Cryptocurrency hopefuls want to believe that Wall Street is just another eager investor, ready to pump money into the growing crypto market and enjoy the same returns that retail traders have seen every time the value of the cryptocurrency has skyrocketed. But that projection misses the mark in two ways: first, Wall Street is already neck-deep in the cryptocurrency market; and second, the last thing Wall Street intends to do is pump the precarious market with its own capital.
Institutional finance has had many opportunities to make money in the cryptocurrency space. But, as its influence spreads, the cryptocurrency market is transforming into something new. Whether intentionally (or as a byproduct of its own flaws), Wall Street could slowly be killing cryptocurrency.
