Does the delisting of Tether in Europe threaten cryptocurrency stability?

Tether, the largest stablecoin with a market capitalization of $139.28 billion, faces potential disruption as Europe tightens #cryptocurrency regulation.
cryptocurrency policy is unclear. Unlike the U. S. , where it remains unclear, Europe's Market for Cryptoassets (MiCA) requires stable cryptocurrencies such as #Tether (USDT) to have an electronic money license. Teters that fail to meet this requirement risk being delisted from European cryptocurrency exchanges by December 30, 2024.
Such an exclusion could disrupt the market, especially given Tether's integral role in cryptocurrency trading and the #USDT pair.
Tether delisting could be a serious risk to the market. The lack of liquidity combined with shaken investor confidence could lead to a broader market downturn: while Tether's dominance has somewhat recovered since March, critics say it remains vulnerable, with some calling it a ticking bomb.
Adding to the tension are recent reports that Tether stopped #mining for more than two weeks, leading to renewed speculation about its stability. Critics, including venture capitalist Jason Karkanis, have accused Tether of lacking transparency and labeled it a financial risk. Despite this, Tether's CEO called the criticism unfounded and fear-mongering and expressed confidence in the token's future.
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Share this article: share this article: U.S. stocks ended the year on a weak note, leaving investors worried as the S&P 500 index barely moved during a Santa Claus rally.

While investors were chasing artificial intelligence-focused funds, the second season of Netflix's "Squid Game" failed, causing shares of Korean companies associated with the series to plummet.
U. S. stocks came to a halt as investors questioned whether the traditional Santa Claus rally will take place. Investors are questioning whether the traditional Santa Claus rally will happen. This year, the windows for the rally are the last five days of December and the first two days of January.
the S&P 500 Index rose 1.1% on the first day, but quickly lost momentum, falling 0.04% on Thursday. Today's futures suggest another decline, with a 0.4% drop expected by the start of trading.
Historically, the Santa Claus rally has consistently boosted the market, with an average return of 1.3% since 1950 and a typical seven-day gain of 0.3, well above the average return of 1.3%. This phenomenon was first noted by Yale Hirsch in his "Stock Trader's Almanac" in the 1970s, and according to Adam Turnquist of
LPL Financial, bull markets at this time of year usually herald a larger rally. But so far, Santa Claus seems to be stuck in traffic.
even if the rally fails, the S&P 500 Index is poised for its biggest gain against global markets since 1997. The boom in artificial intelligence and optimism about the U. S. economy has not been without its shocks, but this year has been one of the best yet. Thematic ETFs that invest in specific trends, such as cloud computing and renewable energy, have suffered losses. About $6.5 billion flowed out of these funds in 2024, with the ARC Innovation #ETF alone losing about $3 billion. AI was the shiny new toy this year, but it sucked the oxygen out of the room.
Some investors are already chasing the next big thing.

cryptocurrencies didn't sit still either.

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The Tokyo-based company originally offered 24 virtual assets that could be traded on its platform, but with the acquisition of DMM Bitcoin, 14 cryptocurrencies will be added, including Tron (TRX), The Sandbox (SAND), Algorand (ALGO)

and Maker (MKR). As part of the acquisition, SBI will also take over all previous leveraged DMM trading pairs other than those it already offers. The company also clarified that open leveraged trading positions will not be transferred.
According to the notice, staking will be automatic, and #Ethereum (ETH), Avalanche (AVAX), Oasis (OAS), Flare (FLR) and Hedera (HBAR) on DMM Customers holding these assets can get staking at SBI. If they continue to hold these assets, they are expected to receive their first staking reward in April 2025.
DMM #Bitcoin announced that it has decided to cease operations after months-long efforts to recover from a multi-million dollar attack in late May failed. The platform lost more than 4,500 BTC worth about $305 million, making it the second largest cryptocurrency hack in Japan after another exchange Coincheck lost $523 million worth of NEM tokens in a 2018 incident.
The DMM hack was allegedly carried out by threat actors linked to the Democratic People's Republic of Korea (DPRK), known as TradeTraitor In July, more than $35 million stolen from the exchange was laundered through the notorious Cambodian online marketplace Huione Guarantee. During
pseudonymous detective ZachXBT compared this method of money laundering to that used by another North Korea-linked organization, the infamous Lazarus Group. DMM promised to reimburse affected customers. However, even after DMM borrowed 50 million yen to compensate its users, the damage to its operations was so severe that it decided to transfer all assets to SBI VC Trade.
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