Wall Street is Looking Bullish on Crypto (Podcast)

Despite the market chill, some big banks and financial firms are looking to capitalize on digital assets.

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With all that has happened in the crypto space over the last year, Wall Street would be excused for wanting to take a rain check on digital-assets. But some big banks and large financial firms – like exchanges and asset managers – are still moving ahead with their plans.

The initiatives range from launching cryptocurrency trading platforms, offering custody of digital currencies, or focusing on how blockchain can be used to issue and trade traditional assets like bonds. Some executives at these firms see recent scandals in crypto — like the collapse of FTX — as an opportunity to capture a new market segment as the calamities are likely to invite more regulation.

And if more regulation is on the way for digital-assets, who would be better placed to offer services in the sector than a large, regulated financial institution?

Bloomberg reporter Yueqi Yang joins Bloomberg senior editor Anna Irrera in this episode to discuss the sentiments on Wall Street.

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This podcast is produced by the Bloomberg Crypto Podcast team: Supervising producer: Vicki Vergolina, Senior Producer: Janet Babin, Producers: Sharon Beriro and Muhammad Farouk, Associate Producers: Mo Andam and Ty Butler. Sound Design/Engineer: Desta Wondirad.

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