Crypto exchanges have come under close scrutiny following scandalous events, but the most significant roadblock could come from Wall Street.
According to a report by FT on May 31, traditional financial institutions such as Standard Chartered, Nomura, and Charles Schwab are actively involved in developing and funding new cryptocurrency exchange and custody platforms.
The market setback and price declines have turned away many investors. But Wall Street powerhouses remain confident that fund managers still have an appetite for crypto trading.
TradeFi Giants Bring More Challenges
The recent incidents involving FTX bankruptcy and the collapse of the Terra ecosystem have highlighted the risks associated with investing through unregulated exchanges. But firms take them as major advantages.
Well-established reputation and regulated characteristics could challenge crypto-native exchanges like Binance.
Gautam Chhugani, Senior Analyst of Global…
