Why Wall Street Firms Are Embracing Crypto

WSJ Tech News Briefing

The Wall Street Journal

News, Tech News

4.3 • 1.7K Ratings

🗓️ 6 February 2024

⏱️ 12 minutes

🔗️ Recording | iTunes | RSS

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Summary

Wall Street has tiptoed around crypto for years. But following the Securities and Exchange Commission’s approval of spot-bitcoin ETFs last month, some financial firms seeking a fresh source of revenue are now jumping in with both feet. Firms that have a reputation for being staid and reliable are even using language popular in the crypto community, which not long ago viewed Wall Street as an ideological enemy. WSJ reporter Alexander Osipovich joins host Alex Ossola to talk about how these firms are embracing crypto—and whether they’re taking a risk as they do. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Like some kind of Pizza Ninja, Domino's are slicing their prices.
0:05.0	Domino's price slice.
0:07.0	Small pizzas now 8 quid, medium now 10 quid,
0:10.0	and large now 12 quid.
0:12.0	Yet we're making cuts too.
0:14.0	In 11th of February 24, minimum delivery spend, charges and areas may apply.
0:18.0	Tous and see, see Domino's dot code.
0:20.0	UK. Welcome to tech News Briefing. It's Tuesday, February 6th. I'm Alex Ocala for the Wall Street Journal.
0:30.0	The Securities and Exchange Commission approved Spot Bitcoin Exchange Trated Funds last month.
0:35.0	That means mainstream investors can now buy and sell crypto as easily as stocks and mutual funds.
0:41.0	The decision is already having a big impact. On today's show, we'll hear about
0:45.8	how some Wall Street financial firms like Black Rock are embracing crypto and crypto culture.
0:51.8	W.S.J. reporter Alexander Osipovich tells us how it's going and what the risks are.
0:57.3	And then, some of these firms are racing to promote Bitcoin EDFs to a new audience.
1:02.3	We'll find out what's behind the growing wave of advertising campaigns targeting baby boomers
1:07.2	from W.S.J. reporter Patrick Coffey. But first, after years of tiptoeing around the world of
1:16.3	cryptocurrencies, some huge financial firms are now jumping in with both feet, seeking a
1:21.6	fresh source of revenue.
1:23.4	They're aiming to appeal to investors and they're speaking the language of the
1:26.8	crypto community.
1:28.2	W.S.J reporter Alexander Osipovich joins us with more.
1:32.0	Alex, what are some of the Wall Street firms that are embracing crypto?
	...

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