During 2016 and 2017 I worked for a very large principle trading firm. We traded crypto currencies a lot because one of the higher up traders was a true believer. I always giggled when people claimed with a straight face that crypto would destroy Wall Street; big financial firms were and still are all over crypto because they have the tools and money to handle such things.

Any idea that crypto would hurt traditional financial instituons (aside from maybe savings banks, which are generally the least noxious financial institutions around) was pure fantasy