CEO of Soros Fund Management Company: The time for encryption technology to be acquired by traditional finance is ripe

Speaking at the Bloomberg Investment Summit, Dawn Fitzpatrick, CEO of Soros Fund Management, said that the time for encryption technology to be acquired by traditional finance is ripe. “Cryptocurrencies are here to stay, and what happened recently was obviously a setback. But right now I actually think there’s a huge opportunity for existing traditional financial companies to really lead the way,” she said.

Fitzpatrick said she expected established financial firms to take over as investor confidence in some platforms waned. She also mentioned the fact that ordinary consumers and traders may benefit from this shift, as traditional institutions properly "segregate client assets." The CEO acknowledged that there is some irony in the idea of traditional financial firms taking the lead in a market defined by decentralization, but she believes the crypto industry has suffered from mismanagement so far.