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Here’s what some of the the biggest crypto CEOs and expect in 2022

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Sam Bankman Fried, Chief Executive Officer of cryptocurrency exchange FTX at the Bitcoin 2021 Conference in Miami (Florida) on June 5, 2021.

Eva Marie Uzcategui | Bloomberg | Getty Images

Another wild year has been had by cryptocurrencies

Bitcoin, the world’s largest digital asset, has seen a roughly 65% gain since January — with some ten to twenty percent swings in between. As payment giants PayPal began allowing users to trade cryptocurrency, it brought in new investors. Learn more billionairesInstitutional investors also stepped in to legitimize this asset class.

This industry is now much larger than bitcoin. Blockchain-based videogames, NFTs, and “Web3The top thoughts of executive heads heading into next-year are: The greatest uncertainty is still regulation.

We take a look at the opinions of some industry leaders.

Sam Bankman Fried, CEO of FTX

CNBC’s founder and CEO, at 29 years old, said that he didn’t think legislative action would be an immediate solution to “regulatory clarification.” It’s especially difficult right now for Congress to pass things.

Bankman-Fried stated that it is just as possible to put together a collection of statements and enforcement actions.

But, the CEO still believes in Solana being an alternative to Ethereum. However, it is possible for a new blockchain to emerge as the “Holy Grail” and allow transactions to be processed at a rate of one million per second. He said that there were “very few” trying to reach this point right now.

“The crypto regulatory systems will see substantial fleshing over the next few year.”

“Most banks have decided within themselves that they are going to enter the crypto-economy. The details of regulation will play a significant role in how and when banks do so.

There is a lot of concern about stablecoins at the moment. It’s easy to fix. Either you can provide attestations or an audit by a regulator.

Stablecoins are unstable. This is the main concern of people. You can resolve most customer concerns and systemic risks by addressing this issue. It isn’t difficult to accomplish. That’s why I am cautiously optimistic about where we’re headed.

Circle CEO, Jeremy Allaire

Circle CEO and Co-Founder Jeremy Allaire 

David A. Grogan | CNBC

Circle CEO, John C. Clark, is calling for greater use of dollar-pegged cryptocurrency, or stablecoins. This could be by consumers, e-commerce businesses, financial institutions and individuals. Circle is planning to make its stablecoin USDC public with the help of SPAC.

Allaire hopes to see institutional adoption increase and celeb trendsetters lend their brands to cryptocurrency through NFTs. DAOs that rely on crowdfunding may “challenge Venture Capital Investors on some of the biggest and hottest deals crypto,” Allaire said.

Worst of all? Allaire pointed out that “incoherent and inconsistently drafted and implemented policy and regulations in a hurry” was the biggest threat.

Investors and businesses alike will want high-yield digital assets, even in an environment of Fed interest rate increases. So expect to see institutional adoption of digital assets balloon — directly, through ETFs, or custom yield-generating products.”

There is bipartisan agreement that crypto and blockchain technologies are a competitive advantage for the United States, particularly if they’re properly regulated. New legislation will be faster than most people anticipate.

Stablecoin adoption is expected to continue on its upward trend in 2022. Our belief is that the internet will be soon as accessible and efficient as email and text message.

Bitfury CEO & former head of the OCC, Brian Brooks

Brian Brooks, Chief Executive Officer of Bitfury Group Ltd., spoke during the House Financial Services Committee hearing held in Washington, D.C. on Wednesday, December 8, 2021.

Getty Images| Bloomberg | Getty Images

Brian Brooks, the ex-Acting Comptroller, stated that the consensus is building among Washington legislators about the future of crypto. After a record-breaking 2021, he expects to see more funding rounds for crypto. This is despite the fact that crypto remains mainstream.

He stated that, for example, all “cryptos” do not represent currencies or are meant to function like currencies.

Retail adoption is increasing and it will accelerate. However, for Wall Street and financial service companies, the question is “when” and not “if”.

It is time to make clear and consistent regulatory actions to ensure that crypto-web 3 can grow in America.

“The amount of innovation and activity in this space is too large to ignore.”

Paxos CEO, Charles Cascarilla

Chad Cascarilla is CEO at Paxos.

Adam Jeffery | CNBC

Paxos, the company behind PayPal’s cryptocurrency offering is Paxos. Charles Cascarilla, CEO of Paxos expects to see more activity in the stablecoin markets. The USDP is his company’s own dollar-pegged cryptocurrency. This CEO is just one warning to the United States that it has much at stake if regulation goes wrong.

In 2021, crypto was entered by big tech and finance companies like Interactive Brokers, Venmo and Mercado Libre. The next year will see even more big players join the fray. 

Stablecoin 2022 was the year. For the first time, stablecoins have been enabled in consumer wallets. Money is an item and must be updated to reflect the changing lifestyles of today’s consumers. USDP and other stablecoins are the way to go.

Safe blockchain innovation is possible in the United States with regulatory consistency, certainty and clarity. If we do this correctly, we have many chances to secure American market dominance in the long term. However, there are also many potential risks.

Grayscale Investments CEO, Michael Sonnenshein

An industry year in 2013 was marked milestoneThe first bitcoin ETF that is futures-based. Grayscale, along with others from the sector are keen to go one step further.

The company is looking to transform the largest Bitcoin trust in the world, GBTCThe CEO Michael Sonnenshein hopes for an approval of the ETF in 2022. He also sees investor interest in bitcoin and the “tension” between Big Tech companies and start-ups.

 “We’re entering into 2022 Without a Bitcoin ETF, but believe that in the coming year the SEC and other regulators will continue to dig in on this issue. They will provide investors with the option of choosing between spot- and futures-based ETF products to get exposure. We are optimistic about this.

This was a year that we believed people were diversifying beyond Bitcoin or Ether. As we see more investors choosing specific protocols or projects, it is clear that the crypto-asset universe will only continue to grow.

There will be a wider discussion about the tension that exists between some of these established tech companies and some of these new decentralized platforms.

Christine Brown, Robinhood Crypto Head and COO

RobinhoodThe company was founded as a stock-trading startup. In its second quarter, the company became a public corporation. halfThis is the total amount of revenue generated by crypto trading. More than 60% of that came from Dogecoin transactions. Executives have stated that the asset class is becoming more critical to the bottom line of the company and are working slowly to add new assets to it until more regulation clarity.

“2021 marked the beginning of mainstream crypto.”

In 2017, more people were involved in crypto, whether through NFTs and their preferred token. It was an exciting year.

Crypto has had a HODL mentality for a long time. This extended to NFTs 2021, where JPGs took over photos across all social media platforms. Multiple layer L1 and 2 platforms will flourish in 2021 thanks to the infrastructure investment made in 2017. Companies will be focusing more on user experience in 2022 as there are more crypto-lovers to serve. Major brands will continue their involvement.

Anthony Pompliano heads Pomp Investments

Pomp is a crypto Twitter user you may have come across. The investor has more than 1,000,000 followers and is well-known for making bullish bitcoin calls. He said that the asset had transformed from being a contrarian investment to becoming a consensus idea on Wall Street by 2021. The investor expects that legacy businesses will adopt bitcoin more in the next year, with them buying it for their balance sheets and then eventually creating dedicated business units.

Pompliano highlighted the steps taken in bitcoin mining after China declared it illegal. He also pointed out the potential of bitcoin for worldwide payments and the “brain drain” from Wall Street and Big Tech.

In 2021, bitcoin mining became a US-centered activity. I would expect to see bitcoin mining reach new highs by 2022. This will be in addition to continued growth in market share for both the US and Texas.

“We witnessed Twitter adopt the Lightning Network in payments for 2021 via Strike API (I am an Investor). El Salvador was also a country that embraced the Lightning Network to pay for its payments. The Lightning Network will be adopted by many Fortune 500 firms in 2022 to facilitate payments.

The legacy finance and technology industry’s brain drain will persist. The most talented people in the world, including young people, are keen to put their energies into the industries where they have the biggest impact. Crypto is growing rapidly in new businesses, employment, funding and economic value. This transformation has just begun, and will most likely continue in 2022.

Michelle Bond is the CEO of Association for Digital Asset Markets

Bond stated that while this year was busy for the DC crypto trade association, she expects 2022 to be even busier. Bond expects more enforcement actions from the SEC.

“The Biden Administration has been in power for over a year. Now we have a chance to do something on a bipartisan level. This will help the industry grow and provide safeguards to protect consumers and market integrity.

While final legislation will not take effect, they will be effective in 2022. The direction of travel will be obvious. What we do in 2022 sets the scene for 2023 and 2024, I believe.

“The balance is going be finding the right policy framework that will allow the industry to thrive and where the U.S. can gain from the protection of its consumers.”

Gemini COO, Noah Perlman

John Wu, president of Ava Labs

Ethereum had an exceptional year, but there are new blockchains that can be used to create NFTs or other applications. Avalanche, one of the new competitors to Ethereum. Ava Labs president and former hedge fund trader Ava Labs predicts an exodus of “speculative” assets as well as a “brain-drain” in which software developers will leave Big Tech to pursue the next level of computing. He predicts that the market’s dominance of bitcoin will decline.

“We’ll continue to see an inflow into DeFi and Gaming platforms for smart contracts, gaming, and we will continue seeing them.”
metaverse. Strong growth in use cases, users and transactions will determine the winners. Losers are speculative assets without network effects.

Both institutional investors and retail investors still have strong interest in Bitcoin. It has a 10-year lead over other platforms, so it is still the most well-known brand. Its market dominance is changing and it will lose its position in crypto markets.”

These smart contract platforms are competing with one another for developers. But the real rival is traditional web 2.0 companies such as Google and Facebook. Web 2.0 developers are showing great interest in building on decentralized systems as they believe web 3.0 is more exciting and creative than traditional web 2.0.

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