Wall Street's Grip on Crypto: Tether Co-Founder Sounds Alarm

Tether Co-Founder William Quigley expressed his reservations about the growing involvement of Wall Street in cryptocurrency, specifically in ETFs (Exchange-Traded Funds). He stated that he was 'happy with crypto without Wall Street' and fears that their pursuit of profit will bring unpredictable risks to the market.

Quigley believes that once Wall Street packages a new product to sell to consumers, if it's successful, there will be copycats. He cited Solana and Cardano as potential next ETF installations driven by Wall Street's relentless pursuit of profit.

The co-founder also expressed concerns about the risks associated with Wall Street investors pulling out in times of downturn, which would be a new factor for the crypto market to contend with.