Crypto markets experienced sharp clean-up in leveraged positions following the Fed's interest rate cut, while nine European banks announced a euro stablecoin consortium and Morgan Stanley plans crypto trading for individuals.
Firi Weekly You can read Week 39 here.
Main cases:
Open positions in Bitcoin and Ethereum futures fell by $4 billion and $5.3 billion, respectively, as overleveraged traders were liquidated. That triggered a healthy but brutal market correction.
Nine major banks including Danske Bank and SEB form consortium with launch in second half 2026. It underscores that traditional finance is increasingly embracing crypto.
E-Trade subsidiary launches crypto trading for individuals in the first half of 2026 with plans to tokenize stocks and bonds.
The European Central Bank is aiming for 2029 as the launch year for the digital euro. Thus, the central bank risks losing market opportunity if private stablecoins at that point become all-dominant.
