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Traditional finance and crypto assets are continuously breaking barriers.
PNC Financial Services Group has partnered with Coinbase to provide cryptocurrency service channels for banking clients, initially opening up to wealth management and asset management clients.
Traditional banks have finally entered the space, and this partnership marks the acceleration of the mainstreaming of crypto. I believe this is a huge boost for Coinbase, and their stock price may soar.
Today, Ark Invest reduced its holdings of Coinbase stock by $90.58 million, but overall, under the expectation of the Federal Reserve lowering interest rates, institutional participation is likely to increase. For instance, Mercurity Fintech's stock buyback reflects confidence.
In the long run? After the popularization of crypto service channels, the threshold for retail investors will be lowered, but with the regulatory draft set to be announced soon, compliant players like Coinbase will dominate the market. It is recommended to increase holdings of exchange-related assets.