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

News

Policy reshuffle is intensified: the crisis and new life of virtual currency exchanges

The virtual currency exchange industry may have to "change the sky", which seems to be the consensus of the...

Market

With the entry of big players and the halving narrative, is now the best time to buy Bitcoin?

Using the term "ups and downs" to describe the trend of BTC since June is not an exaggeration, or more precisely, it ...

Blockchain

The cryptocurrency exchange "closed tide", running to catch up with P2P

The cryptocurrency exchange, once regarded as “stable and not paying”, is more crazy than other fields,...

DeFi

White Paper's publication has reached its 15th year, how has the Bitcoin ecosystem evolved?

In the world of encryption, a document's status is equivalent to the Bible and the Declaration of Independence. It is...

Market

Interview with Circle CEO by Fortune What role does stablecoin play in the cryptocurrency market?

This article discusses the differences between the cryptocurrency crash in 2022 and the late 1990s internet bubble, t...

Blockchain

The history of the rise and fall of the exchange: an important silhouette of the development of blockchain

Original from: blog.nomics.com Author: Nathaniel Whittemore & Clay Collins Compilation: Orange Book There may be ...