bella76brown

@bella76brown

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@austinemma9109

Stuart Hoegner, general counsel of Tether and Bitfinex, has retired from his role as legal chief at the two firms and will be replaced by Michael Hilliard, who has been working alongside Hoegner for several years.

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sophiasmith77609

@sophiasmith77609

“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,” wrote the firm in the statement.

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While there has been murky guidance on the matter of Tether’s legal status in Europe, US crypto exchange Coinbase delisted USDT in mid-December, citing compliance with MiCA.

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lucasjohnson0988

@lucasjohnson0988

Despite Coinbase’s move to delist USDT, the stablecoin has continued trading across the EU, with many exchanges still awaiting further clarity from European authorities on USDT’s compliance with MiCA.

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@browncathy7611

Bankman-Fried was later convicted of seven felony counts and sentenced to 25 years in prison, but he has filed an appeal.

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Former Binance CEO Changpeng Zhao — another significant industry figure — pleaded guilty to one charge and served four months in prison in 2024.

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@jonesjenny8290

As of Jan. 2, USDC’s circulating supply is approaching $44 billion, nearly double the 2023 low of less than $24 billion, according to CoinGecko.

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Meanwhile, holdings are more evenly distributed among blockchain networks as users migrate beyond Ethereum, Blockworks data analytics manager Dan Smith said in a Jan. 2 post on the X platform.

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@danawilson4768

The shift reflects increasing onchain activity and the rise of alternative layer-1 networks such as Solana and Hyperliquid. Analysts expect the trend to continue, with USDC’s market capitalization potentially doubling this year.

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As of Jan. 2, approximately 65% of USDC supplies are on Ethereum, 10% are on Solana, and roughly 15% span Base and Arbitrum — both Ethereum layer 2s — as well as Hyperliquid, a layer 1 for low-latency trading.

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In 2023, USDC remained heavily concentrated on Ethereum, which held 85% of the stablecoin’s circulating supply, Smith said.

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@merfilwilliams

This change is partly because “retail traders increasingly enter the crypto market through Solana [as] speculation intensifies around Solana-based memecoins and AI agent tokens,” Grayscale said in a December research note.

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In 2024, the total value locked on Solana surged from around $1.5 billion in January to nearly $8.5 billion by December, according to data from DefiLlama.

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Cryptocurrency researcher Steno Research expects USDC’s circulating supply to more than double during 2025, reaching highs of around $100 billion.

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Cryptocurrency researcher Steno Research expects USDC’s circulating supply to more than double during 2025, reaching highs of around $100 billion.

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Following the AMF’s authorization, Hexarq will reportedly integrate its crypto app into BPCE’s two main banking networks, Banque Populaire and Caisse d'Épargne, making it available for their customers.

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@jonesjenny8290

If confirmed, BPCE’s crypto entrance will be significant to the industry as the banking group has 35 million customers, with assets under management peaking at roughly 1.3 million euros ($1.3 million) by the end of September 2024.

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@danawilson4768

According to official AMF records, there are only three other companies that have received CASP authorization from the regulator, including Société Générale’s crypto subsidiary, Forge, which obtained the approval in 2023.

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As previously reported, AMF started accepting CASP applications in August 2024, or about six months ahead of the Markets in Crypto-Assets regulations, which are set to be fully enforced on Dec. 30.

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