After years of tiptoeing around the world of cryptocurrencies, huge financial firms are racing to lure Main Street investors into these mostly unregulated markets, seeking a fresh source of revenue. Franklin Templeton, a 77-year-old asset-management company, was named after Benjamin Franklin because he “epitomized the ideas of frugality and prudence," according to its website. “We’re always trying to stay fresh and current," said Roger Bayston, head of digital assets at Franklin Templeton. “Given the allegations at that time, we felt that removing the tweet was the most appropriate course of action," a Franklin Templeton spokeswoman said. In turn, most financial firms kept their distance from the unruly world of digital currencies.

Source: Wall Street Journal February 03, 2024 12:32 UTC