ChainCatcher news, recently, Forbes contacted 50 top leaders on Wall Street, including billionaire investors, major institutional asset management firms, and the largest wealth advisors in the United States, to gauge their level of support for President Trump's economic strategy since taking office.These 50 respondents were selected for their significant influence. Among these Wall Street heavyweights—more than half of whom supported his economic policies when Trump returned to the White House in January—72% stated that the Trump team's economic plan is ineffective, and 66% do not support his economic policies. Among those who supported Trump just weeks ago, more than a third no longer back his economic policies, with the majority (54%) indicating that Trump has failed to implement his plans.Forbes also surveyed these Wall Street moguls on specific aspects of Trump's economic policies, asking them to rate them on a scale of 1 to 5, with 5 being the most favorable score. Their ratings were mostly poor. On the issue of tariffs, Trump received a score of 1.86 (out of 5), with 27 respondents giving the lowest rating. In terms of the stock market, his score was similarly dismal at 1.96 (25 respondents rated him a 1 out of 5), while the executive order targeting law firms was almost equally poor at 2.10—this is a direct attack on the rule of law that underpins the American free enterprise system. The ratings for cryptocurrency (2.0) and inflation (2.16) were also disappointing.

ChainCatcher news, according to Bloomberg, so far, crypto-native companies like Coinbase Global Inc. and BitGo Inc. have been the dominant service providers, while traditional financial firms mostly remain in a holding pattern due to concerns over regulatory uncertainty surrounding digital assets.Although the current custody market is only about $300 million, the business remains attractive, with companies like Fireblocks Inc. estimating an annual growth rate of around 30% for the industry.Leading custody banks such as BNY Mellon, State Street Corp., and Citigroup Inc. have begun to dip their toes into the cryptocurrency custody space or have expressed interest. Despite facing setbacks, these companies are experimenting, with many plans focused on the protection of tokenized assets.For example, JPMorgan Chase & Co. operates a project called Onyx, which allows blockchain payments between bank clients. In December last year, a custody trust and clearing company acquired Securrency to provide products for tokenizing traditional financial assets. In August of this year, State Street chose the vendor Taurus for the tokenization and custody of digital asset services.One major issue hindering the entry of established financial institutions is a U.S. SEC regulation known as SAB 121, which prevents highly regulated financial companies from offering cryptocurrency custody services. President Biden vetoed efforts by Congress to overturn the rule. Several banks have received exemptions.

ChainCatcher news, according to Bitcoin Magazine, Howard Lutnick, the CEO of Wall Street bond trading giant Cantor Fitzgerald, will speak at the Bitcoin conference in Nashville next week.