Crypto Projects Should Prioritize Markets Outside the US, Says dYdX Founder
dYdX founder Antonio Juliano has suggested that the crypto space should “give up” on the US markets for the next five to ten years and focus on other markets. Juliano argued that crypto projects could scale faster by not serving the US markets because they would not have to deal with a hostile regulatory climate.
Main Points:
- Builders in the crypto space should prioritize markets and customers outside of the United States for faster growth and user adoption.
- Lack of clear rules and regulations in the US is a major concern for the crypto industry.
- Startups and builders should find product market fits overseas before re-entering the US market with larger user bases.
- Coinbase CEO Brian Armstrong offered a different perspective, stating that the situation would improve in a shorter time.
- Wintermute CEO Evgeny Gaevoy agreed with Juliano’s view and suggested that things would get better in 2-3 years.
Hot Take:
The lack of regulatory clarity in the US is causing big crypto firms to look for opportunities in other markets. While some are optimistic about the situation improving, there is consensus that crypto projects can scale faster and face fewer regulatory hurdles by prioritizing markets outside of the US. The US must provide clearer rules and regulations to attract and retain crypto businesses.
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