Trump crypto plans have Wall Street CEOs ready to jump into digital assets
Top Wall Street banks say they're ready to get more active in crypto if the Trump administration rolls out favorable policies.
Just days into President Donald Trump's second administration, Wall Street is singing a different tune on crypto.
"For us, the equation is really around whether we, as a highly regulated financial institution, can act as transactors," Morgan Stanley CEO Ted Pick told CNBC on Thursday at the World Economic Forum in Davos, Switzerland.
The newfound optimism among an increasing number of bank execs who were in Davos this week is tied to Trump's pro-crypto agenda. Trump, a vocal crypto skeptic in his first term, flipped on the issue during his 2024 campaign and came to rely on the crypto industry's money in his effort to defeat former Vice President Kamala Harris.
The president on Thursday issued a sweeping executive order on crypto, with an emphasis on "protecting and promoting" the use and development of digital assets. Banks have been reluctant to support crypto and enable transactions to this point in large part because of the government's position. The SEC has brought more than 200 cryptocurrency-related enforcement actions since 2013, according to Cornerstone Research.
seems everyone wants to get into it. Let's hope they got good plans not bad plans like thenomes that ruined Fiat