Nasdaq CEO Aden Friedman Says Crypto Markets are Here to Stay
Cryptocurrency is legit
Aden Friedman, the CEO of Nasdaq, has said that Cryptocurrency market is a legit market. She urged investors not to be worried about price drops since the market will be here to stay. Bitcoin and other Cryptocurrencies are the new currencies and methods of payment. This is the reason why most of the traditional investors have made up their minds deciding to be part of cryptocurrency.
The support by Nasdaq was well received in the crypto field especially after its CEO stated that they might soon launch they own exchange. In an interview on CNBC today Aden Friedman said that:
“I believe that cryptocurrencies will continue to persist. Their legitimacy is proven all that matter is how long it will take for the space to mature. Looking at it we would definitely consider providing a regular market for it.”
Nasdaq has been supporting many exchanges, and on Wednesday they collaborated with Gemini to monitor their market. They have also partnered with an ETF Firm called Reality Shares to launch two blockchain funds. Reality shares praised the Nasdaq CEO by noting that:
“If you ranked crypto interest on a scale of 0-10 then Aden Friedman would score a six. This is because she can help get the SEC comfortable with crypto trading. More to that if SEC wanted to know her opinion, then she would put her thumbs up.”
Friedman’s comments do not mean they Nasdaq already has a functioning exchange. What is there Nasdaq operates Bitcoin futures contracts. Many foreign securities exchanges are also working to make cryptocurrency tradable on the Moscow Stock Exchange already building a platform to allow trading when the area is well regulated.
Big money investors are also said to be waiting for straight rules to be written and applied before they invest their resources into the sector. A good example is George Soros whose wealth management firm which controls more than 26 million dollars is planning to start trading digital assets. The fund has already been approved to trade in cryptocurrency.
Rockefeller family venture capital Venrock has also partnered with Coinfund to fund crypto startups that can issue their own coins. There are other big investments which are also weighing the options of joining the crypto market. Most of them are afraid of the high volatility in the market and would want it regulated more to ensure that it’s stable.
The president and CEO of Blackhawk Partners which is an investment firm said it was not too late to take part in crypto investment noting that it may turn out to be the most profitable market of all times. According to the CEO: “The crypto market was still very young despite its massive explosion last year. There are many cryptocurrencies, and you need to check the ones with the best odds and which can be there in the long term.”
Blockchain technology and cryptocurrency is the future, and that’s why many banks and financial firms have pending projects in this space. Notable banks with Blockchain projects include Barclay, Citi, Credit Suisse, UBS, Goldman Sachs and MetLife.