Morgan Stanley acquires crypto-friendly brokerage firm E * Trade for $ 13 billion

Author: Liang CHE

Source: Tweet bitpush.news

Morgan Stanley acquires crypto-friendly brokerage firm E * Trade for $ 13 billion.

According to the Wall Street Journal, this is the largest acquisition by a major US bank since the 2008 crisis. E * Trade is also a crypto-friendly brokerage company. There are unconfirmed news that E * Trade is preparing to launch Bitcoin and Ethereum trading services.

Since November when E * Trade's two main competitors, Charles Schwab and TD Ameritrade, merged, its outlook has been uncertain. After the acquisition, E * Trade will bring 5 million personal customers, $ 360 billion in assets and an online bank to Morgan Stanley.

Morgan Stanley CEO James Gorman said that E * Trade CEO Michael Pizzi will continue to operate the electronic brokerage business.

Morgan Stanley already has 15,500 human consultants to meet the needs of millionaires. Last year, Morgan Stanley launched an online service tool to serve customers with less assets and complex financial lives. E * Trade will join the wealth management unit, which will have more than 8 million users and $ 3.1 trillion in client funds once the transaction is completed.

Gorman said he has been following E * Trade since he became an executive at Merrill Lynch in 2002.

Reprint must indicate the source.

Disclaimer: All articles in Bibei represent the views of the author and do not constitute investment advice. Investment has risks and consequences.

We will continue to update Blocking; if you have any questions or suggestions, please contact us!

Share:

Was this article helpful?

93 out of 132 found this helpful

Discover more

Blockchain

From EOS, Sun Yuchen and Ownen Cong, ADA founder Charles Hoskinson took turns to diss it again.

The dilemma of EOS seems to be far from cooling. Block.one's June conference did not release "disruptive&qu...

Market

Bitcoin Hits $45,500 as Bulls Continue to Dominate

Bitcoin's strong price performance persists as it faces a crucial challenge to reach $45,000.

Blockchain

Cardano (ADA) Price Breakout: History May Repeat Itself 🚀📈

According to an analyst, Cardano's price has the potential to surpass $8 based on historical patterns. This suggests ...

Market

Bitcoin ETFs See Strong Inflows as Bitcoin Bulls Charge Ahead 💪🚀

Bitcoin and several other altcoins have successfully surpassed their previous overhead resistance levels, demonstrati...

Market

Bitcoin, Ethereum, Solana, Binance Coin, XRP, Cardano, Avalanche, Dogecoin, Chainlink, Polkadot price analysis for 2/16

Bitcoin's strong upward momentum may encounter resistance around $52,000, but any potential decrease is expected to b...

Blockchain

Big Updates, Big Things In Store: Cardano Soars with Bullish Momentum 🚀

A recent Essential Cardano report highlights the latest advancements from Input Output Global (IOG) in the ecosystem,...