Revolut Clarifies USDT Delisting as Limited to EEA and Switzerland

Revolut has announced that the upcoming delisting of Tether (USDT) will only affect users in the European Economic Area (EEA) and Switzerland, rather than all of Europe, providing some clarity amid market uncertainty. The decision to phase out USDT, effective August 31, is part of a broader strategy as the company prepares to introduce a new asset, developed by Hadron, to replace the stablecoin. This move comes as the sentiment surrounding cryptocurrencies exhibits a notable shift, with an adjusted sentiment score of 74 indicating a prevailing atmosphere of greed among investors, despite a coverage trend of 22 reflecting heightened caution and fear in the market. The recent fluctuations in the crypto space have been underscored by a slight decline in momentum, as evidenced by a recent rate of change (roc_n3) at -0.0004, suggesting that market participants are reassessing their positions in light of evolving regulatory landscapes and asset availability.