Important Altcoin Comment By Michael Moro

An important altcoin comment was made by Michael Moro. The CEO said that a lot of money was shifted to these 4 altcoins.

The CEO of a company that has completed nearly $200 billion in crypto transactions this year shared 2 emerging trends in the $2.9 trillion crypto market and breaks down the institutional investors' approach to altcoin projects. Michael Moro is the CEO of Genesis Trading, a crypto store for institutional investors. He told Insider about the evolution of the firm's crypto lending, transactions, and investor base since 2013. Moro also talked about how institutional investors approach altcoin projects in two different ways. In a sign of how much the crypto market has evolved from 2013, Michael Moro said that a once high-net-worth investor arrived with a suitcase of cash to purchase the nascent cryptocurrency. Moro reminded that the customer in question did not introduce himself, but instead started to open his suitcase full of cash to prove that he had the ability to pay. Moro said, "Obviously, we had to escort the gentlemen out of our building. But this is symbolic of what the crypto landscape was like in the early days." Genesis not only trades with some of the largest institutional investors in the world, but is a formidable force in crypto lending, custody and prime brokerage. According to the firm's latest quarterly report, Genesis processed nearly $200 billion worth of crypto transactions during the first nine months of the year. According to the firm's latest quarterly report, Genesis processed nearly $200 billion worth of crypto transactions during the first nine months of the year. Building a "one-stop" crypto store that mirrors a traditional Wall Street firm is a massive undertaking. On the one hand, Moro and his team were considered “suits” in the eyes of early Libertarian Bitcoin adopters. On the other hand, the traditional financial industry wanted nothing to do with a cryptocurrency that was once associated with drugs, fraud, and ransomware. Moro said the following: “It took us a long time to build the trust necessary within the initial Bitcoin community. We know we are not the bad guys, we are not their enemies, and we want to help Bitcoin succeed and become a larger and more valuable asset class.”