The well-known crypto platform Crypto.com has just announced that it is closing its institutional services offer in the United States, citing limited demand and complicated market conditions.
End of the American dream for Crypto.com
It’s one of the crypto giants that we’ve perhaps heard the least about lately, on the back of an open war declared by the SEC, so much so that we could imagine that it would pass between the drops of the acid rain of the forced march regulation.
However, the Crypto.com platform has just announced that it is closing its services for institutional investors in the United States.
The reason cited refers to “limited demand from institutional clients, exacerbated by testing current market conditions.”
In other words, in a context of a creeping bear market, it seems that institutions are turning away from a crypto market that is at best sluggish, at worst targeted by unprecedented regulatory assaults.
The whole thing makes it difficult to read the future of the sector, exactly what institutional finance hates.
However, the more traditional Crypto.com services remain accessible to the general public. If the situation in the USA is not the most encouraging, Crypto.com will console itself with good progress in Asia.
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