Gnosis founder: Wall Street's entry could ruin the crypto market

Gnosis (GNO) founder Friederike Ernst stated in an interview with DL News that President Donald Trump's pro-crypto stance and the entry of traditional finance are obscuring the true potential of cryptocurrency. She argued that while large banks and fintech firms are entering the market following the Trump administration's favorable policies, the fundamental purpose of crypto is not to simply enhance existing industries. Instead, Ernst believes cryptocurrency should aim to make platforms, money, and technology work for ordinary people rather than serving as tools for exploitation. She asserted that Wall Street institutions like Robinhood (HOOD) and Bank of America (BOA) would be unable to guarantee crypto's core values of individual sovereignty and ownership. Ernst emphasized that integration with institutional finance could dilute the inherently innovative nature of cryptocurrency.