Fed rate moves can disrupt crypto leverage markets, ECB study finds

15th September, 2026

Zak Jakubowski
ECB building

Federal Reserve policy changes can push stablecoin lending rates in decentralised finance (DeFi) in the opposite direction to conventional interest rates, as crypto investors adjust leveraged positions, according to research published by the European Central Bank.

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ABN AMRO
Bank of America
CBOE
Citi
Goldman Sachs
DRW Holdings
HSBC
J.P Morgan
Marex
Morgan Stanley
SGX
SocGen
Susquehanna
MUFG Investor Services
TP ICAP
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