The price of the XRP token spiked after Singapore granted a license to Ripple, which uses the XRP ledger to power its payment products. ![]() “Things have changed quite a bit since FTX where there’s been a little bit more scrutiny around regulations in the U.S., while there have been some positive developments around stablecoins, XRP or ETF possibilities,” said Veradittakit. crypto VCs he had seen at any Asian event. Paul Veradittakit, a managing partner at crypto venture capital firm Pantera, told TechCrunch that Token2049 this year had the largest gathering of U.S. issuer of the popular stablecoin USDC, had its CEO speak at Token2049 this year. Similarly, Singapore’s clarification around stablecoin regulation has been well-received. The legalization of retail crypto trading in Hong Kong, for instance, drew a clutch of web3 startups to set up there in the hope of tapping the enormous investor base in mainland China where crypto is banned. ![]() The enthusiasm for Asia is attributed to the region’s growing crypto adoption and favorable policy development. “A large number of U.S.-based crypto projects have opened offices, hired local talent and moved people to Asia over the past several years but there is clear evidence many have accelerated their growth initiatives in APAC in the past year as a result of developments in the U.S.,” Goldstein added. Seeking an alternative path to grow, crypto projects and investors have looked past the U.S. The “anti-crypto position” from Washington regulators, coupled with the Federal Reserve’s raising of the federal funds rate and the resulting impact on broader interest rates, has “quite negatively impacted VC investment in the crypto ecosystem,” Kevin Goldstein, senior advisor to crypto investment firm HashKey Capital, told TechCrunch. Over in the U.S., an ominous cloud was forming as the government’s flurry of actions against crypto titans, from FTX and Ripple to Binance and Coinbase, continued to chill the industry. ![]() The crypto conference held in Singapore in September attracted an unprecedented crowd of 20,000 attendees, filling the island state with an even greater number of blockchain enthusiasts who hopped in and out of the hundreds of side events across the city to avoid the costly ticket of the main event. Walking through Token2049, it was hard to tell that the crypto industry was going through a “winter” phase.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |