dYdX Founder Suggests Crypto Should Focus on Non-US Markets
Antonio Juliano, the founder of dYdX, has recommended that the crypto space should prioritize markets outside of the United States for the next five to ten years. Juliano argues that by doing so, crypto projects can scale faster without having to navigate a hostile regulatory environment. Here are the key points:
1. Focus on non-US markets: Juliano suggests that crypto builders should give up serving US customers and instead focus on markets and customers outside of the United States.
2. Fewer regulatory hurdles: By prioritizing non-US markets, builders can avoid dealing with the complex regulatory landscape in the US and concentrate on user adoption and platform growth.
3. Lack of clear rules: The ambiguity surrounding regulations in the US is a major concern for the crypto space. The dYdX founder believes that the industry needs to grow further in order to have greater influence over US policy.
4. Return with leverage: Startups and builders should find product market fits overseas before re-entering the US market with the advantage of a large user base.
5. Mixed perspectives: While Juliano and Wintermute CEO Evgeny Gaevoy agree on focusing on non-US markets, Coinbase CEO Brian Armstrong is more optimistic, believing that the situation will improve in a shorter time frame.
In conclusion, the lack of regulatory clarity in the US is pushing crypto projects to prioritize non-US markets. However, there are differing opinions on the timeline for improvement and the impact on fully scaled businesses versus startups.
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