Charles Schwab's $26B takeover of TDAmeritrade casts uncertainty over crypto trading ambitions
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Quick Take
- Charles Schwab is set to take over rival TDAmeritrade in a $26 billion deal
- Schwab and TD have taken two very different approaches to the crypto market
- TD has focused on education, whereas Schwab has steered clear of the market
- The deal casts doubt on the potential for crypto trading on TD, which is bad news for Chicago-based crypto exchange ErisX
Charles Schwab’s announced intention to acquire rival TDAmeritrade was a watershed moment for the brokerage industry, following weeks of speculation and a market-wide race to zero-commission stock trading. The deal, which could close in the second half of 2020, is valued at $26 billion, and will result in a company overseeing $5 trillion in assets […]
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