A year-end overview of decentralized stablecoins with market caps between $50 and $500 million.

Tether should be on the verge of delisting due to new regulations, but major exchanges are still not communicating clearly with users.

Arthur Hayes envisioned a stablecoin independent of the fiat banking system. Ethena, inspired by his ideas, still relies on centralized systems like USDT, falling short of full decentralization.

The future looks bright after a stellar year for the industry.

Ethena unveils USDtb as a conservative alternative to its high-yield USDe stablecoin, while its governance token ENA surges 25% over the weekend following an investment from the Trump-led World Liberty Financial.

What lies beneath the alliance of the two crypto behemoths?

Over 41 million tokens have been minted ahead of New York's regulatory decision, while XRP surges past Tether and Solana to claim the third spot amid ETF filings and a new wave of meme coins.

Is Donald Trump, or are dollar-pegged stablecoins standing in the way of non-western countries freeing themselves from the hegemony of the dollar?