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jennymiller2381

@jennymiller2381

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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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In a Jan. 2 statement shared with Cointelegraph, Tether wrote that Hoegner had retired and would be replaced as general counsel by Tether’s current legal counsel.
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“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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The change in legal leadership for Tether comes amid the implementation of MiCA in Europe, which officially took effect on Dec. 30.
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“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 in a Dec. 29 report.
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In October 2024, the European Securities and Markets Authority (ESMA) — a key supervisor of MiCA compliance — declined to tell Cointelegraph whether USDT was seen as a restricted stablecoin under MiCA.
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A spokesperson at ESMA then said that the regulator was working with market participants and other stakeholders to address stablecoin-related issues presented in MiCA.
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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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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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USDT’s market cap fell from $138.8 billion on Dec. 30, 2024, to a weekly low of $136.9 billion on Jan. 1, CoinGecko data shows.
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USDT’s market cap fell from $138.8 billion on Dec. 30, 2024, to a weekly low of $136.9 billion on Jan. 1, CoinGecko data shows.
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Wood also reiterated her optimistic outlook for BTC price, maintaining her prediction that the cryptocurrency could exceed $1 million by 2030 — having surged beyond $108,000 this year.
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Fuelled by institutional interest, such as through exchange-traded funds (ETFs), and due to its limited supply, Wood said that BTC “is becoming even more scarce than gold.”
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According to the ARK Investment CEO, Trump’s administration will likely create a more business-friendly environment, benefiting venture-backed startups seeking acquisition opportunities.
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“M&A has been prevented by the FTC. That is going to change,” she said when speaking on Bloomberg Television. Adding that, “deregulation [is] critically important.”
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In a Bloomberg interview, Wood said that the Federal Trade Commission (FTC) changes could ease regulatory barriers previously imposed that stifled M&As.
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Wood said that Federal Reserve Chair Jerome Powell previously described BTC as a digital version of gold, which aligns with the CEO’s positive outlook that the crypto market is still in the “early innings.”
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Comparing BTC to gold on Dec. 5, Wood weighed gold’s $15 trillion market against BTC’s $2 trillion market, suggesting significant potential for growth for the cryptocurrency.
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Copper Technologies, a cryptocurrency custody firm backed by British multinational bank Barclays, has withdrawn its crypto license application in the United Kingdom.
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