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Fed Rate Cut Lands, Markets Shrug The U.S. Federal Reserve delivered its third interest rate cut of the year, trimming rates by 0.25% to a target range of 3.50%–3.75%. This move was widely expected (markets had essentially priced it in), so it barely moved crypto prices. Fed Chair Jerome Powell struck a cautious tone, calling the outlook “challenging” with no “risk-free path” ahead. $Bitcoin initially ticked up on the news, then dumped back down as traders realized nothing fundamentally changed. In short, the crypto market yawned at the rate cut. Stablecoin Issuers Get U.S. Bank Charters U.S. regulators crossed a major line this week by letting several big crypto players effectively become banks. The OCC (Office of the Comptroller of the Currency) gave conditional national trust bank charters to five crypto firms: Ripple, Circle, Paxos, BitGo, and Fidelity Digital Assets. These companies collectively issue major stablecoins (think Circle’s USDC and Paxos with PayPal’s PYUSD), so plugging them directly into the Federal Reserve’s system is a huge step. Backed by the new GENIUS Act law, the move enables 24/7 stablecoin settlement via the Fed and cuts reliance on traditional banks. Not everyone’s thrilled, though – some banking experts warn this could blur the lines of what it means to be a bank. Terra’s Do Kwon Sentenced to 15 Years Do Kwon – the cryptocurrency mogul behind the infamous TerraUSD (UST) stablecoin and Luna token collapse – is headed to prison. A U.S. federal judge slapped Kwon with 15 years behind bars for fraud, even more time than prosecutors requested. The judge didn’t mince words, calling it a “fraud of epic, generational scale” that wiped out investors and helped trigger 2022’s crypto winter. Kwon’s Terra empire vaporized $40 billion in value when UST and Luna imploded, so this sentencing brings a sense…

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Filed under: News - @ December 13, 2025 2:24 pm