Monex thinks about buying Coincheck, more institutional money may be coming into crypto

Japanese Brokerage, Monex, is thinking about buying into the Crypto game by acquiring Coincheck, the Japanese exchange that was hacked to the tune of $500 million dollars last month. This represents more institutional money pouring into cryptocurrencies. Many Asian institutional investors are getting into cryptos and I think western institutional money will soon follow in the coming months as signaled by Circle’s acquisition of Poloniex earler this year. This is good for those of us who are in it to make money but could be bad for the ‘crypto purists’ who are all about a decentralized economy and turning the banking system upside down. If you are hoping cryptocurrency completely obsoletes the current banking system and replaces central banks and government, you are probably going to be in for disappointment. The influx of western institutional money into the Crypto space means that the prices would go way up but it also means more cooperation with the regulators and authorities meaning crypto will have to make a compromise of its anonymous factor in exchange for government support and things like FDIC insurance of deposits and savings, something that is probably more important to more people that its feature of completely anonymous transactions. But for those of us wanting to make 10x or even 50x our investment, this could be the big break we were waiting for.

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