Cardano’s CEO Discusses Bitcoin’s Possibilities, Stating, “We Are Holding On To Wall Street, And That’s Regrettable”

“Wall Street is creeping back into our space, isn’t it? It seems to be returning. We’re really not moving away from it. And I believe that’s a significant disappointment,” stated Frederik Gregaard, CEO of the Cardano Foundation, at the Paris Distributed database Week on 10 April 2025. “This is certainly not the direction I wish to pursue,” Gregaard emphasized. “The concept of BTC was about providing the average individual with economic opportunities and the ability to engage in a world from which we were excluded.”

The head of the Swiss-based non-profit organization took the podium to talk about AI, blockchain, and the emerging economy. He also touched upon MiCA briefly.

“Our P&L and balance sheet are already on the blockchain. Next, we aim to place all accounting and finance data on-chain as well,” declared the Cardano Foundation’s CEO.

“I spent a few hours at the Ministry of Finance and Economy yesterday to engage with policymakers and regulators regarding MiCA,” he mentioned. “Certainly, many of us here in Paris and throughout Europe feel that MiCA is approaching quite rapidly, perhaps a tad too quickly.”

Cardano Foundation is transitioning their financials on-chain.

“Our P&L and balance sheet are on the blockchain. Next, we’re putting all accounting and finance info on-chain too.”

From @F_Gregaard at @ParisBlockWeek pic.twitter.com/pTarBuLEHy

— Cardanians (CRDN) (@Cardanians_io) April 11, 2025

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“Is there a way for us to shake things up on Wall Street?”

Speaking about Bitcoin, he remarked, “Admittedly, I arrived a bit late to the game. 2014-15 isn’t exactly early adopter territory, right? We considered this chance (Bitcoin) because a lot of individuals lack access to financial markets, lack technology access, or do not possess a passport or national identity. Banks essentially gatekeep much of that access.”

“When we envisioned BTC – the ability to transfer money from point A to B without anyone intervening and asserting control over your own assets – that was truly exciting. The second wave of blockchain was fundamentally about – can we disrupt Wall Street? The strength of Wall Street is actually more akin to the internet. Wall Street’s power lies in me deciding whom you will invest in. And I can do that in two ways. The first way is to say – you will not be included on my trading network, or you won’t be featured in my bank. You simply won’t appear in the marketplace because they (the Wall Street) govern the marketplace. The other method is they manage the liquidity. Ethereum has done remarkably well in effectively altering that paradigm,” he explained.

“Nonetheless, we are not nearly where we hoped to be with Bitcoin, are we?,” posed Gregaard. “We aspired to achieve more than this.”

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“We are now on the verge of something far greater than distributed database and Bitcoin”

“We will be influenced by AI,” remarked the CEO of Cardano. “The real question is, what action will we take? Will we be in control, or will AI take charge alongside one or two individuals who then determine the destiny of humanity and the planet?”

He noted that Gold has recently become increasingly influential. “Then we observe Apple, Microsoft, and a few other firms, right? And then we see BTC nearing 1.6 trillion, and I would love to see Cardano positioned there,” he remarked. “But as we assess that landscape, a major concern is that some of those companies employ thousands, and they will likely be supplanted by AI. And currently, we lack a viable method to regulate AI.”

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The article Cardano CEO Discusses BTC Potential, Declares, ‘We Are Not Moving Away From Wall Street, And That’s Regrettable’ first appeared on 99Bitcoins.