Tether Co-founder Slams ETFs: 'Wall Street's Greed Will Bring Unpredictable Consequences'

Tether Co-founder William Quigley is expressing skepticism about the growing involvement of Wall Street in the cryptocurrency space, particularly regarding Exchange-Traded Funds (ETFs). In an interview with Decrypt, he stated that the increasing presence of traditional finance in crypto is a concern for him. He believes that Wall Street's 'greed' will lead to more ETF products being launched, which could have unpredictable consequences for the market.

Quigley specifically mentioned Solana and Cardano as possible next targets for ETFs, driven by Wall Street's pursuit of profit. He noted that every successful product will be followed by copycats, citing the example of Bitcoin ETFs. However, he also warned that the trend may lose momentum when investors pull out during a market downturn.

Quigley's comments reflect his concern about the risks associated with Wall Street's involvement in crypto. He questioned what would happen if Wall Street investors simply pulled out during a downturn, which could be a new and unpredictable risk factor for the market.