Wall Street's Greed Drives Crypto ETF Boom, Tether Co-Founder Warns

Tether Co-Founder William Quigley is expressing concerns about the growing influence of Wall Street in the cryptocurrency space. In an interview, he stated that the relentless pursuit of profit by traditional finance will lead to more and more ETFs being created.

Quigley named Solana and Cardano as potential next targets for ETF installations, driven by Wall Street's desire to capitalize on new products. He warned that every time a successful product is introduced, copycats will follow, contributing to an unsustainable trend.

The co-founder of Tether believes that the increasing involvement of traditional finance in crypto is a risk factor that could lead to unpredictable outcomes when the market experiences a downturn.