As we enter 2024, CI has received insights from the CEO’s of crypto industry firms including professionals who are overseeing the operations of digital asset exchanges, custody platforms, payment product developers, and services associated with various other protocols.
Bobby Zagotta, US CEO of Bitstamp, which claims to be the longest-running crypto exchange, said:
“As the year draws to a close, it’s crucial to reflect on crypto’s latest winter and reaffirm our belief in its promising future. As an industry, we’re turning the page on bad actors and setbacks for the industry that have slowed progress and shaken trust. Looking ahead, I hope the U.S. takes proactive steps forward to reestablish itself as a leader in this new and innovative space. In particular, I’m optimistic about The Financial Innovation and Technology for the 21st Century Act and the Responsible Financial Innovation Act. In 2024, the approval of a Bitcoin ETF will offer a familiar entry point to crypto for those who have been watching from the sidelines. Additionally, the upcoming Bitcoin Halving and expanding use cases of blockchain technology further serve as a testament to the promising landscape and opportunities ahead.”
Gavin Michael, CEO of Bakkt, a B2B crypto provider, said:
“While the crypto market in 2023 continued to be challenging, we began to see green shoots towards the end of the year that I believe should continue into 2024. Bitcoin’s price has recently rallied to YTD highs, and the next halving is quickly approaching in April. As the market slowly turns, regulation will continue to be a focus – as clarity will ultimately allow for more growth, stability and customer protection. If and when we see a Bitcoin ETF approved, this will undoubtedly be a catalyst for the market and we hope to see the industry build strong momentum from there. While US regulation continues to be top of mind, strategic global expansion will also be a key focus for many successful crypto firms. Outside the U.S., there are many vibrant contenders for top crypto hubs across the globe, and companies committed to compliance and security in all regions are best positioned for success during crypto’s next growth cycle.”
Andy Bromberg, CEO of Beam, a P2P crypto payments platform backed by a16z
“The crypto industry has historically focused on developing products for themselves. But with essential infrastructure now firmly in place, 2024 can be the year of truly mainstream adoption for crypto payments. The biggest to such adoption has been the user experience. But with account abstraction, rollups, and stablecoins all maturing, the pieces are on the board for mainstream-usable crypto payment products. After a decade and a half, crypto products are finally poised to cater to beginners and seasoned enthusiasts alike.”