Bitcoin price action failed to revisit the $83,000 mark after US-Iran war tensions took over to steer the crypto market mood. Bitcoin (BTC) cooled from new 13-week highs at Wednesday’s Wall Street open amid mixed signals over a US-Iran peace deal. Key points: Data from TradingView showed a new local peak for BTC/USD of $82,833 on Bitstamp. Read more
The Wall Street bank is charging 50 basis points per crypto trade, below basic retail pricing at Coinbase, Robinhood and Charles Schwab. Morgan Stanley has rolled out a cryptocurrency trading pilot on its E*Trade platform, charging lower basic retail fees than some of the largest US crypto and brokerage platforms. The Wall Street bank is charging clients 50 basis points on the dollar value of each crypto transaction, undercutting Coinbase, Robinhood and Charles Schwab on standard retail pricing, according to a Tuesday Bloomberg report. The offering is currently in pilot mode, with E*Trade’s 8.6 million clients expected to gain access later this year, Bloomberg reported. Read more
The crypto industry in the UK has come out against the Bank of England’s proposed policy that would ban custodial wallets for stablecoins. As the UK considers options to attract and develop the crypto industry at home, the Bank of England (BOE) has put forward several proposals for how it might regulate stablecoins to mitigate perceived financial risks. These have included a ban on custodial wallets for stablecoin holdings. The UK crypto industry, from stablecoin issuers to Bitcoin hardliners, has predictably taken issue with the ban. “This would be a serious misstep for the UK, risking long-term damage that is hard to unwind,” said Benoit Marzouk, CEO of stablecoin issuer tGBP told Cointelegraph. Read more
OpenTrade raised $17 million to expand its stablecoin yield platform, bringing total funding above $30 million as it scales stablecoin yield infrastructure for global clients. OpenTrade, an institutional-grade platform for onchain and real-world asset (RWA)-backed lending and stablecoin yield products, has raised fresh capital to expand its yield infrastructure. The platform secured $17 million in its latest strategic funding round led by Mercury Fund and Notion Capital, OpenTrade said in a Wednesday announcement seen by Cointelegraph. The new funding will support the continued expansion of OpenTrade’s permissioned and permissionless yield infrastructure, as well as the growth of its vault-focused service Curation+, CEO David Sutter told Cointelegraph. Read more
Remittance firms are using crypto to bypass parts of traditional settlement infrastructure, but this does not mean SWIFT is disappearing. Some of the world’s largest remittance providers are accelerating their digital asset strategies as they look for faster settlement alternatives to traditional banking rails. Western Union’s new stablecoin USDPT is the latest example of the growing overlap between traditional payments firms and crypto infrastructure. The money transfer company launched its Solana-based stablecoin on Monday in the Philippines and Bolivia, with plans to expand into additional markets throughout 2026. Western Union CEO Devin McGranahan said in the company’s Q1 earnings call that the stablecoin will be used as an alternative settlement layer to the decades-old SWIFT network. Read more