Wall Street banks 'shelved' crypto plans after 2018 crash, but insiders say they're gearing up for the next boom

Quick Take

  • Sources at Morgan Stanley say they’ve been technically “ready” to trade synthetic bitcoin since last September, theoretically waiting on just one major institutional customer to show interest
  • We recap what the big banks are working on and provide fresh insights
  • Meanwhile, new details suggest Barclays never had serious plans to trade crypto, with two employees having allegedly headlined the “digital assets project” without official senior approval
Don’t underestimate the banks’ interest in crypto; that’s the message from sources at Morgan Stanley, one of the richest institutions in the world. It’s almost difficult to believe after last year, when Bloomberg revealed four major banks had “quietly shelved” their bitcoin dreams. The banks planned to offer their giant clients a taste of crypto-derivatives […]

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May 5, 2022, 3:17PM UTC