Wall Street companies create cryptocurrency trading platforms

Wall Street companies create cryptocurrency trading platforms

Leading companies of the U.S. financial market began to create their own platforms for trading cryptocurrency, hoping to attract the funds of large funds.

These include Standard Chartered Financial Corporation, Nomura, Japan’s largest brokerage firm, and Charles Schwab, an American banking firm. According to the experts, leading investors “would definitely prefer to deal with influential financial institutions” that promise to provide guarantees for the safety of invested funds.

The issue of transparency in cryptocurrency business became relevant after several lawsuits against cryptocurrency exchanges related to conflicts of interest and violation of business practices. For example, the U.S. financial regulator accused the world’s largest exchange, Binance, of illegal activities in the country and hiding its ties with China. Earlier, the collapse of cryptocurrency exchange FTX revealed the illegal transfer of more than $2 billion from the hedge fund Alameda Research to the account of the cryptocurrency company owner.

The bitcoin currently stands at $27,100, down nearly 60 percent from its November 2021 high of $69,000.

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