The Kill-or-Be-Killed Fight for Crypto’s Future - WSJ

1. Tether, led by Giancarlo Devasini, faces regulatory pressure from Circle. 2. Tether generated $13 billion profit last year, significantly higher than BlackRock. 3. Circle's USDC stablecoin is expanding, gaining regulatory advantage over Tether. 4. Ongoing regulatory scrutiny poses risks for Tether's operational viability. 5. Tether's association with criminal activities could trigger further investigations.