$GATE
Cooling DownSnapshot Window: 2026-07-14 05:20 UTC · ← Back to Crypto Overview
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While crypto equities collapse (Gemini -89%, BitGo -77%, Bullish -71%), BlackRock, Goldman, JPM and Morgan Stanley just joined a UK tokenization taskforce. The speculation business is dying, not crypto. Two sets of headlines landed in the same week and I don't think enough people are putting them side by side. Set one, the carnage in crypto-native equities: - Gemini (GEMI) is down ~89% from its ~$37 open last September, trading around $4.19 as of July 7. - BitGo (BTGO) is ~77% below its January 2026 debut of $22.43. - Bullish (BLSH) is down ~71% from its $90 open in August 2025. - Plus the backdrop: spot BTC ETFs had their worst month on record in June (~$4.5B out), and Strategy became a net seller. Set two, the part that got buried: - BlackRock, Goldman Sachs, JPMorgan and Morgan Stanley joined a UK government tokenization taskforce, 54 firms strong, backed by the City of London, spending the next year on live tokenization use cases across UK financial markets (CoinDesk, this week).