Wells Fargo: Crypto has evolved into an effective portfolio option

[Wells Fargo: Cryptocurrency has developed into an effective portfolio option] On August 7th, Bitcoin Archive tweeted that Wells Fargo said that cryptocurrency has developed into an effective portfolio option.

Other news:

Opinion: Wells Fargo should allow customers to trade cryptocurrencies like bitcoin: Wells Fargo announced Friday that it is suspending demolitions, residential foreclosure real estate sales and auto repossessions in response to the COVID-19 outbreak. These moves may seem altruistic, but taking steps to get customers to buy bitcoin would be an equally beneficial service, according to the Bitcoinist article. While these moves are laudable, if Wells Fargo wants to make a real impact on the happiness of its customers, it’s time to end its draconian policy of blocking all crypto transactions. Since last year, the bank has banned its users from accessing exchanges and other institutions that provide fiat on-ramps for bitcoin. Since 2018, it has banned the purchase of cryptocurrencies through its credit cards. Opening the door to buying bitcoin will give its customers all the options they need to navigate the recession. Many people undoubtedly hold bitcoins, which they may wish to sell to pay bills. Wells Fargo made the process very difficult by preventing it from accessing bank accounts. Others may wish to use Bitcoin to send money to distant relatives, a desperate need for many across the globe, but they cannot send money without buying Bitcoin. Still, bitcoin and crypto advocates shouldn’t expect Wells Fargo to end its crypto ban anytime soon. It has proven time and again that its pursuit of profit trumps the happiness of its customers or even the simple requirement of compliance with the law. Right now, the best hope bitcoin and crypto advocates have for Wells Fargo is that it pays more respect to the reality of the impending crypto revolution. No doubt its leaders are increasingly aware of this. (Bitcoinist)[2020/3/22]

News | E-sports infrastructure provider Matcherino received $1.5 million from Wells Fargo and others to develop blockchain tools: According to The Block, e-sports infrastructure provider Matcherino received additional support of $1.5 million in the A-1 round, Galaxy EOS VC Firms such as Fund and Wells Fargo participated in the investment. Matcherino CEO John Maffei said the company is currently developing tools to leverage the EOSIO blockchain. “Future versions of the product may include blockchain functionality for metering and financial spending.” [2019/8/6]

News | ErisX hires former Wells Fargo executive as head of business development: According to cointelegraph, the US cryptocurrency exchange ErisX announced the hiring of former Wells Fargo executive Kyle Unterseher as head of business development. ErisX Chief Commercial Officer Kelly Brown said Unterseher is an important addition to the team as the firm prepares to launch a digital asset spot and regulated futures platform. [2019/3/6]