CNBC Crypto Trader Market Update | Litecoin Buys Stake in a Bank
In this episode of CNBC Crypto Trader CEO and Founder of Litecoin Charlie Lee talks about the reasons for purchasing stake in a bank. Token Pay and the Litecoin foundation have both purchased stake in a the same bank. "If you can't beat them join them" says Charlie Lee. By having a foot in the door with bank it will make it easier for Litecoin to get a crypto debit card that allows users to use a debit card similar to a fiat debit card. This move into the traditional banking system is a strategic move by Litecoin.
An ETF is still in the works for BTC and ETH. The SEC is expected to give a ruling in August which may help pave the way for a bright crypto future. On the 10th of August 2018 we will hopefully get a decision on a ETF going through.