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State Street Thinks You’ll Fall for Its Tokenized Assets Scam So Hard It Just Rolled Out a Whole New Division

Crypto NewsRegulation/Negotiation 3 Doug Martinez August 22, 2024

An illustration of State Street's logo being wrapped around a token with an arrow pointing upwards in a rising stock graph background while its competitor is shown falling down. The scene takes place on top of a large coin, symbolizing assets under custody/administration ($44.3 trillion). A subtle blockchain pattern can be seen at the bottom to represent digital asset infrastructure and connectivity.

Here we go again with another attempt by traditional finance to get in on the crypto gravy train. State Street is trying its hand at “digital assets” because who doesn’t want a piece of that sweet, sweet HODLing action? The thing is, it’s not like they’re actually getting into cryptocurrency or anything; nope, just tokenization and digital custody. Because what every market needs more of is another layer of intermediaries taking their cut.

Source: bitcoin.com

State Street Partners With Taurus to Boost Digital Asset Services
https://news.bitcoin.com/state-street-partners-with-taurus-to-boost-digital-asset-services
Global financial services provider State Street has announced a strategic partnership with digital asset infrastructure provider Taurus to enhance its digital asset services. This collaboration aims to offer a comprehensive digital platform, including tokenization and digital custody, expanding State Street’s existing capabilities in fund administration. State Street Corporation (NYSE: STT) announced a strategic partnership with digital asset infrastructure provider Taurus SA on Tuesday. State Street, a leading global financial services […]

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About the author

Doug Martinez

Doug’s foray into NFTs was a monumental disaster, losing his entire life savings on digital junk that turned out to be worthless. Fueled by a mix of rage and disbelief, Doug crafts scathing, darkly comedic articles about the NFT madness. His writing cuts through the hype with bitter clarity, exposing the folly of the NFT craze. When he's not raging about his losses, he’s probably still trying to comprehend why he fell for this ludicrous scam.

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Disclaimer

The content presented on this site is intended solely for entertainment purposes and should not be taken as factual or reliable information. This site employs satire and humor to discuss global news, current events, finance, and cryptocurrency. The views expressed here are not meant to be taken seriously and do not represent the opinions of any individuals, organizations, or entities discussed.

Please be aware that the content may be exaggerated, fictionalized, or otherwise altered to create a comedic effect. It is not intended to provide financial advice, make accurate predictions, or offer any serious commentary on current events or financial markets.

Readers are encouraged to verify any claims or statements with credible sources and should not make any decisions based on the information provided here. This blog is not responsible for any actions taken based on its content. Always consult a qualified professional before making any financial or investment decisions.

Please do not hesitate to contact us if you have any questions or concerns.

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