Bitfinex may soon list USAT, Tetherโs new U.S.-focused stablecoin, involving major players like Tether and Cantor Fitzgerald amid notable regulatory landscape changes.
USATโs listing could impact the stablecoin market, particularly USDT and USDC, reflecting Tetherโs strategic steps in navigating U.S. regulations.
Unverified reports suggested Bitfinex might list Tetherโs USAT stablecoin, tailored for U.S. markets. However, no official confirmation was made by Bitfinex leaders.
Tether, with Paolo Ardoino at the helm, is introducing USAT, a new dollar-backed stablecoin. The exchange Bitfinex remains silent on its involvement.
Market Skepticism Surrounds Unconfirmed Bitfinex Listing
The lack of confirmation from Bitfinex has left the cryptocurrency community skeptical about the potential listing. Speculation persists without any formal announcements or evident timestamps.
Tetherโs ventures into stablecoins draw attention due to its $169 billion market cap. Regulatory frameworks loom, notably the GENIUS Act, shaping potential outcomes vastly.
Regulatory Pressure May Influence USATโs Future
The situation mirrors past Tether controversies, including the 2021 NY AG settlement. Such instances emphasize transparency issues in crypto exchanges.
Experts suggest that ongoing regulatory pressures may shape USATโs adoption. Tetherโs competitive edge from previous successes could influence future but remains to be tested. As Paolo Ardoino put it, โI think itโs a very exciting moment because we were under severe pressure from competitors that want to create a monopolistic environment in the United States. We believe that Tether is the best product in the market.โ
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