Wrapped Bitcoin

Bitcoin

DeFi

Planet

<div class="intro-text"> 
 Howard Lutnick, CEO of financial asset management firm Cantor Fitzgerald, has highlighted regulatory challenges as a significant barrier to increasing Bitcoin adoption among traditional financial institutions. 
</div> 
In a<a style="color: #0000ff;" href="https://twitter.com/howardlutnick/status/1831080474124681316?t=N1T_-RQJci0oM1-JG6ZzOA&amp;s=19"> recent post</a> on X, Lutnick explained that U.S. banks are hesitant to hold Bitcoin due to regulations requiring them to set aside equivalent capital, making the practice impractical. He asserted, 
<blockquote>
 “If the regulatory environment were more favourable, traditional financial firms would eagerly invest in Bitcoin.”
</blockquote> 
This is not the first time Lutnick has made such comments. In July, while speaking at the Bitcoin 2024 Conference in Nashville, Tennessee, Lutnick<a href="https://www.bloomberg.com/news/articles/2024-07-27/cantor-fitzgerald-to-launch-bitcoin-financing-endeavor"> stressed</a> that Bitcoin should be traded as universally as gold, without restrictions and pledged that Cantor Fitzgerald, as one of the largest asset management firms, would do everything in its power to make this a reality. He also revealed that Cantor Fitzgerald already holds a significant amount of Bitcoin. 
Meanwhile, Cantor Fitzgerald recently<a style="color: #0000ff;" href="https://www.prnewswire.com/news-releases/cantor-fitzgerald-to-launch-bitcoin-financing-business-302208093.html"> announced</a> its plans to launch a Bitcoin financing business. The firm, which manages U.S. Treasury trading for stablecoin issuer Tether, noted it aims to provide leverage to Bitcoin investors and has allocated $2 billion for the venture. 
According to the announcement, the new venture will collaborate with selected Bitcoin custodians, though details about partners and launch dates remain undisclosed. The firm also noted that after exhausting the initial $2 billion allocation, it intends to expand with additional $2 billion increments to support the business. 
More traditional financial institutions have been setting up crypto-focused ventures in the last 12 months. 21.co, the parent company of 21Shares, recently expanded the reach of its Wrapped Bitcoin product, 21BTC, by<a href="https://defi-planet.com/2024/09/21-co-launches-its-wrapped-bitcoin-product-21btc-on-ethereum/"> launching it on the Ethereum blockchain</a>. Eliezer Ndinga, Head of Strategy and Business Development for Digital Assets at 21.co, emphasized the company’s commitment to rigorous asset management practices for wrapped crypto assets, stating, “Users want to maximize liquidity while ensuring their wrapped assets are secured to the highest standards.” 
&nbsp; 
If you want to read more news articles like this, visit <a href="https://defi-planet.com/">DeFi Planet</a> and follow us on <a href="https://twitter.com/PlanetDefi">Twitter</a>, <a href="https://www.linkedin.com/company/defi-planet/">LinkedIn</a>, <a href="https://www.facebook.com/DeFi-Planet-129907662611402">Facebook</a>, <a style="color: #0000ff;" href="https://www.instagram.com/defi.planet/">Instagram</a>, and <a style="color: #0000ff;" href="https://coinmarketcap.com/community/profile/DeFiPlanet/">CoinMarketCap Community</a>. 
“Take control of your crypto portfolio with MARKETS PRO, DeFi Planet’s suite of analytics tools.” 
The post <a href="https://defi-planet.com/2024/09/cantor-fitzgerald-ceo-cites-regulatory-hurdles-as-key-obstacle-to-bitcoin-adoption-by-tradifi-institutions/">Cantor Fitzgerald CEO Cites Regulatory Hurdles as Key Obstacle to Bitcoin Adoption by TradiFi Institutions</a> appeared first on <a href="https://defi-planet.com">DeFi Planet</a>.

Cantor Fitzgerald CEO Cites Regulatory Hurdles as Key Obstacle to Bitcoin Adoption by TradiFi Institutions

DeFi Planet

Other articles published on Sep 5, 2024

Tomarket, Telegram’s Mini-App, Reaches 18 Million Users and Announces Token Launch and Airdrop

COTI and PriveX Partner to Accelerate Privacy-Focused Perps Trading

Russian Crypto Miners Now Required to Register by Law

Samsung Next Invests in Startale Labs Amid Blockchain Partnership with Sony

How To Cashout CS2 Skins With Cryptocurrencies

Kamala Harris Discusses Cryptocurrency Donations

Join our free newsletter for daily crypto updates!