Wall Street's Greed Drives Crypto ETF Frenzy

Tether Co-Founder William Quigley expressed his concerns about the increasing involvement of Wall Street in the cryptocurrency market. According to him, the 'greed' of Wall Street will lead to more and more Exchange-Traded Funds (ETFs) being created.

Quigley mentioned that Solana and Cardano are likely to be the next ETF installations, driven by Wall Street's relentless pursuit of profit. He stated that every time a new product is successful, there will be copycats, and the market will experience a 'next hot thing' trend.

The Tether Co-Founder emphasized that he was happy with crypto without Wall Street involvement, but now worries about the risks associated with traditional finance entering the decentralized space. He questioned what would happen in times of downturn, when Wall Street investors might pull out, creating an unpredictable risk factor for the crypto market.