Wed. Jul 17th, 2024

• The founder of the decentralized exchange dYdX, Antonio Juliano, believes that crypto developers should focus on serving markets outside the United States for the next five to 10 years due to regulatory uncertainty.
• Juliano suggests that it is better for crypto developers to build their products in other countries and then come back to the United States in a position of strength.
• Juliano also points out that lobbying for friendlier crypto regulation takes time, but could be expedited if builders manage to create products that consumers demand.

Founder of dYdX Believes Crypto Industry Should Give Up on US Customers

The founder of the decentralized exchange dYdX, Antonio Juliano, believes that crypto builders should focus on serving markets outside the United States for the next five to 10 years due to regulatory uncertainty. He tells his 49,400 followers on social media platform X that it is not worth the “hassle” or “compromises” as most of the market is overseas anyway.

Focus On Other Markets and Come Back With Leverage

Juliano suggests that it is better for crypto developers to build their products in other countries and then come back to the United States in a position of strength. This way they can innovate in these markets and find product-market fit before re-entering with more leverage when regulations have become more friendly towards cryptocurrencies.

Lobbying Takes Time

Lobbying for friendlier crypto regulation takes time, but according to Juliano this process could be expedited if builders manage to create products with massive usage where users (voters) say: ‘Wait I need this’. By doing so they can influence policy changes sooner than expected.

Crypto Aligned With American Values

Juliano also argues that Americans will eventually realize that cryptocurrencies are perfectly designed for US values and principles such as financial freedom and capitalism because “crypto is a financial system of the people, by the people, and for people”.

Conclusion

Overall Juliano makes an argument for why focusing on other markets instead of trying hard to make gains with US customers may be beneficial in terms of leveraging regulations and finding product-market fit sooner than expected.

By admin