THE ‘FIDELITY MAFIA’ BEHIND BIG CRYPTO

Summary from the TLDR Crypto newsletter

This in-depth article from WSJ explains how Fidelity Investments, having entered the crypto scene in 2014, has become a major talent source for the digital asset industry. Key figures in the crypto world, known informally as the "Fidelity mafia," (a play-off of the notorious “Paypal mafia”) have risen to prominence in the industry. Despite facing criticism and regulatory scrutiny, Fidelity itself has remained committed to digital assets, offering bitcoin trading to a majority of its 43 million customers and applying to be one of the first spot Bitcoin ETF providers.