The Importance of Serving Markets Outside the United States in Crypto
The founder of the decentralized exchange dYdX, Antonio Juliano, believes that crypto builders should prioritize serving markets outside the United States for the next five to 10 years. Juliano argues that the regulatory uncertainty in the US is not worth the “hassle” or “compromises” for crypto developers.
Main Points:
- Crypto builders should focus on markets overseas and find product-market fit before re-entering the US.
- Lobbying for friendlier crypto regulation takes time, but creating products that consumers demand could expedite the process.
- The US’s lead in crypto policy will influence the rest of the world, so it’s crucial to have products with massive usage to have a voice in policy-making.
- Crypto is aligned with American values and principles, as it empowers a financial system by the people, for the people.
Hot Take:
Antonio Juliano’s advice to crypto builders to focus on markets outside the US and then re-enter in a position of strength highlights the challenges posed by regulatory uncertainty. While it may seem counterintuitive to neglect the US market, this approach allows builders to innovate and find product-market fit without compromising their vision. By creating products that consumers demand, crypto builders can expedite the process of friendlier regulation and showcase the true potential of crypto aligned with American values.
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