The end of speculation can ensure crypto firms with good business models survive — and help the industry become more sustainable 👀
Speaking at the Bloomberg Technology Summit in London, Atomico partner Irina Haivas said the collapse in prices had weeded out "tourists."
Another panelist, Revolut's Edward Cooper, said the bear market has also taken care of crypto companies that emerged without a viable business model. He added:And while trading volumes and user registrations have taken a tumble, Cooper revealed that Revolut's sign-ups remain far higher than before the 2020 bull run began.
During a different interview with CNBC, the founder of Citadel Securities, Ken Griffin, had another perspective on the plunging value of cryptocurrencies, meme stocks and NFTs."Money misallocated in speculative assets doesn't create jobs in the long run, doesn't help to create the long-term prosperity that makes America the country that it is."
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