Wall Street Is Coming for Crypto—Whether Early Believers Like It or Not - Decrypt

Decrypt
Decrypt

27 Jun 2023 9:58 PM

BlackRock's Bitcoin ETF bid signals robust interest in cryptocurrencies among financial institutions, an inevitable trend, some experts say....

  • David Schwed, COO of Halborn, attended Money20/20 and was happy to see traditional financial institutions like JP Morgan, Citibank, and Goldman Sachs present.
  • Schwed believes there is a huge market for big banks to enter the crypto industry.
  • Traditional finance appears poised to gain ground in the crypto industry.
  • Schwed believes crypto will always have anti-establishment actors, but they will likely shrink or pivot toward privacy coins as regulators turn up the heat.
  • BlackRock's bid to establish America's first spot-based Bitcoin ETF could be a game-changer.

The article presents a mix of positive and negative sentiment. On one hand, there is excitement about traditional financial institutions entering the crypto industry and the potential for a game-changing Bitcoin ETF. On the other hand, there is concern about the shrinking anti-establishment faction and the increasing regulatory pressure.

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You May Ask

What was David Schwed's reaction to seeing traditional financial institutions at Money20/20?Why does Schwed believe there is a huge market for big banks to enter the crypto industry?What is the potential impact of BlackRock's bid to establish America's first spot-based Bitcoin ETF?What is the concern about the shrinking anti-establishment faction in the crypto industry?What is the sentiment toward regulations in the crypto industry?

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