Bitfinex may soon list USAT, Tether’s new U.S.-focused stablecoin, involving major players like Tether and Cantor Fitzgerald amid notable regulatory landscape changes.
USAT’s listing could impact the stablecoin market, particularly USDT and USDC, reflecting Tether’s strategic steps in navigating U.S. regulations.
Unverified reports suggested Bitfinex might list Tether’s 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.
Tether’s 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 USAT’s 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 USAT’s adoption. Tether’s competitive edge from previous successes could influence future but remains to be tested. As Paolo Ardoino put it, “I think it’s 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.”
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