Depending on who you ask, BlackRock just saved, or killed, crypto

Yo, have you heard the latest news? Wall Street is coming for crypto, and some in the community are not stoked about it. BlackRock, the world’s largest asset manager, just filed for an ETF tracking the price of bitcoin, and while it might seem like a big win for crypto, not everyone is convinced.

Sure, BlackRock has been getting deeper into the crypto game for a while now, with nearly a dozen executives focused on the space. But some are painting their move as part of a wider power shift in crypto that benefits traditional financial firms. And it’s not just BlackRock that’s getting in on the action. The launch of EDX Markets, a crypto exchange backed by Wall Street royalty like Citadel Securities, Fidelity, and Charles Schwab, has also raised some eyebrows.

Now, I’m not saying it’s time to bust out the tin-foil hats, but I can understand why some in the crypto community are skeptical of these big financial players getting involved. Crypto, with its focus on anonymity and decentralization, doesn’t exactly fit neatly into the traditional financial system. And let’s face it, Wall Street isn’t exactly known for supporting causes that could put it out of business.

Don’t get me wrong, I’m not saying all financial institutions are bad news for crypto. But we can’t ignore the fact that they’re playing for keeps. They’re not here to “lift all boats,” they’re here to “burn the boats.” And if crypto companies aren’t careful, they could be letting the fox into the hen house by partnering with these traditional finance firms.

So, what do you think? Is Wall Street’s arrival in crypto a good thing or a bad thing? Let’s discuss.