We are witnessing a severe correction and subsequent re-shuffle of even the most influential leaders in the digital asset market, which will result in a number of companies falling by the wayside.
Latest Fintech News: KuCoin Exchange Launches Innovative KuCoin Wallet for Web 3 Exploration
‘The cryptocurrency market stands at a clear turning point. Companies will either pivot and manage to survive the storm or will suffer the consequences. The future crypto services format will be a combination of Web 2 and Web 3, Exchanges must prioritise a customer focussed and on-chain aggregated service approach; those still banking on excess leverage won’t make it through the crypto winter.’ –Toya Zhang, CMO of Bit.com.
Bit.com, the full suite cryptocurrency exchange established as part of the Matrixport ecosystem, is participating as a diamond sponsor alongside industry pioneers and the largest players in the crypto options market at the 2022 European Blockchain Convention (EBC), where these topics will be at the forefront of the discussions.
The EBC is a 3-day event in Barcelona, which will see 1,500+ attendees and feature 120+ speakers across a variety of panels, workshops, and fire-side chats on the current environment of blockchain, crypto, DeFi, NFTs and Web 3.0.
This event comes at a time when both traditional and digital finance markets are in turmoil, with an ongoing conflict in Ukraine and significant market uncertainty. The chaos has wiped more than $2 trillion in value off the crypto market, with institutions going bankrupt and retail investors losing their life savings.
Latest Fintech News: Energy Dome Closes $11Million Convertible Round to Accelerate Commercial Deployment of CO2 Battery
With scepticism at an all-time high, the wider public are lacking confidence in those who they feel are responsible gatekeepers for their assets. As a result, many companies are taking this time to focus on finding ways of maintaining trust with their investors.
‘In order to stand out, exchanges like ours will need to provide true value to consumers with services and tools that are built with simplicity at the cutting edge.’ Leslie Hsu, Bit.com
Despite the market upheaval, it is estimated by Goldman Sachs that 16% of adults in the US have invested in, traded, or used cryptocurrency. Whilst this means that there is a wider exposure to market volatility, it also reveals an increasing trend that people continue to be interested in learning and investing in cryptocurrency, particularly if the offering is quality, safe and easy to use.
‘It’s clear that there is demand for the industry to continue, but it is likely to become more exchange driven. Our clients trust us as a self-regulated and advanced in risk management that is effectively portfolio-managed and options trader friendly.’ Leslie Hsu, Director of Business Development at Bit.com.
At the EBC, Toya Zhang and Leslie Hsu, will be sharing in greater detail the ins and outs of how companies and crypto exchanges will need to adapt in order to survive these turbulent times.
Latest Fintech News: Cordio Medical Raises $18 Million in Funding From Ceros and Peregrine Ventures to Accelerate Growth
[To share your insights with us, please write to sghosh@martechseries.com]
