When Main Street Banks Dabble in Crypto

Like most crypto-adjacent firms, fiat banks that diversified into crypto have struggled during the crypto winter. And this was likely the case even BEFORE crypto exchange FTX declared bankruptcy in November 2022. We’ll find out exactly how many of them are doing in the coming weeks, as earnings reports trickle out. But generally, banks that got into crypto benefited during digital currency’s rise, and have struggled since last spring, when the digital asset sector took a downward plunge. In this episode, Bloomberg’s Max Reyes offers up a pre-earnings preview of these banks, and where they go from here. Subscribe to the Bloomberg Crypto Newsletter at https://bloom.bg/cryptonewsletter

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