The Lead

While government regulators ponder (that's being kind) about how to formally regulate crypto, it seems almost everyone has an opinion on whether it will be "doom" or "gloom" for Bitcoin and other cryptocurrencies. Here is a glimpse of the topic from a great "point-counter point" article by two extremely knowledgeable industry leaders on their thoughts.

Bitcoin has become a real threat to global central banks' monetary control. After years of warily watching and trying a variety of threats and initiatives to discredit Bitcoin, the gloves are coming off. Panic at the highest level.

Global central bankers, already extremely anxious about losing monetary control to the likes of Bitcoin, are going to have some very sleepless nights ahead. Nightmare type sleepless nights. Last week El Salvador's President, Nayib Bukele, signed into law legislation declaring Bitcoin to be legal tender in the country.

Regtech companies with proven products and seasoned leadership teams are well-positioned for further growth, if the latest deal between K1 Investment Management and ComplySci is indicative of what’s ahead in the fintech space.

This week, as part of its annual W Forum event, a conference focused on women financial advisors and home office staff, Advisor Group reported inflows of more than $1 billion in net new assets for the month of May to the company’s Wealth Management Platform.

BITCOIN is about to become legal tender for a sovereign country. Or, as one guy said on the moon, "One small step for Bitcoin, one giant leap for digital currency." Something like that anyway.

Blessed are the media "experts" that can be relied upon to flood the screens and pages with both bubble and doom talk at market peaks and valleys respectively. Gotta keep those viewers viewing and advertisers spending.

Bitcoin has seen quite a ride the last few weeks. Backing off the recent highs around $65K and then plunging to around $30K wiping out millions of dollars in investor holdings. Choreographed buying opportunity? Government plot to destroy crypto? Or, just a hell-of-a Smackdown playing by wrestling rules?

Last week a huge portion of the Southeast U.S. found itself out of gas. Why? Because Colonial Pipeline, the largest pipeline system for refined oil products in the U.S, suffered a ransomware cyberattack that impacted computerized equipment managing the pipeline. Simply put - no money for hackers, no gas for you.

Crypto is on a roll across the wealth management space, as Wall Street financial institutions, independent broker-dealers and RIA firms increasingly explore how to offer crypto-based financial products and strategies.