Web3🌑Friday Roundup: Tether’s Revolution, Michael Lewellen vs. DOJ, and Bitcoin's Shifting Landscape

Welcome to this week’s Web3 Friday Roundup! As the crypto landscape continues to evolve, we’re diving into some game-changing developments. From Michael Lewellen’s legal battle against the DOJ over regulatory overreach to Tether’s bold move with USDT0 reshaping the future of stablecoins, it’s clear the space is buzzing with innovation. Meanwhile, Nasdaq’s bold steps to list Canary Capital’s Litecoin ETF and Bitcoin’s fluctuating premium amidst news of Trump’s potential national crypto policy show just how dynamic the market is. Let’s break it all down!

1. Michael Lewellen Takes on DOJ Overreach

Michael Lewellen has filed a lawsuit against the U.S. Department of Justice, claiming its broad interpretation of money-transmission laws unfairly targets non-custodial crypto tools, violating the First and Fifth Amendments. The lawsuit defends his decentralized platform, Pharos, built on Ethereum, arguing it operates outside federal regulations. Lewellen contends that the DOJ’s stance criminalizes developers who create non-custodial tools, threatening crypto innovation in America. He points to cases like Tornado Cash and Samourai Wallet as evidence of overreach. The case raises serious concerns about constitutional rights and the future of decentralized tech.

Crypto Developer Michael Lewellen Sues DOJ For Regulatory Overreach - Decrypt

Lewellen’s lawsuit claims the DOJ criminalizes non-custodial crypto tools, violating the First and Fifth Amendments and federal law guidance.

DecryptVismaya V

2. Tether USDT0: Revolutionizing Stablecoins & Crypto

Tether has unveiled USDT0, marking a significant step in stablecoin innovation aimed at addressing crypto market volatility. This cross-chain stablecoin is now accessible on many blockchain networks, with around 60% of major chains supporting it. Designed to promote adoption in underserved markets, USDT0 provides banking alternatives to regions lacking traditional financial services. Backed by strong security measures and fast transaction speeds, it is already gaining traction, with 70% of new users coming from areas in need. Alongside its $775 million investment in Rumble, Tether is positioning USDT0 as the future of stablecoins, driving accessibility and stability across the crypto ecosystem.

Tether USDT0: A Game-Changer for Stablecoins and Crypto’s Future

Learn how Tether USDT0 tackles crypto market volatility, enhances security, and drives stablecoin adoption in the crypto world.

Watcher GuruVladimir Popescu

3. Nasdaq Files for Canary Capital’s Litecoin ETF

Nasdaq has filed for Canary Capital’s Litecoin ETF, marking a major step toward launching the first altcoin ETF of 2025. This follows Canary's amended S-1 filing, suggesting productive feedback from the SEC. Analysts predict approval is imminent, as Litecoin is already classified as a commodity, clearing regulatory hurdles. While LTC has faced bearish trends and stagnation, the ETF buzz has sparked renewed interest, with whale activity and price momentum building. If approved, Canary Capital would gain a first-mover advantage in the U.S. crypto ETF market, positioning Litecoin as the third cryptocurrency with an ETF in the region.

Nasdaq Files Application to List Canary Capital’s Litecoin ETF

The Nasdaq filed form 19b-4 to begin trading a Litecoin ETF from Canary Capital today. This comes only a few hours after Canary amended its form S-1, suggesting productive SEC feedback.Multiple analys

InsightsBeincrypto

4. Bitcoin’s Coinbase Premium Drops as Trump Eyes National Crypto Policy

Bitcoin is trading at a slight discount on Coinbase compared to Binance, reflecting cautious U.S. investor sentiment despite positive crypto developments. President-elect Trump is expected to announce pro-crypto policies, including making crypto a national priority, creating a Bitcoin reserve, and forming an advisory board to support the industry. This marks a stark shift from the Biden administration's stricter stance. While BTC saw a surge led by U.S. investors in late 2023, optimism seems muted as traders await Trump’s follow-through on promises. At press time, BTC trades at $101,600, staying between $90,000 and $108,000 since mid-December. #Bitcoin #CryptoNews

Bitcoin’s (BTC) ‘Coinbase Premium’ Muted Amid Reports Trump Plans to Designate Crypto a National Policy

BTC trades at a slight discount on Coinbase relative to Binance, data from CryptoQuant show.

CoinDeskOmkar Godbole

That wraps up today’s Web3 Roundup! As the crypto and blockchain space continues to shift, staying informed on these pivotal developments will be key. From legal battles to groundbreaking innovations, the landscape is evolving faster than ever. Be sure to check back for more insights and updates, and stay ahead of the curve in the ever-changing world of Web3. Until next time!

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