Crucial Crypto News: Morgan Stanley’s E*Trade Plan, Worldcoin US Launch, and Ripple’s Rejected Bid
Staying updated in the fast-paced world of digital assets is key. Here’s a look at today’s top crypto news making waves across the industry, impacting everything from major banks to innovative identity projects and significant corporate maneuvers.
Morgan Stanley ETrade Crypto: A Deeper Dive into Digital Assets?
Banking giant Morgan Stanley is reportedly planning a significant move into retail digital asset trading. Sources indicate the firm intends to enable Morgan Stanley ETrade crypto trading on its E*Trade platform as early as 2026. This initiative is said to be in its initial stages, with Morgan Stanley exploring potential collaborations with established crypto service providers. Internal discussions about supporting cryptocurrency trading for a broader client base reportedly began in late 2024.
This wouldn’t be Morgan Stanley’s first engagement with digital assets. The bank’s wealthier clients already have access to crypto exchange-traded funds (ETFs) and futures. Furthermore, the firm’s advisors received approval to discuss Bitcoin ETFs with clients starting in August 2024, signaling a gradual embrace of the asset class.
Worldcoin US Launch: Expanding Digital Identity
OpenAI CEO Sam Altman’s digital identity project, World (formerly Worldcoin), has officially entered the United States market. On April 30, World announced its debut in several key innovation hubs, including Atlanta, Austin, Los Angeles, Miami, Nashville, and San Francisco. The core of the project involves a device called the Orb, which scans a user’s face and eyeballs to verify their humanity. Users who complete this verification receive a World ID and can claim the project’s crypto token, WLD.
The decision to launch in the Worldcoin US market follows previous caution due to regulatory uncertainties. The firm now appears more confident, potentially influenced by shifts in the regulatory landscape. Alongside the US launch, World also announced a partnership with Visa for a payment card utilizing WLD and a pilot program testing World ID integration with online dating platforms owned by Match Group, including Tinder and Hinge.
Ripple Circle Bid: Acquisition Attempt Reportedly Rejected
Blockchain payments company Ripple reportedly made a substantial offer to acquire stablecoin issuer Circle. According to reports from April 30, Ripple’s bid ranged between $4 billion and $5 billion. However, the offer was reportedly rejected by Circle, deemed insufficient. As of the report, Ripple had not indicated whether it would make a revised offer for the stablecoin firm.
This reported Ripple Circle bid comes less than a month after Circle filed for an initial public offering (IPO) in the US, suggesting Ripple may have sought to acquire the company before it went public. Ripple has been active in corporate acquisitions, recently purchasing prime broker Hidden Road for around $1.2 billion in April to support its XRP and XRP Ledger activities. While Ripple was reportedly valued at $11 billion in 2024, CEO Brad Garlinghouse has since called that estimate outdated, indicating the company’s valuation context is dynamic.
Summary of Today’s Crypto Headlines
Today’s top crypto news highlights continued institutional interest, expansion of innovative projects, and strategic corporate moves within the digital asset space. Morgan Stanley’s plans for E*Trade signal a potential increase in mainstream access to cryptocurrency trading. Worldcoin’s entry into the Worldcoin US market pushes forward its unique approach to digital identity verification. Meanwhile, the reported Ripple Circle bid underscores the ongoing consolidation and strategic maneuvering among major players in the industry. These developments collectively paint a picture of a dynamic and evolving market, constantly presenting new opportunities and challenges.
