Ethena (ENA) triggered a significant event in the crypto market by unlocking 2.07 billion ENA tokens, valued at approximately $740.71 million. This massive increase in circulating supply, accounting for 39.17% of the total supply, raised important questions about market stability, price volatility, and investor sentiment.

Sanctioned Russian crypto exchange Garantex is announcing the suspension of its operations after Tether blocked its platform's wallets. In a new Telegram announcement on Thursday, the Russian exchange says that Tether has blocked Garantex's wallets, which contained over 2.5 billion rubles, about $28 million. “Dear users! We have bad news.

Amid the ongoing market uncertainty, crypto whales are seen offloading Ethena (ENA) tokens. Today, March 6, 2025, a prominent crypto expert posted on X (formerly Twitter) that whales have dumped a significant $148 million worth of ENA tokens onto the exchanges in the past 48 hours.

ENA unlock injected $740.71 million into the market, influencing price action, volatility, and investor sentiment.

Stablecoin operator Tether has revealed that it has frozen $27 million in USDT on the sanctioned Russian crypto exchange, Garantex. The cryptocurrency exchange has also suspended all its trading and withdrawal services.

Russian cryptocurrency exchange Garantex has temporarily suspended all its services after Tether froze $28 million worth of USDT held on the exchange. The announcement came via a Telegram post from Garantex on March 6, 2025, detailing the suspension of all operations, including cryptocurrency withdrawals. The exchange disclosed that Tether's action impacted wallets containing over 2.

Garantex, a Russian crypto exchange under US sanctions, accused Tether of attacking the Russian crypto market.

Tether, the largest stablecoin issuer, has immobilized roughly $28 million in USDT tokens on Garantex, a cryptocurrency platform based in Russia. This measure corresponds with the European Union's sanctions against Garantex, which allege ties to Russian governmental entities and illicit networks, particularly amid Russia's military operations in Ukraine.

Sanctioned crypto exchange Garantex has halted operations following Tether's decision to freeze $27 million worth of USDT on the platform. In a March 6 announcement on Telegram, the exchange confirmed a temporary suspension of crypto trading and withdrawals, citing Tether's decision to freeze its funds.

Russian cryptocurrency exchange Garantex on Thursday said stablecoin Tether had blocked digital wallets on its platform holding more than 2.5 billion roubles ($28 million), forcing it to suspend operations days after coming under EU sanctions.

Ethena (ENA) has recently experienced a price uptick of 17%, following a challenging start to the year. This rise, however, comes after significant losses that started early in 2025, exacerbated by a massive token unlock event in the last 48 hours.

"Tether has entered the war against the Russian crypto market and blocked our wallets worth over 2.5 billion rubles," Garantex said.

Tether has frozen $27 million worth of USDT USDT linked to the Russian crypto exchange Garantex, which is under international sanctions.

Tether has recently made a significant decision that has shaken the cryptocurrency market in Russia.

Sanctioned crypto exchange Garantex has shut down its services shortly after Tether froze nearly 2.5 billion in worth of USDT in Russian rubles.

Crypto exchange Garantex has halted all trading and withdrawals after Tether froze almost $28 million of its stablecoin USDT tied to the platform.

Crypto exchange Garantex halted trading and withdrawals after Tether froze about $27 million of its stablecoin USDT tied to the platform.

Tethers longtime CFO, Giancarlo Devasini, has stepped down and now serves as chairman, maintaining a low profile in Lugano, Switzerland. In contrast, Circle founder Jeremy Allaire actively engages with politicians and Wall Street executives, highlighting the ideological and business rivalry between the two stablecoin giants.

A WSJ article delved into the contrasting styles between Tether's Giancarlo Devasini and Circle's Jeremey Allaire.

The stablecoin issuer Tether has hired a new chief financial officer (CFO) and committed to completing a full audit. The veteran finance executive Simon McWilliams will now serve as CFO for Tether, which issues the dollar-pegged USDT, the top stablecoin by market cap.

The European Securities and Markets Authority (ESMA) confirms custody and transfers of stablecoins are not restricted under MiCA. Crypto asset service providers of Europe must restrict offering stablecoin acquisition services.

Despite delistings, ESMA clarifies that custody and transfers of non-MiCA compliant stablecoins are not explicitly prohibited.

As Europe prepares for a heavy enforcement of the Markets in Crypto Assets (MiCA) law, crypto exchanges are moving to ensure compliance. Binance, the biggest crypto exchange by market cap, has announced plans to delist stablecoins for European users.

Ethena (ENA), the governance token of Ethena Labs, has surged by an impressive 11% within 24 hours, climbing to $0.3791 amid a broader cryptocurrency market recovery. This rebound follows a brutal 69% correction over the past 60 days, offering a glimmer of hope to investors.

The ESMA has clarified that the custody and transfers of stablecoins, such as USDT (Tether), are not restricted by the MiCA regulation.

Tether has appointed Simon McWilliams as its new Chief Financial Officer (CFO) to lead its efforts toward a full financial audit, reinforcing its commitment to transparency. The move comes as Tether expands its institutional reach.

The European Securities and Markets Authority confirmed that MiCA rules do not explicitly ban non-compliant stablecoin custody and transfers.

Bybit has announced a new initiative to reward users who hold or use Ethena's USDtb stablecoin.

In two X posts published on March 2 and March 3, respectively, Tether CEO Paolo Ardonio shared his plan for solving the electricity hunger in Africa.

TRON (TRX) has emerged as a dominant force in the world of stablecoin transfers, processing a staggering $11.4 billion in USDT (Tether) transactions. Recent data from CryptoQuant reveals that the blockchain has processed 1.89 million transactions, accounting for a significant portion of stablecoin activity in the market.

The move comes as the stablecoin market grows increasingly more competitive and the U.S. nears creating regulatory certainty around stablecoins.

The new service is expected to rollout in June.

Top global crypto exchange Binance is delisting Tether's USDT and other stablecoins for European customers because the digital assets are not compliant with new regulations in those countries.

TRON dominates USDT transfers with $11.4B in inflows—will this trigger the next big market move?

TRON-based USDT increased its activity, and still expecting the launch of the no-fee feature. The token turned Binance into one of its biggest holders.

Ethena token unlock will release $728 million worth of tokens on March 5, adding 2.07 billion ENA into circulation. According to data from Tokenomist, this unlock accounts for 66.19% of its total supply.

Binance is delisting several stablecoins, including USDT, for European Economic Area (EEA) residents due to non-compliance with MiCA regulations. USDT Woes Continue Top crypto exchange Binance announced on March 3 that it would delist several stablecoins not compliant with MiCA on its platforms used by residents in the European Economic Area (EEA).

Over 2.07 billion Ethena (ENA) tokens worth $820 million will hit the crypto market in the first week of March.

Tether, the stablecoin giant, has announced the appointment of Simon McWilliams as its new Chief Financial Officer (CFO).

Binance plans to delist Tether's USDT to EU-based customers to comply with MiCA. European users will still be able to withdraw assets until midnight on March 31.

Bitcoin Suisse, an institutional-grade crypto services provider, is expanding its digital asset offerings with access to four new tokens.

McWilliams will guide Tether toward greater transparency while longtime CFO Devasini transitions to Chairman. The stablecoin issuer holds over $113 billion in US debt but faces criticism over audit practices.

EU customers can convert their holding MiCA-compliant alternatives like USDC ahead of deadline.

Tether named Simon McWilliams as its new chief financial officer, aiming to enhance transparency and move towards a full financial audit.

Tether, Inc. hired Simon McWilliams as its new CFO, shifting Giancarlo Devasini into the role of Chairman for macro strategies.

TL;DR Giancarlo Devasini, CFO and controlling shareholder of Tether, will transition into the role of Chairman of the company. Simon McWilliams has been appointed the new CFO to lead the transition towards a full financial audit of the company.

The stablecoin issuer said it is making a "firm commitment" to completing a full audit following the appointment.