Major exchanges are diving into U.S. stocks, and the ones benefiting aren't the crypto markets but the U.S. stock market. Funds are being pulled out of crypto and flowing into U.S. stocks—easily hundreds of billions of dollars. This accelerates the outflow from altcoins and speeds up their elimination. As the U.S. stock bull market continues, if a downturn happens, funds will bottom-fish quality assets, and crypto will take an even harder hit.