Tom Lee: Banks Need to Beware of Lagging Behind in Crypto Transformation, Traditional Finance Dominance May Create Cognitive Bias

Odaily reports: In an interview, Tom Lee stated that currently about 99% of financial activity still runs on traditional financial infrastructure, but this status quo may create a misleading recency bias, causing investors and enterprises to view cryptocurrency as a niche sector and underestimate the potential speed of transformation in the financial system.

Tom Lee believes that the current dominance of traditional financial infrastructure does not mean this pattern will persist in the long term. If financial activity gradually shifts to crypto infrastructure, institutions' reliance on existing market structures may cause them to underestimate the speed of industry change. He also warned that banks that have not yet established crypto business channels or formulated related strategies may face competitive disadvantages as crypto adoption increases.