The Founder of dYdX Said the US Market Is Not “Worth the Hassle” for the Crypto Industry
According to the creator of the decentralized exchange dYdX, developers of cryptocurrencies should spend the next five to ten years catering to markets outside of the United States.
On social networking site X, Antonio Juliano told his 49,400 followers that the regulatory uncertainties in the US are not worth the “hassle” or “compromises.”
Juliano argues that crypto developers would be wise to establish their products elsewhere before returning to the United States.
“Crypto developers should stop trying to sell to Americans for the time being and instead wait 5-10 years to try again.” It’s not worth having to work at it or make sacrifices. The majority of sales are made in other countries. Develop new ideas, and test them in the market, and only then should you return with greater power.
Achieving a product-market fit in the cryptocurrency industry that is 10 times more robust is the only thing that matters to anybody. There are several sizable marketplaces in other countries where innovation is welcome.
Although, as Juliano notes, it takes time to fight for better crypto legislation, the process might be sped up if developers succeed in making products that people want.
“This doesn’t discount the significance of advancing US crypto policy, either. It’s a big deal since it takes a long time and many other countries are likely to follow the United States’ example.
We don’t have much influence on policy right now since crypto doesn’t have product market fit on a global basis. We need widely adopted items that prompt voters to exclaim, “Wait, I need this.”
The inventor of dYdX continues by saying that someday, Americans will understand that cryptocurrency was developed with their ideals and ideas in mind.
“Crypto is consistent with traditional American ideals. What could be more capitalist and democratic than a monetary system that is owned and operated by the people? That is, in fact, what we are constructing.”
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