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International Business Times
International Business Times
Business
Marvie Basilan

Tether Suffers Extreme FUD Amid MiCA Implementation, Triggering $USDT Price Drop

MiCA USDT European Union Crypto United States Paolo Ardoino Coinbase Samson Mow Binance Bitcoin
Tether was in the spotlight earlier this year after a report that billions in USDT passed through a sanctioned crypto exchange. (Credit: Tether Website/Screenshot)

KEY POINTS

  • Tether was trending on X as crypto users discussed the future of $USDT in the European Union
  • $USDC, $PYUSD, and $RLUSD were trading higher than $USDT Sunday amid the buzz
  • Coinbase became the first crypto exchange to confirm it was delisting $USDT upon MiCA's implementation
  • Tether's Paolo Ardoino said talks around $USDT's future were just FUD as 'pushed by competitors'

Tether, the company behind the world's largest stablecoin, is suffering an intense bout with FUD (fear, uncertainty and doubt) as the European Union's stringent Markets in Crypto-Assets (MiCA) regulation is set to go into full force Monday.

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