Prop firm news

Goldman Sachs and Citigroup gave $270 million to the Faro bank stablecoin - launch in 2027

A group of major banks invested about $270 million in the Faro project - the issuance of its own stablecoin (a coin with an exchange rate pegged to the dollar). The money will cover five years of operation for the issuing company, and the coin's launch itself is stated for the first half of 2027.

US bank stocks fall for six straight weeks - worst streak since 2008

The KBW Bank Index (a stock market indicator made up of shares of the largest US banks - it is used to judge whether investors believe in the financial sector) has been declining for the sixth week in a row and has lost 11% in a month and a half. There has not been such a long streak since the 2008 crisis.