Sam Bankman-Fried, founder of the FTX cryptocurrency exchange, is optimistic that the clarity provided by regulators around the world will stimulate the adoption of cryptocurrencies by institutions this year and subsequent years.
In the interview on January 3 Bloomberg, SBF talked about encryption regulations, institutional adoption and Metaverse. Despite the ups and downs of the market at the end of 2021, SBF is “optimistic” towards 2022.
“The thing that makes me optimistic is basically that the U.S. and global regulation is clearer, and I think this can help a large number of institutions adopt it.”
When asked how he thinks institutions’ adoption of cryptocurrencies will accelerate in the future, he replied: “It also depends a lot on what happens in terms of regulation.”
His views on regulatory clarity encourage more institutional growth in cryptocurrencies Response to comments According to a Cointelegraph report on January 3, Beili Baraki of Nansen and Nikos Andrikogiannopoulos of Metrika.
He raised the possibility that if jurisdictions “feel that they are gaining regulatory clarity”, then such adoption may come like a “wave”. However, unlike the tsunami scenario, “this will be a long process and may last for several years,” he added.
In addition, he pointed out that “many different governments have announced that they will introduce regulatory frameworks next year.” Some governments have been working hard to develop appropriate regulatory frameworks for cryptocurrencies.
Another source of SBF’s optimism seems to come from the vitality of institutions beginning to flood the crypto ecosystem. He said,
“Basically every large financial institution, every large bank, every large investment bank, and pension fund I have been in contact with is paying attention to this industry.”
When asked what the combination of cryptocurrency and Metaverse would look like, the cryptocurrency billionaire pointed out that because there are billions of gamers around the world, irreplaceable tokens (NFT) Is probably one of the biggest roles that cryptocurrency plays in the meta-universe in video games.
Statistics show that there will be about 3.2 billion gamers worldwide in 2021 statisticsHowever, the crypto gaming industry only contains 1.2 million players. Application radarThis shows that the integration of cryptocurrency and mainstream games will provide a huge impetus to the adoption of global cryptocurrency, which once again confirms SBF’s prediction.