitioning users via Nami, is gearing up to introduce new features and broaden its global reach.

 

Partnerships And Governance

In addition to Lace Wallet, Cardano is making strides with Midnight, a privacy-centric blockchain designed for secure data management. The platform is also exploring potential partnerships with Ripple following recent talks with its CTO, David Schwartz.

At the same time, the Voltaire upgrade has launched a new era of decentralized governance, transferring decision-making power to the community, a move that Hoskinson has committed to supporting wholeheartedly. Last year, Cardano also conducted the Chang hard fork update, marking a significant advancement in its governance structure.


Looking Ahead

The roadmap for Cardano includes integrating Bitcoin (BTC) as previously mentioned, with plans to establish a bridge between the Cardano and Bitcoin networks. Partnerships with BitcoinOS and Fair Gate Labs are driving this initiative, with a detailed plan expected by May 2025.

Launched in 2017, Cardano is known for its scientific approach, focusing on security, scalability, and sustainability through peer-reviewed research and evidence-based methods. Cardano uses a Proof-of-Stake (PoS) consensus mechanism called Ouroboros and supports smart contracts. Its native cryptocurrency, ADA, powers transactions and governance within the ecosystem.

 

January 06,2025

Web3 Fundraising Deals - 31st December 2024 To 6th January 2025

Roadzen raised $7.5M through Post-IPO Equity Funding. Roadzen enhances consumer experiences through AI by giving everyone the ability to drive safer, get policies that cover the risk they care about at a price they love, and get back on the road faster in case there is a claim.

 

JAN3 secured $5M in Seed Funding. JAN3 is a Bitcoin technology company focused on expanding access to BTC and financial freedom around the world.

 

CounterShadow acquired $532K in Pre-Seed Funding. CounterShadow focuses on revolutionizing cybersecurity with AI-Driven autonomous responses in real-time.

 

Agrobiomics obtained $7.8M in Grant Funding. Agrobiomics focuses on harnessing natural biologicals to promote crop resilience across a wide suite of crops, enabling farmers grow more for less, sustainably.

 

General Proximity secured $16M in Seed Funding with assistance by Aydin Senkut. General Proximity is pioneering next-gen medication to redefine the future of medicine for all humankind.

 

Orosur Mining Ltd raised $1.8M in Post-IPO Equity Funding. Orosur Mining is a mineral exploration company, focused on the discovery and development of high quality precious and base metal deposits in mining-friendly jurisdictions.

 

Reliance Industries Limited acquired a whopping $15.1B via Post-IPO Debt Funding, with Bank of America providing support. Reliance Industries Ltd. is a Fortune 500 company and the largest private sector corporation in India.

 

O-connect Premium Group Ltd. obtained $2M in Private Equity Funding. O-Connect has an entire ecosystem of products and services which cover the crucial needs and expectations in everyday life such as electronic devices and accessories, office supplies and equipment, beauty and health products, and home improvement tools.

 

Swave Photonics secured $38.5M in Series A Funding with support by SPFIM. Swave Photonics is a fabless semiconductor company which focuses on designing and marketing Holographic eXtended Reality chips, based on proprietary diffractive photonics technology.

 

Rembrand raised $23M in Series A Funding with assistance by Super{set}. Rembrand is focused on creating new ways for advertisers, creators, and viewers to engage with one another in a non-interruptive way that supports the growing video advertising market.

January 05,2025

The Most Pro Crypto Congress In History, According To Ripple CEO

Ripple CEO Brad Garlinghouse has called the 119th Congress the most pro-crypto in U.S. history, sparking hope for better regulations and blockchain innovation as 2025 gets underway.

 

A Fresh Start

With Republicans firmly in control and big changes expected in the U.S. SEC, the crypto industry is optimistic about a fresh start. However, Garlinghouse stresses that the U.S. must act quickly to maintain its global edge in digital innovation.

Meanwhile, the crypto community feels its interests will now be better protected, especially after both Gary Gensler and Caroline Crenshaw were forced to resign by President-elect Donald Trump. Ripple is currently involved in a lengthy legal battle with the SEC over the classification of its XRP token. Garlinghouse is hopeful that the shift in Congress will improve their situation.

 

China Vs U.S.

The crypto industry has heavily invested in the 2024 elections, supporting over 200 pro-crypto lawmakers. Representative French Hill, for example, has pledged to focus on legislation like the FIT21 Act and stablecoin rules to ensure industry clarity.

Garlinghouse criticized Biden administration policies, like Operation Chokepoint 2.0, which made it harder for crypto companies to work with banks. However, he is hopeful the new Congress will create a more welcoming environment, especially as China continues to expand its tech influence in developing markets.

 

January 05,2025

Bitcoin Looks To Regain Momentum As DOGE And SUI Surge

Bitcoin (BTC) continued to surge in the past 24 hours, reaching a multi-week high of $99,000 before retracting by around $1,000. Altcoins have also posted significant gains, with Ethereum (ETH) trading above $3,500, and Dogecoin (DOGE) soaring by double digits.

Bitcoin Nears $99K

After a mid-December crash, Bitcoin struggled to recover, dropping to a monthly low of $91,300 on December 30th. However, the bulls stepped in and pushed the price up to $96,000 by December 31st.

Following a brief pullback to $93,000, BTC climbed further, reaching over $97,000 on January 2nd and peaking at $99,000. It now sits around $97,000. Bitcoin saw its market cap rise to $1.940 trillion, while its dominance over altcoins decreased to 53.3%.

Meanwhile, ETH surged 4.5%, surpassing $3,500. Other altcoins like SOL, XRP, ADA, AVAX, TRX, and TON also saw gains, while DOGE jumped 14% to nearly $0.39. SUI outperformed everyone else through, rising 17% and hitting a new all-time high above $5. The total crypto market cap increased by around $100 billion, reaching $3.640 trillion.

 

Other Markets

Bond spreads are being closely monitored, with five key figures in focus as investors assess how low they can go. Meanwhile, Federal Reserve Governor Adriana Kugler highlighted that the fight against inflation is ongoing, a view shared by Fed officials Daly and Kugler. The December U.S. jobs report will also cap a year of modest hiring trends.

Elsewhere, Asian stock markets may be swayed by Chinese stimulus, tariffs, and the actions of the Fed. Guyana is removing shipwrecks in the Essequibo region to improve safety for oil vessels. Shawbrook owners are considering an IPO in early 2025, while Wall Street showed a more cautious outlook as 2025 gets underway.

Finally, Vanguard plans its first actively managed ETFs in two years while municipal bond sales continue to surge, with buyers hoping for a boost soon. Meanwhile, the DAX index has begun trading in 2025, and zero-day options are growing in popularity on the S&P 500.

 

January 04,2025

Binance Continues Global Expansion By Obtaining Brazilian License

Binance has secured its 21st global regulatory license after receiving approval by the Brazilian Central Bank. This approval enables Binance to expand its global services while complying with local financial regulations.

 

A Crypto Leader

Binance CEO Richard Teng emphasized just how important Brazil is in the global crypto landscape, while Guilherme Nazar, Head of Latin America, highlighted the achievement as a sign of Binance being fully committed to regulatory compliance and excellence.

In any case, Brazil is becoming a leader in crypto regulation, ranking 10th on the Global Crypto Adoption Index by Chainalysis while also developing frameworks for asset segregation and stablecoins.

 

Room For Improvement

Besides Brazil, Binance has also gained regulatory approvals in Argentina, India, and Kazakhstan. The company also focuses on robust anti-money laundering (AML) measures and expanded its compliance team by 34%, now employing over 1,000 professionals worldwide.

Despite its regulatory progress, Binance still faces various legal challenges, including lawsuits by ASIC in Australia in addition to tax issues in India, along with accusations of internal misconduct. Nevertheless, the crypto exchange is enjoying continued regulatory success across 21 jurisdictions.

 

January 04,2025

Solana Embraces Meme Coins But Remains Skeptical About AI Agents

While Solana (SOL) is widely known as the home for meme coins, its founders have surprisingly been hesitant to accept AI agents. They have also expressed concerns about the increasing maximum extractable value (MEV) issue which continues to cause problems for the network.

 

Memecoins And AI Drive Inflows

Out of 42 Solana founders, 76% viewed meme coins positively, while 16% described AI agents as overrated. When asked about alternatives to Solana, most founders indicated they would choose either Base, Coinbase, or Sui.

The total value locked (TVL) for Solana increased to nearly $8.5 billion in 2024, with retail traders speculating on Solana-based meme coins and AI tokens. The meme coin market surged to $120 billion, with Pump.fun playing a key role. Meanwhile, AI agent tokens reached $16 billion in market capitalization, with several Solana-based meme coins like Fartcoin gaining significant traction.

 

Growing MEV Concerns And The Winternitz Vault

Over 20% of the aforementioned founders identified MEV, particularly sandwiching, as the single biggest issue plaguing Solana right now as it increases transaction costs and can lead to various inefficiencies. Last year, Solana validators earned more through MEV than Ethereum (ETH), coinciding with a rise in transaction fees.

Meanwhile, in order to combat potential quantum computing risks, Solana recently introduced the Winternitz Vault, which creates new keys for each transaction and protects against quantum attacks. The vault is an opt-in feature, not part of network-wide updates.

 

January 03,2025

Google Goes All In On AI By Launching Mariner

Google looks to dominate the AI industry with the official launch of Mariner, a tool built on the Gemini 2.0 platform. Mariner helps users with tasks like browsing spreadsheets, shopping online, and utilizing services, all while keeping the user in control.

 

A Vital Component

Powered by Gemini 2.0, a neural network that processes vast datasets, Mariner can mimic human-like actions, such as pressing buttons to trigger tasks. Google CEO Sundar Pichai described Mariner as a step toward a universal assistant.

Although still experimental, its integration as a Chrome extension highlights its importance to Google and their AI strategy. Gemini 2.0 also supports other Google projects like the Gemini chatbot and AI tools in Google Search.

 

Still A Ways To Go

However, Mariner faces potential regulatory challenges, especially by the U.S. Justice Department. Additionally, Mariner is not yet flawless, with project manager Jaclyn Konzelmann acknowledging that its accuracy remains a work in progress.

The launch of Mariner, coupled with Google releasing their Willow Quantum Chip, reflects an overall ambition by the company to transform user interactions with technology. Meanwhile, other tech companies and start-ups, including OpenAI and Anthropic, are also developing their own AI agents.

 

January 03,2025

Leaked Code Suggests X Money Could Launch Sooner Than Expected

X Money is expected to launch soon, with speculation increasing after the leak of a software code tied to the platform, suggesting a potential debut in the United States, despite lacking full state approvals.

 

Crypto To Play A Vital Role

Even though it lacks the aforementioned approvals, X Money has nevertheless secured money transmitter licenses in 39 states and plans to expand nationwide. A leaked screenshot revealing the message X Money Is Not Available In Your State has led analysts like Alex Finn to predict that the platform may launch without approval by all 50 states.

X Money will also allow content creators to receive tips directly via users, and Finn believes crypto could play a significant role in facilitating payments for the platform.

 

Some States Still Hesitant To Grant Approval

The service is expected to support crypto as well, aligning with Elon Musk and his history of accepting Bitcoin (BTC) and Dogecoin (DOGE) in his ventures.  While CEO Linda Yaccarino confirmed that X Money will launch in 2025, some states, such as Alaska, New York, and Wisconsin, might not be included initially due to pending approvals.

The speculation is further fueled by Musk and his endorsement of BTC and DOGE, with Tesla already supporting Dogecoin payments and holding over $1 billion in Bitcoin. Elon has also stated on multiple occasions that he plans to make crypto a vital part of the new Trump administration in 2025 and beyond.

 

January 03,2025

SHIB Rises Above The Ichimoku Cloud As Investors Turn Bullish

Shiba Inu (SHIB) has already emerged as one of the standout performers in 2025. Earlier this week, the meme crypto gained 9%, trading at $0.0000228, marking its highest price point so far this year. Despite this recent gain, SHIB is still trading at a notable 22% discount compared to the price of over $0.000029 it reached just a month ago, with many buying the dip.

 

A Positive Trend For SHIB

Notable market analyst Cantonese Cat highlighted an important shift on the two-week chart for Shiba Inu. The meme coin recently broke above the Ichimoku Cloud, a significant technical indicator commonly used to identify bullish trends.

A similar breakout occurred in December 2024, pushing Shiba Inu to a seven-month high above $0.000033. However, following this surge, the token experienced a correction, dropping to a low of $0.000018 by the end of the month.

Cantonese Cat confirmed this retracement, noting that after surpassing the resistance of the Ichimoku Cloud, SHIB retraced to the upper boundary of the cloud, establishing it as a new support level. This movement signals a return of bullish momentum for Shiba Inu.

 

Key Resistance Levels

The upper boundary is now functioning as a support zone for Shiba Inu, and analysts believe that maintaining this level could pave the way for further price increases. Cantonese Cat has identified the next resistance level for SHIB at approximately $0.000026. Should the token break through this barrier, it could potentially target the $0.000033 level once again.

Building on this optimistic outlook, analyst Javon Marks has set a more ambitious price target for Shiba Inu, forecasting a rise to $0.000081. This would represent nearly a threefold increase compared to its current price. Marks has consistently highlighted this level as significant, noting that it marks the point at which Shiba Inu's bullish momentum stalled during the 2021 cycle.