The second week of September has been exciting for the cryptocurrency markets. Arguably the biggest news is that the investment bank Morgan Stanley (MS  ) announced plans to offer Bitcoin (BTC) swap trading for its institutional clients. Morgan Stanley will offer derivative products that give traders synthetic exposure to Bitcoin futures contracts. Though the bank will not let its clients trade Bitcoin directly yet, it is attempting to build a cryptocurrency trading desk also based on derivatives. The swap products will launch after internal approval.

Here is the rest of the week in review:

Tezos (XTZ) will officially launch its mainnet on Monday. The blockchain, valued at around $1 billion, plans to switch from a beta version to a fully operational live version. The Tezos Foundation, which maintains the codebase and employs developers, believes it has solved some problems with the testnet, including network outrage and a lack of third-party validators. The Tezos Foundation is excited to release the blockchain platform to be run by its community.

GAW Miners CEO John Garza was sentenced to 21 months in prison for wire fraud. The United States government took down the controversial company, which turned out to be a Ponzi scheme. GAW, which began operating in 2014, promised investors questionable returns on virtual miners and a token called paycoin. Later, the Securities and Exchange Commission (SEC) sued GAW for violating securities laws and operating a Ponzi scheme. A federal judge also held Garza liable for more than $9 million.

Blockchain startup Paxos has received regulatory approval for its stablecoin, the Paxos Standard (PAX). The New York Department of Financial Services approved the Paxos Standard and will serve as a regulator. Paxos states that the Paxos Standard is fully backed by US dollars. It is meant to help provide liquidity for crypto traders by offering a digital dollar with the fast settlement of crypto. Paxos CEO Charles Cascarilla believes that the Paxos Standard is a game changer as a regulated, collateralized stablecoin. Currently, the Paxos Standard can only be transacted between wallets on the Ethereum (ETH) network.

Crypto prices fell slightly and largely recovered this week, still hovering just above the crucial $200 billion level. In the top 100, the biggest losers are Namecoin (NMC), down 47 percent, Nexty (NTY), down 36 percent, and ZClassic (ZCL), down 27 percent. The biggest winners are MOAC (MOAC), up 47 percent, TokenPay (TPAY), up 41 percent, and Tezos, up 38 percent. Price action this week has stayed relatively tranquil, but the crypto sector remains in a long bear market.

The author owns a small amount of BTC.