Wall Street's Crypto FOMO Fades After Market Fall, US Watchdog Says
- OCC Acting Comptroller Hsu says price decline reduced interest
- FTX collapse highlights risk, had limited impact on banks: Hsu
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Wall Street banks’ interest in crypto has significantly fallen off as digital-asset prices have tumbled, according to a top US financial regulator.
“A lot of the crypto curiosity went away,” Michael Hsu, acting head of the Office of the Comptroller of the Currency, said in an interview at Bloomberg’s Washington bureau on Thursday. “I would be astounded if a lot of banks were saying, ‘Hey, I really want to get into crypto’ now.”