Wall Street Banks Expand Crypto Ties Amid Trump’s Pro-Crypto Stance

Wall Street banks are embracing the crypto sector, spurred by President Trump’s crypto-friendly policies. Under his administration, institutions like Morgan Stanley, Bank of America, and RBC are revisiting crypto opportunities, anticipating a surge in IPOs from firms like Gemini and Kraken. Trump’s executive order and the SEC’s crypto task force have created a favorable regulatory climate, reigniting confidence. Banks are now eager to facilitate crypto deals and IPOs, positioning themselves for significant advisory and underwriting fees. Trump’s stance contrasts with the more restrictive policies of the Biden administration, fueling a shift in the market.