July 15, 2025 03:21 PM GMT Crypto-to-DC Conversion Analysis MORGAN STANLEY RESEARCH July 15, 2025 Morgan Stanley & Co. Stephen Byrd Global Head of Thematic & Sustainability Research Stephen.Byrd@morganstanley.com +1 212 761-3865 Jamil Ohayia Global Thematic Strategist Jamil.Ohayia@morganstanley.com +1 212 761-4776 Morgan Stanley does and seeks to do business with companies covered in Morgan Stanley Research. As a result, investors should be aware that the firm may have a conflict of interest that could affe ...