Euro Dropped from Digital Currency Race — Analysts Raise Risk of USDT Depegging

From 27 November 2025 onwards, Tether will stop supporting the redemption of the EUR₮ stablecoin on all blockchain networks. Minting of new coins stopped in 2022.
Consequently, owners will no longer be able to exchange their tokens via the platform's official channels.

The one-year period allotted to users to withdraw their funds has officially expired, marking EUR₮'s final departure from the cryptocurrency market. As far as I am aware, no other companies are issuing digital euros, so it is safe to say that the EU fiat has been completely removed from crypto exchanges.

USDT remains in third place in terms of market capitalisation, which could pose a hidden threat to the cryptocurrency market. S&P Global Ratings has revised its assessment of the reliability of Tether's stablecoin issuance, downgrading it from 4 to 5 ('weak').

This harsh decision was prompted by the alarming transformation of the company's reserve structure: the share of high-risk instruments, including Bitcoin, gold, and corporate bonds, has grown to 24%.

Given the recent 20% collapse in the BTC exchange rate, there is a real risk that the fall in asset values will leave the stablecoin without full coverage. The story of UST from the developers of Terra could then repeat itself. As soon as speculators learned about the problems with securing stablecoins, they caused the peg to the dollar to collapse.