Ripple's prolonged legal struggle with the SEC continues, with no resolution in sight until 2026. The SEC's pursuit of classifying cryptocurrencies as securities poses a threat to the entire crypto market. Recently, Ripple CEO Brad Garlinghouse shared his insights on potential US actions against stablecoin issuers, particularly Tether.

Garlinghouse expressed his conviction that the US government will target Tether, citing its significance in the ecosystem. Tether has faced regulatory scrutiny before, resolving issues by converting its reserves to cash equivalents. However, recent reports of Tether's use by sanctioned entities and terrorist organizations have raised concerns. US Deputy Treasury Secretary Adewale Adeyemo testified that Russia uses Tether to circumvent sanctions and finance its war efforts.

Despite these concerns, Tether cooperates with law enforcement, facilitating asset freezing and resource identification. With a circulating supply of $110 billion and a net profit of $4.5 billion in Q1, Tether leads the market. As the Bitcoin price hovers around $61,100, the market remains cautious, awaiting potential developments in the Ripple-SEC case and Tether's situation.

The ongoing legal battle and regulatory scrutiny cast a shadow over the crypto market, emphasizing the need for clarity and cooperation between authorities and industry players. As the situation unfolds, market participants remain vigilant, monitoring potential impacts on the ecosystem.