Crypto spent years escaping banks, but now Kraken plans to buy one in Europe
This is a complete change in my mind of the competitive landscape, right? You have a crypto exchange that wants to become a broader financial firm, trading, payments, borrowing, saving. For customers, the appeal is that you have a one-stop shop for all of your banking and crypto needs. And for Kraken, well, they can kill crypto exchanges and banks, their competition on both sides. I mean, we spent years trying to escape the banks. Apparently, the next step is to buy one. I think that this is big news. It probably will go through, and we're going to see a lot more announcements like this, both in the European Union. You would have to imagine we will also see it beyond, because once this precedent is set, there is probably no going back.
