In this post, you’ll find Nexo’s Co-founder and Managing Partner Antoni Trenchev’s interview with Bloomberg where he discusses the SEC and how it might affect crypto lending, and а summary of Antoni’s talk at the Benzinga Crypto Festival on the future of cryptocurrency.
Nexo’s position on SEC’s actions against Coinbase
Watch the full interview or read the summary below for Antoni’s stance on SEC’s actions against Coinbase, along with the quick discussion on crypto’s resilience to regulatory scares.
- Now that the SEC is awake, it is providing us with regulated guidance, albeit in a very aggressive manner. Regardless, at Nexo, we always welcome regulation.
- There are two aspects of consumer protection that regulators are concerned with – first, whether crypto companies’ products are securities, and second, whether their business models are robust.
- With a significantly smaller share of business coming from the United States, Nexo is much more resilient than its competitors in the current environment.
- Following China’s mid-April crackdown on crypto, the network’s hash power dived. With mining relocated from China to other locations, in the US, the network has recovered.
- Since blockchain is a relatively a new technology, glitches with the El Salvadorean system were expected following their acceptance of BTC as legal tender.
Future of Global Currency and Sustainability
Antoni took part in the virtual Benzinga Crypto Festival to discuss the future of global currency, sustainability, and how investors both big and small can go about business in this financial environment.
If you missed Antoni’s talk you can watch it below or read the highlights further down in the blog post.
- Hiring in the crypto field was difficult four years ago. A remarkable influx of candidates is occurring today as people – even high-level executives – are switching careers to the crypto industry.
- NFTs are an asset class to monitor closely, especially since virtual realities are being built where such tokens open doors to whole new worlds.
- Tokenization of real-world assets is offers a wealth of possibilities with the potential to redistribute wealth and boost inclusivity in the investment world.
- While Bitcoin has already established itself as the new gold and is set to reach $100K within 12-18 months, only about 30% of other cryptocurrencies are poised to last that distance.
- A ban on crypto ownership would be the darkest possible regulatory scenario.
- In contrast, the best-case scenario for crypto would be clarity, namely, for entities like the SEC to take these assets seriously and create official regulations for them.
- If we want to have large institutional adoption of crypto, we must recognize that large funds that bring in significant sums, the latest technology, and big clients, have a huge focus on ESG and economically sound businesses.
- Solutions for crypto’s high energy consumption are on the horizon with Ethereum already on its way to a proof of stake model.
Originally published here