TradFi will remain ‘mostly out’ of Crypto, says BitGo CEO

AMBCrypto
AMBCrypto

28 Jun 2023 2:30 PM

BitGo CEO Mike Belshe believes that traditional financial (TradFi) firms will remain mostly out of crypto....

  • BitGo CEO Mike Belshe believes that traditional financial firms will mostly stay outside of the crypto space.
  • U.S. regulators have taken a strict stance towards the crypto industry, while regulators outside the U.S. provide clearer regulatory channels.
  • Belshe proposes that crypto businesses and traditional financial institutions work together to build a better, more secure market.
  • BitGo abandoned its plan to acquire Prime Trust due to rumors of insolvency, but Belshe mentioned that other acquisitions are on the way.
  • Belshe predicts consolidation in the crypto custodian platform industry within the next six months.

The overall sentiment of the article is neutral. It discusses the perspectives of BitGo CEO Mike Belshe on the relationship between traditional financial institutions and the crypto industry, as well as the regulatory challenges and potential acquisitions in the market.

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You May Ask

What is BitGo CEO Mike Belshe's view on traditional financial firms and the crypto space?How do U.S. regulators differ from regulators outside the U.S. in terms of their approach to the crypto industry?What does Belshe propose regarding the collaboration between crypto businesses and traditional financial institutions?Why did BitGo abandon its plan to acquire Prime Trust, and are there any other acquisitions in the pipeline?What is Belshe's prediction for the future of the crypto custodian platform industry?

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