Richard

Bitcoin

Gary

<p>Tom Farley, former President of the New York Stock Exchange (NYSE) and current CEO of the cryptocurrency exchange Bullish, anticipates a significant influx of capital into the crypto industry upon the approval of spot Bitcoin exchange-traded funds (ETFs) by the U.S. Securities and Exchange Commission (SEC). Farley, who led the NYSE from 2014 to 2018, shared his insights during an interview with CNBC.</p>
<h2 class="wp-block-heading" id="former-nyse-boss-backs-spot-bitcoin-etfs">Former NYSE boss backs spot Bitcoin ETFs</h2>
<p>Tom Farley’s optimism about Bitcoin stems from the consistent stance of U.S. regulators, including the SEC, affirming that the <a href="https://coinmarketcap.com/currencies/bitcoin/" rel="noopener noreferrer nofollow" target="_blank">token</a> is not considered a security. Even SEC Chair Gary Gensler has emphasized that, in his view, all crypto tokens, except Bitcoin, fall under the category of securities. The potential approval of a bitcoin ETF holds promising prospects for the crypto industry, according to Farley. He envisions a scenario where money would flow into the market with greater ease, driven by the belief in Bitcoin as a groundbreaking invention.</p>
<p>The former NYSE boss emphasizes the accessibility and appeal of bitcoin, suggesting that its approval as an ETF would simplify the investment process, further fueling confidence in the cryptocurrency. Addressing the current state of the crypto market, Farley asserts that the bull market is already underway. In his assessment, the ongoing wave of the bull market will favor exchanges that prioritize trust, and compliance, and actively contribute to the development of the digital asset industry. He envisions a landscape where winning exchanges play a pivotal role in supporting and strengthening the broader crypto ecosystem.</p>
<h2 class="wp-block-heading" id="tom-farley-discusses-his-optimism-about-bitcoin-s-inflow">Tom Farley discusses his optimism about Bitcoin’s inflow</h2>
<p>Tom Farley’s venture into the crypto space, Bullish, was launched in 2021. The exchange has garnered support from prominent investors, including Peter Thiel, Alan Howard, Louis Bacon, Richard Li, Mike Novogratz, Christian Angermayer, and investment bank Nomura. Bullish made headlines with its acquisition of the well-known crypto media outlet Coindesk in an all-cash deal. The success of Bullish reflects Farley’s strategic approach to aligning with influential backers and expanding the exchange’s reach through strategic acquisitions.</p>
<p>The support from notable investors and the acquisition of Coindesk position Bullish as a significant player in the evolving crypto landscape. The former NYSE boss’ assertion that the current bull run has already commenced aligns with the broader trend of increasing institutional interest and adoption of cryptocurrencies. The recognition of Bitcoin as a unique asset class, distinct from other crypto tokens, adds credibility to its status as a potential mainstream investment. As the crypto industry continues to mature, the regulatory landscape becomes a crucial factor in shaping its trajectory.</p>
<p>Farley’s anticipation of a positive response from the SEC regarding bitcoin ETFs underscores the potential for increased institutional participation and a more accessible entry point for retail investors. Tom Farley’s insights into the impact of SEC-approved bitcoin <a href="https://www.cryptopolitan.com/crypto-eyes-potential-surge-with-btc-etf-nod/" data-type="post" data-id="410590" rel="noopener noreferrer nofollow">ETF</a>s on the crypto industry highlight the ongoing evolution of the market. The intersection of regulatory clarity, institutional involvement, and technological advancements positions Bitcoin and other cryptocurrencies for continued growth. Farley’s perspective as a seasoned financial executive provides valuable insights into the dynamics shaping the future of the crypto landscape.</p>

Former NYSE President discusses the benefits of spot Bitcoin ETFs

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