What you absolutely must know:
- The head honcho of digital assets at Morgan Stanley has decided to trade Wall Street for Swiss chocolate and crypto. He’s off to launch a firm in Zug, of course, because why not?
- Andrew Peel, in his infinite wisdom, bid adieu to Morgan Stanley in March and is ready to start begging for funds for his latest venture. All in the name of DeFi, naturally.
And so it begins. Andrew Peel, once the illustrious head of digital asset markets at Morgan Stanley, has officially thrown in the towel to chase the ultimate crypto dream in Switzerland—specifically, Zug, because why not be in a tax haven when you’re dealing with cryptocurrency?
In his new role, Peel plans to dabble in the fine art of tokenized funds and some nifty trading tools. His mission? To create a bridge, possibly a gold-plated one, between the tried-and-true world of traditional finance and the wild, unpredictable jungle of decentralized finance (DeFi). All this, according to Bloomberg. Clearly, the man has vision.
Peel, who once graced the trading floors of Credit Suisse (until 2018, of course), resigned from his Morgan Stanley post back in March, but fear not, dear reader. His true purpose is about to unfold as he readies himself to “fundraise” for his new venture. Grab your wallets, folks, the crypto circus is coming to town.
This comes at a time when Morgan Stanley, in its infinite wisdom, is gearing up to offer retail crypto trading on E*Trade next year. Just another feather in the cap of their crypto ambitions, as if access to Bitcoin funds for institutions wasn’t already enough to fill their vaults. But, of course, they can’t just sit back and watch the other kids play in the crypto sandbox.
Meanwhile, Wall Street’s fascination with digital assets is growing faster than a Bitcoin price spike during a bull market. Policy changes in the U.S. are making it all the more alluring, especially with firms like BlackRock and Franklin Templeton jumping on the tokenized funds bandwagon.
A spokesperson from Morgan Stanley, ever the picture of discretion, declined to comment to Bloomberg. Well, we wouldn’t want to spill the beans now, would we?
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2025-05-13 19:19