Even as crypto firms are able to raise billions in capital they are still largely shut out of the banking system as most banks view their business models as a big regulatory risk; Robby Houben, a lawyer and professor at the University of Antwerp, explains to American banker, “I have met some really stand-up people in crypto that don’t deserve such a bad reputation and want the sector to be regulated, yet for every one of those, there are plenty of others trying to scam the public, launder money or evade taxes.”; some smaller banks like Silvergate Bank have started to fill the void left by big banks but they can only serve so much of the market; until there is regulatory clarity the struggle will continue for emerging crypto firms. Source.
Todd is the host of PitchIt: the fintech startups podcast, a weekly interview show featuring emerging fintech founders and leading venture capitalists. He is responsible for leading the content team which covers fintech through daily & weekly email newsletters, editorial, virtual events, and in-person conferences. He has been covering fintech, banking, and venture capital for more than 15 years, including speaking regularly at industry events.