Announcing: Tearsheet’s Bankchain Newsletter
- Our new Bankchain Newsletter gives you a bird’s eye view of all that’s happening in the world of crypto and DeFi.
- Subscribe now to stay in the know on all things crypto.
It’s safe to say crypto has had a pretty big year. The industry attracted a record $30 billion in investments last year – more than all previous years combined in the roughly 13-year history of cryptocurrencies.
Thanks to growing acceptance and investor confidence, crypto firms secured a number of record-breaking funding rounds of up to $1 billion.
Bitcoin and Ether, the top two cryptocurrencies by market cap, both reached all-time highs in 2021. The NFT market had also hit a record $17.7 billion in sales by the end of the year. Moreover, growing interest in the metaverse created a new wave of investment opportunities for crypto enthusiasts, and is likely to drive further investment in the space.
Together, these developments signal a gradual transition toward greater institutional and consumer adoption of cryptocurrencies over the past year.
And now the big banks want in, too. Recently, banks ranging from JPMorgan and Wells Fargo to Morgan Stanley and PNC Bank have started to dip their toes in the digital asset economy and offer crypto-related services.
With crypto playing an increasingly important role in the finance and tech worlds, we decided it was time to launch a newsletter dedicated to covering the latest happenings in the space.
With our new Bankchain Newsletter, you’ll get a bird’s eye view of all that’s happening in the world of crypto and DeFi. We call this new space -- where crypto meets the traditional financial ecosystem -- Bankchain.
Interested? Subscribe here.
Very timely! Looking forward to the coverage of crypto at the intersection with the traditional financial ecosystem.
In some ways the situation reminds me of the time when “cloud computing” first arrived on the “traditional banking” scene. Most banks had massive investments in large data centers and more than few bank CIO’s argued they would never move to the cloud due to regulatory requirements, data privacy, controls, performance, and unique needs. Still, a few brave firms dipped their toes in the water and we all know what happened.
Sure, there were a few issues, but when thoughtfully deployed the fundamental benefits carried the day.
Here we go again…
Very timely! I’m looking forward to this forum on the intersection of traditional finance and crypto.
Oddly, it reminds me of the time when traditional finance first met the “cloud”. Back around 2009 banks were just starting to “dip their toes” into cloud computing. Most large banks had massive dedicated data centers and many observers said banks could never responsibly run in the cloud for a host of reasons – regulation, privacy, costs, and performance. Yet, within a very short period of time “dipping the toes” turned into a massive full-on migration.