Morgan Stanley Enters the Crypto Ring, Targeting Retail Market With E*Trade

It's official – Morgan Stanley is taking the plunge into crypto trading. The investment giant is gearing up to offer cryptocurrency

It’s been a week of jaw-dropping headlines in crypto – it’s true when they say the market never sleeps. We’re talking about how investors are riding high on the news of Bitcoin pushing towards $100K, the return of institutional crypto strategies, and some spicy legal drama in the NFT space. Trust me, there’s more than just numbers to watch here – these moves could change the game.

So, have you got your coffee? Buckle up, and let’s break down the wildest stories that you need to know this week. Let’s dive in!

#1 Morgan Stanley Enters the Crypto Ring

It’s official – Morgan Stanley is taking the plunge into crypto trading. The investment giant is gearing up to offer cryptocurrency trading on its E*Trade platform by 2026.

This move signals a significant shift for traditional finance as it makes a push into direct crypto markets, taking on platforms like Coinbase and Binance. So far, Morgan Stanley’s crypto exposure has been through ETFs and derivatives for high-net-worth clients, but this new strategy is an all-out race to capture the growing retail market.

Will they manage to outcompete crypto-native exchanges? Hmm.. only time will tell.

#2 Nike Faces Lawsuit Over RTFKT Shutdown – The ‘Rug Pull’ That Could Have Been?

Nike is being sued by a group of RTFKT investors for allegedly misrepresenting its involvement in the NFT project and then abruptly shutting it down.

The plaintiffs, who invested in RTFKT’s NFTs, claim that Nike sold unregistered securities and pulled a “crypto rug pull” by winding down the project.

It’s the latest in a series of legal headaches for big brands dabbling in Web3. As NFTs continue to grow in popularity, expect more lawsuits like this one – raising questions about accountability, transparency, and whether digital assets should be regulated more like traditional securities.

#3 Vitalik Buterin and Ethereum’s Evolution: Big Changes Ahead!

Vitalik Buterin seems to be done with the criticism over Ethereum. The Ethereum co-founder has proposed sweeping changes to the network, including increasing gas limits by a staggering factor of 100 through EIP-9698.

This ambitious plan, aiming to raise the block gas limit from 30 million to 3 billion, would dramatically increase transaction throughput without a hard fork. The goal is to scale Ethereum without breaking it. Buterin has also floated the idea of replacing Ethereum’s virtual machine with RISC-V, a modern, open-source instruction set that could bring more efficiency and extensibility to the blockchain.

If realized, these changes could help Ethereum keep pace with the growing demand for scalability in a multichain world.

#4 Ripple’s $5 Billion Bid for Circle Rejected

Ripple’s ambitious $5 billion bid for Circle has been rejected. Circle, the issuer of USDC, opted to remain independent, leaving Ripple’s stablecoin project (RLUSD) to go head-to-head with USDC in the ongoing battle for dominance in the stablecoin market.

The story isn’t over though – Ripple’s goal of providing global liquidity via blockchain tech remains a huge part of its long-term strategy. It will be interesting to see whether Circle’s decision will pay off, or if Ripple’s moves will leave them in the dust.

#5 World Brings Iris-Scanning “Orbs” to U.S. Cities: Biometric Crypto Wallets Are Here!

Sam Altman’s blockchain project, World, is rolling out eye-scanning “orbs” in U.S. cities to mainstream biometric-secured crypto wallets.

These biometric orbs are designed to make crypto transactions more secure and user-friendly, eliminating the need for complex passwords or hardware wallets. If successful, this could be a game-changer for crypto adoption, providing a more convenient and secure method for users to access their digital assets.

Add in partnerships with Visa and Tinder, and it’s clear that World has big plans for integrating crypto into everyday life.

#6 Tether’s $1 Billion Profit

Tether’s latest quarterly report shows an impressive $1 billion profit, largely driven by its massive holdings in short-dated U.S. Treasury securities.

Tether now holds a record $120 billion in these Treasuries, positioning itself as a key player in dollar-backed liquidity.

#7 WLFI Partners with Pakistan Crypto Council

World Liberty Financial (WLFI), backed by the Trump family, has teamed up with the Pakistan Crypto Council to support the country’s growing crypto ecosystem.

This partnership is focused on launching regulatory sandboxes, promoting stablecoin use in remittances, and exploring decentralized finance.

Pakistan’s growing interest in crypto and blockchain technology is clearly catching the attention of major players. However, the timing amid global tensions certainly raised eyebrows.