William Quigley, Co-founder of Tether & WAX, on Bitcoin, Stablecoins, ETH vs. SOL, Crypto Regulation, and The 2025 Crypto Cycle | Ep. 415
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William Quigley, co-founder of Tether and WAX, joined the Cryptonews Spotlight Podcast for an in-depth conversation on the future of Bitcoin, stablecoins, Ethereum vs. Solana, the role of crypto regulation, and what to expect in the 2025 post-halving cycle.
As an investor in over 30 blockchain companies, including Coinbase, Kraken, and Circle, Quigley has a unique perspective on the crypto market’s evolution and what’s coming next.
The Bitcoin Halving Cycle is Following Historical Trends
“The 2025 post-Bitcoin halving is proceeding precisely as prior patterns predict. The first three stages in the pattern have already occurred.”
Quigley emphasized that Bitcoin’s price movements continue to follow the same post-halving cycle we’ve seen in previous years, predicting that Bitcoin could hit $300,000 to $350,000 by the end of 2025.
Ethereum vs. Solana: Why SOL is Winning in UX
“ETH has more liquidity, but SOL is better across the board—better UX, UI, and much easier to onboard.”
Quigley noted that Ethereum’s gas fees and slow transactions have pushed many new users to Solana, which offers a better experience with lower fees and faster speeds. He believes Ethereum is struggling to keep up with Solana’s usability.
The US Strategic Bitcoin Reserve: A Game-Changer for Adoption?
“The much-talked-about US strategic Bitcoin reserve will be more important as a signal for other sovereign funds to acquire BTC than the buying power from the US reserve itself.”
Quigley discussed how if the US starts accumulating Bitcoin, it will trigger a domino effect where other sovereign wealth funds and governments begin doing the same, potentially skyrocketing Bitcoin’s price.
How Tether’s Growth Keeps the USD as the World’s Reserve Currency
“The founding story and growth of Tether—arguably the most powerful and important in crypto, and potentially all of the world.”
Tether has played a massive role in the global crypto economy, ensuring that the US dollar remains dominant as the world’s reserve currency. Quigley suggested that without stablecoins like USDT, other fiat currencies might have challenged the USD’s supremacy in global markets.
A Pro-Crypto Trump Presidency? Why Banking Reform is Needed
“A pro-crypto Trump presidency needs to bring with it banking reform. US banks have been at war with crypto since Bitcoin began. US banks should not be able to close accounts of customers who own or trade cryptocurrencies. This is a big problem in the US.”
Quigley believes that the US banking system has intentionally made it difficult for crypto businesses and individuals to operate and that a regulatory shift under Trump could open doors for greater crypto adoption.
Stablecoins are the Biggest Use Case for Crypto
“The two major use cases in crypto by a country mile are centralized exchanges and stablecoins.”
Quigley highlighted how stablecoins have revolutionized finance, particularly in emerging markets like Argentina, where businesses prefer Tether over the local currency due to inflation.
USDT and the Power of Tokenized Money
“We thought, what if everybody could have a synthetic dollar? What would that be worth?”
Quigley and his team created Tether because they saw the global need for a digital, stable dollar that anyone could use without the limitations of traditional banking.
Why Stablecoins Make Cross-Border Payments More Efficient
“There’s about $1 trillion worth of currency conversion costs borne by consumers and businesses globally each year. Stablecoins eliminate that.”
With stablecoins, users no longer need expensive foreign exchange services, as they can instantly transact in a global currency with minimal fees.
Why Tokenized USD Could be the Biggest US Economic Advantage
“The most powerful thing President Trump could do would be to tokenize the US dollar and allow the world to use dollars.”
Quigley argued that if the US government embraced a tokenized digital dollar, it could further cement the USD’s dominance in global trade.
The Future of Bitcoin ETFs and Institutional Adoption
“People should seriously look at the Bitcoin and Ethereum ETFs. They’re very easy now, at least for US people, to buy into and exit.”
Quigley sees the growth of Bitcoin and Ethereum ETFs as a key driver of institutional adoption, making it easier for hedge funds, pension funds, and retail investors to gain exposure to crypto.
Why Meme Coins Don’t Drive Long-Term Growth
“One big difference in this cycle is that we haven’t seen a big new innovation driving crypto prices up. In past cycles, something new—like ICOs or DeFi—helped propel the market. This time, it’s mostly speculation.”
Quigley believes that while meme coins have brought retail excitement, they don’t drive real innovation. Instead, he hopes to see more focus on real software development in the crypto space.
Bitcoin’s Price Could Skyrocket If Institutional Demand Surges
“Bitcoin has an ability to rally very quickly. A 3X move in a year is nothing unusual.”
Quigley explained that Bitcoin’s price movements are cyclical, and institutional demand could push BTC beyond its current highs in 2025.
What’s Next for Crypto Regulation?
“If we get real crypto legislation before the end of the year, that could be the trigger for a late-stage rally in 2025.”
Quigley believes regulatory clarity in the US could be the missing piece that drives institutional investment and broader adoption.
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