Last week in the world of cryptocurrencies and technology was filled with significant events. Among the key news was Western Union’s plans to launch its own stablecoin, unexpected claims from Sam Bankman-Fried, and another interest rate cut by the Fed.
This is reported by Finway
Key Trends in the Crypto Market
Last week, Bitcoin and Ethereum experienced some fluctuations. Despite the Fed’s interest rate cut, the cryptocurrency market reacted with a decline. Specifically, Bitcoin was trading around $110,399, while Ethereum was about $3,863.
Most Interesting Events of the Week
Among the most notable events was Western Union’s plan to launch its own dollar stablecoin, the US Dollar Payment Token (USDPT), in the first half of 2026. Experts believe that the entry of such a powerful player could significantly impact the stablecoin market.
Also surprising was the statement from Sam Bankman-Fried, the former head of the FTX exchange. In his document, he claims that the exchange remained solvent and that the bankruptcy was caused by lawyers. However, the crypto community views this statement with considerable skepticism.
Another important event was the Fed’s latest interest rate cut of 0.25%, bringing it to a range of 3.75%-4%. However, the regulator’s head, Jerome Powell, hinted at a possible shift to neutral policy, which caused a decline in the crypto market.
“We are witnessing an interesting period of transformations in the world of cryptocurrencies and financial technologies,” analysts note.
Among other notable news was OpenAI’s plans for an IPO with a valuation of up to $1 trillion, Nvidia reaching a market capitalization milestone of $5 trillion, and the launch of new cryptocurrency ETFs.
Overall, last week confirmed the dynamism and unpredictability of the world of cryptocurrencies and technology.