The era of high-fee crypto exchanges is over. Morgan Stanley is set to undercut Coinbase and Robinhood by offering trading at just 50 basis points—far below the 60 to 95 points charged by the current industry leaders. When a 91-year-old Wall Street bank provides cheaper access, direct custody, and seamless ETF conversions, what reason is left to stay with a dedicated crypto platform? Is Wall Street finally making crypto-native exchanges obsolete? What’s your take?
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