The Genuine Crypto Critics Who Unintentionally Make It Stronger

Part IV - Charles Schwab (definitely, maybe?)

Just two more days before you, the hypothetical SEC employee we created on June 1, share a draft of the next investor alert for crypto with your supervisors. This week is all about crypto critics who have genuine concerns about crypto but nevertheless call it an investment. On Monday, you started with Elizabeth Warren. On Tuesday, it was Christine Lagarde and Janet Yellen. Yesterday, it was Bill Gates and Jim Cramer. Before you recap the week tomorrow, you would like to conduct some more research. What should you focus on?

“Let me find an institutional player.” You, of course, looked at Goldman’s positions on crypto carefully and documented how their views evolved. What about another bank? Or maybe a brokerage? How about a little bit of both?

With that, you decide to research Charles Schwab. They are well known for being a brokerage, and acquired TD Ameritrade a couple of years ago, but they also have a banking arm. Have they taken a position on crypto?