Morgan Stanley CEO Says Crypto Isn’t a Fad, Though Not Seeing Much Client Demand

Morgan Stanley CEO Says Crypto Isn’t a Fad, Though Not Seeing Much Client Demand
Morgan Stanley CEO James Gorman said that cryptocurrency isn’t a fad and it’s not going away, though he said his bank is not seeing much client demand.“I don’t think crypto’s a fad, I don’t think it’s going away,” Gorman said on the bank’s third-quarter earnings call. “I don’t know what the value of bitcoin should or shouldn’t be, but these things aren’t going away and the blockchain technology supporting it is obviously very real and powerful.”Morgan Stanley isn’t directly trading crypto for retail clients, though it does offer investors ways to buy crypto through various funds, Gorman explained.Morgan Stanley confirmed…