The bit about cryptocurrency. Many in the HN community are anti-crypto and with just about as much emotional enthusiasm as an anti-vaxxer. I'm a long time member of HN, before crypto became popular. I've seen the continual rise in negative sentiment. As a veteran software engineer (cutting code since I was a kid in the 80's), there's always been a purist camp that can't quite wrap their head around the financial markets. Dotcommy crypto scams aside, some equate the financial markets with 'badness' or the dark side (wallst = bad). The adoption of crypto is inevitable and unstoppable. I spend my time developing algorithms for financial markets in C, C++ and Python and have yet to see any software engineers in this camp reject crypto. I encourage all to not to throw the baby out with the bath water. Crypto is a great trading vehicle and a great way for a new breed of company to raise capital from a new and truly global capital market.
I'd encourage those that are anit-crypto in the community to adapt. I never wanted to move from real BBSs to Compuserve, but I had to. Never moved to AOL just went straight to geocities which was a mistake but here we are.
Fidelity, the largest fund manager with $6T AUM, is taking a different direction. HN won't want to hear this but here it goes: (get your pitchforks ready)
"Fidelity Investments’ new cryptocurrency company will offer trading for institutional customers in a few weeks, Bloomberg reported Monday.
Betting that the cryptocurrency bear market will turn around, Fidelity created its cryptocurrency platform Fidelity Digital Assets in October. The new company began a custody service to securely store bitcoin for its customers in March, CNBC reported. Now, it will be letting customers buy and sell the cryptocurrency in the upcoming weeks, according to people familiar with the matter.
Fidelity, a roughly 72-year-old family controlled firm, is primarily known for managing retirement plans and mutual funds. But it also spends $2.5 billion per year on technologies like artificial intelligence and blockchain.
Forty-seven percent of institutional investors think digital assets are worth investing in, according to a survey released by Fidelity on May 2.
Further, of the 450 institutions interviewed by Fidelity for research for its new company, everyone from wealthy families to hedge funds to pensions, 22% of respondents already owned a cryptocurrency.
Since the bitcoin boom in 2017, the world’s largest cryptocurrency has dropped more than 60% since its high of almost $20,000 at the end of 2017 and was trading near $5,703 on Monday.
Fidelity is only offering the crypto trade to institutional customers. Rivals like Robinhood and E-Trade Financial are taking on retail investors."