Sam Bankman-Fried, FTX CEO, believes 2022 will bring about a wave of regulatory moves which would be good for the crypto market. He told Bloomberg that so far, crypto has managed to gain the interest and respect of regulators.
The executive says the government’s stance will help boost cryptocurrency trading. It will facilitate the entry of larger investors in the market. Sam Bankman-Fried is also optimistic about the price of bitcoin. He said BTC will gain from the regulatory clarity in the United States and the rest of the world. This, he believes, will help institutional adoption.
The CEO of Galaxy Digital, Mike Novogratz shares FTX CEO’s views. Novogratz raised concerns about the impact of bad crypto-related policies. He understands the benefits of institutional capital as fuel for cryptocurrency to promote and drive a robust industry. Sam Bankman-Fried sees the process as gradual. The FTX CEO expects this to be a slow process. He believes it will run over a period of years.
In regards to the crypto space, Sam Bankman-Fried says almost every financial institution has expressed interest to explore it. He also sees 2022 as a year of breakthrough for stable coins regulations. The FTX CEO says it would likely involve CFTC and SEC.
In regards to NFTs, Sam Bankman-Fried says it will take years for the growth of a proper crypto-gaming industry. He acknowledged that it has the potential to become a major global industry. Digital assets will also venture into the metaverse with Meta being a catalyst. The executive highlighted that non-fungible tokens in video games will be one of the largest roles taken on by cryptocurrencies in the metaverse.
The integration of cryptocurrency with mainstream gaming is just around the corner. It will help bring about a mass global adoption of crypto.