NEWS DIGEST – 25.09.2025π
1) π¦ Nine European banks team up to launch a MiCAR-compliant euro stablecoin
Whatβs new: ING, UniCredit, KBC, CaixaBank, Danske, SEB, Raiffeisen, DekaBank and Banca Sella have formed a consortium to issue a euro-denominated, MiCAR-regulated stablecoin, expected to roll out in H2 2026. The entity will be headquartered in the Netherlands under e-money licensing. Β
Why it matters: This is a major push by legacy institutions into on-chain payments and programmable money under regulatory cover. If successful, it could accelerate stablecoin adoption in the EU and reduce dependence on U.S. issuers. Watch licensing, reserve structure, cross-border settle flows.
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2) π Ether slides below $4,000 amid macro and shutdown fears
Whatβs new: ETH dropped ~4.7%, touching a ~7-week low, as broader markets sell off alongside rising odds of a U.S. government shutdown. Β BTC also slid ~1.7%. Β
Why it matters: The move shows fragility in risk assets when macro uncertainties intensify. Ethereumβs drop below a key psychological level may invite technical selling. If macro stress continues (shutdown, inflation), crypto could remain under pressure.
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3) πΈ Rate cut eats into stablecoin issuer revenue β ~$500M annual hit
Whatβs new: The Fedβs recent 25 bps cut is projected to reduce revenue for major stablecoin issuers by up to $500 million annually, given lower yields on collateral (T-bills, deposits). Tether alone faces ~$325M impact. Β
Why it matters: A blow to the business model. Stablecoin issuance, redemption & reserve management depend heavily on spread income. To compensate, issuers may raise fees, tighten reserves, or hunt yield elsewhere β adding risk or cost to users.
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4) π Bitcoinβs September gain βtepidββlags gold & Nasdaq
Whatβs new: Despite a ~4.3% rise in September, Bitcoinβs performance trails gold and the Nasdaq, fueling questions about rotation, capital flows, and relative appeal vs. traditional assets. Β
Why it matters: Suggests that cryptoβs momentum is not yet dominant. If investors see better opportunities elsewhere (e.g. tech equities, commodities), capital might flow out. For bulls, sustainable breakout needs not just gains but outperformance.
