1/ BREAKING: The NYSE/ICE group officially announces they're taking Coinbase, Bittrex, Gemini & Polo head-on. Starbucks announces they'll be accepting crypto. This is the Wall St. troll of the century, folks.
2/ It is also an enormous validation of the crypto asset class. It grows the pie enormously for all of us in this industry. These are serious players making a public commitment.
3/ This is without a doubt the best news of the year for those who follow crypto price action. Obviously, the least interesting thing about crypto is the price. But you know what is interesting? Massive liquidity.
4/ You have to wonder what the crypto exchanges think about this. This is going to be a significant competitor for them, but at the same time, there's a lot more to compete for now. The addressable market will grow.
5/ The Starbucks bit is fascinating. Starbucks just said people are going to use crypto as currency and they don't want to lose out. Add that to your Venti.
6/ Here @blockchain we think about this too. We've always taken a functional- first approach to crypto. We think people are actually going to *use* this stuff to improve their lives. So yes, this is a big deal and yes, it's welcome news.
7/ On the other hand, it could have destabilizing effect on many of the major industry players. We're not excluded from that, but I worry it's going to hit the exchanges the hardest. Their spreads are not going to survive this, and those spreads are their lifeblood.
8/ Anyway, fin. Lots to digest in this announcement, not least of which is investor list! 🧐
