Crypto millionaires, Eurocoins and Tether’s Punchy Landgrab
The Crypto Roundup
The number of crypto millionaires has jumped by around 40% year‑on‑year, reaching 241,700 globally.
Nine major European banks - including ING and UniCredit - announced a joint venture to launch a euro‑denominated stablecoin, planning a 2026 rollout. The move signals Europe’s desire to keep up. Global stablecoin issuance is around $300bn while European denominated stablecoin is just $600m.
Stablecoin Tether (behind USDT) is reportedly exploring raising $15–20bn in funding, valuing the firm at ~$500bn. Punchy, but if achieved pushes new limits for stablecoin everywhere.
Regulators in the UK and US are moving faster. The UK’s FCA has cut crypto registration times from 17 months to about 5 and raised its approval rate to 45 %. In the US, the SEC is streamlining crypto ETF approvals to as little as 75 days and softening its stance on broad trading platform registration, part of a wider push to reduce friction without fully rewriting the rules.
London and Washington have also launched a joint Transatlantic Taskforce for Markets of the Future. (Awful name.) It aims to align crypto and capital markets by smoothing cross-border access, setting shared infrastructure standards and improving oversight interoperability. The body must deliver recommendations within 180 days.
US regulators are stepping up scrutiny on equity moves just before companies announce crypto treasury positions. The SEC is looking at possible insider trading risks when firms buy tokens or disclose digital asset strategies.
Have a brilliant weekend.
Dan
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