WisdomTree digital currency business launched in New York amid shareholder opposition

WisdomTree Prime, WisdomTree's digital currency app, has been launched in New York, where users can use digital assets such as Bitcoin and Ethereum. However, CEO Jonathan Steinberg has come under pressure from shareholders over the company's foray into decentralized finance. Graham Tuckwell, the company's largest shareholder, has expressed opposition to Steinberg's initiative and called on investors to oppose his re-election. Tuckwell pointed out that Steinberg's decentralized finance initiative is a "huge disruption and a complete failure". WisdomTree has been a major traditional finance player in the crypto space since 2019, but its digital currency fund has attracted relatively little capital, only around $70 million, while other issuers have attracted billions of dollars in investment.