Exclusive 2025 Report: The Banks Betting Big on Crypto—And Those Running Scared

Wall Street's love-hate affair with digital gold just got messier. While some legacy players dive headfirst into blockchain, others cling to their vaults like it's 1999. Here's who's placing their bets—and who's folding.

The Bullish Brigade

JPMorgan's Onyx division now settles $1B daily in tokenized assets—quietly becoming the whale no one talks about. Citi's crypto custody platform went live last quarter, with Goldman scrambling to match their tech by EOY. Even BNY Mellon jumped in, offering BTC futures to clients despite the SEC's side-eye.

The Paper Hands Club

Wells Fargo still bans crypto purchases on its cards ("volatility risks"—says the bank that overdrafted grandma 3M times last year). HSBC CEO recently called blockchain "a solution in search of problems"—right before their stablecoin pilot collapsed. And Deutsche Bank? Stuck in regulatory purgatory after their "accidental" $9B crypto transfer incident.

As CBDCs loom, the smart money's hedging: adapt or watch your SWIFT fees become relics. Just don't expect the laggards to admit they're wrong—bankers would rather eat a private key than say "I FOMO'd."

Banks That Support This Bill

Trump’s Big Beautiful Bill has started to divide the banking entities already, with major banks coming out to support the bill. In a letter published by the American Bankers Association, OBBB is undoubtedly one of the finest bills presented in a long time.

Said David Seif, Nomura’s chief economist for developed markets. (CNBC)

In addition to this, Citi strategists have also been singing praises about Trump’s big, beautiful bill.

.Citi experts wrote.

Banks That Criticize The Big Beautiful Bill

While leading banking entities have come forward to support Trump’s OBBB, banks such as the nonpartisan Congressional Budget Office and Morgan Stanley have raised concerns over the rising fiscal deficit that the bill brings to the table.

Erica York, vice president of federal tax policy at the Tax Foundation’s Center for Federal Tax Policy, told CNBC

Musk Challenges Trump Over OBBB

In a new development, Elon Musk has pledged to launch a new political party dubbed the America Party if Trump’s OBB bill is launched in the market.

What’s the point of a debt ceiling if we keep raising it?

Musk stated that the bill is playing a pivotal role in increasing the US debt ceiling, making it unsustainable for the US economy.

If this insane spending bill passes, the America Party will be formed the next day.

Our country needs an alternative to the Democrat-Republican uniparty so that the people actually have a VOICE.