While the cryptocurrency industry is experiencing growing pains (with many self-induced), Flipster head of product Youngsun Shin said that is expected for a new sector. However, he does have solutions for many of its problems.
Flipster is a cryptocurrency trading platform that offers high-speed, secure, and user-friendly trading for beginning and advanced users. It provides access to popular cryptocurrencies like Bitcoin and Ethereum, along with other major assets.
What type of person succeeds in crypto?
Shin has an insider’s understanding of what it’s like to work at startups in rapidly evolving industries. He was an early Uber employee in Korea and also worked at Coupang. Companies seeking success in such climates have to occasionally go against the grain.
Many new companies seek personnel experienced in the particular sector they’re targeting. Shin said that it is hard and often unnecessary, in crypto. Better to target people who thrive in unstructured environments, ones comfortable with fluid job descriptions and assuming extra tasks. They must accept ambiguity and adjust with market conditions and opportunities.
“A lot of people think that because they’re in a new industry, they want someone with blockchain expertise, or who is super knowledgeable in crypto,” Shin said. “That doesn’t exist. It’s a very nascent industry, so everyone is new in the game.”
“What’s better to have is the ability to learn fast and adapt quickly. That is much more important than being super knowledgeable. With a more academic approach, you can get stuck into a situation where you think something is right, but the market doesn’t agree with you, and you’re stuck there.”
Flipster’s value proposition
Flipster was founded in 2021 to help retail cryptocurrency traders thrive. Shin said while institutional traders have access to deep liquidity, sophisticated trading infrastructure, and low fees, retail traders were often left navigating fragmented liquidity, slow execution speeds, and high transaction costs. The team saw an opportunity to bridge that gap by building a platform that delivers institutional-grade trading tools with a seamless, user-friendly experience.
Flipster offers spot and futures trading with zero fees and competitive spreads. Shin said its deep liquidity pools, high-speed order execution, and a diverse range of trading products allow users to efficiently capitalize on market movements. Staff with experience at Nomura, JPMorgan, Apple, and Google allows Flipster to bridge traditional and decentralized finance.
Improved security, regulation are two mainstream hurdles
Shin said the cryptocurrency industry must improve its approach to security and regulation if it is to gain mainstream acceptance. While blockchain’s decentralized nature comes with advantages, it also attracts bad actors probing for weaknesses in smart contract vulnerabilities, third-party service integrations, or social engineering exploits.
Flipster’s security approach combines enterprise-grade encryption, real-time anomaly detection, and robust custody solutions to protect user assets.
“As an ISO/IEC 27001-certified platform, we enforce strict AML/KYC measures to mitigate financial risks while ensuring regulatory compliance,” Shin said. “Our security framework includes cold storage custody for funds, constant penetration testing, and continuous security audits to preempt potential threats before they materialize. Our proof of reserves mechanism provides full transparency, reinforcing trust in the platform.”
Unfortunately, Shin said the crypto industry has been its own worst enemy when it comes to security. The “move fast and break things” approach produced a culture where rapid innovation often outpaced risk management, resulting in catastrophic failures. Avoidable faults include lax exchange security, inadequate smart contract audits, and over-reliance on third-party solutions without rigorous due diligence.
Shin said problems like rug pulls and Bybit’s travails make his job harder, but he recognizes it’s part of the business. Many sectors, especially early on, suffer from moral hazards and lack of oversight. In some, like traditional finance, those issues never go away.
Crypto is unique in one way, and that is transaction immutability. Because of that, Shin believes it needs more oversight to protect users. He believes it will come, but understands why it is still evolving.
“This is still a new industry; the standards are not set, and the governance isn’t perfect,” he cautioned. “So, obviously, a lot of these incidents are bound to happen to a certain extent, and it makes our job harder.”
“But it’s also part of building the future. Nothing is perfect from day one.”
What effect will Trump have on crypto?
Shin believes the Trump administration could mark a significant shift in the U.S. crypto landscape, particularly in regulation and institutional adoption. It’s already propelled market optimism. If the administration moves toward crypto-friendly legislation—such as tax incentives for digital asset businesses, ETF expansions, and streamlined regulatory frameworks, Shin thinks it could position the U.S. as a global leader in blockchain innovation.
In the short-term, increased retail and institutional participation is being driven by expectations of deregulation and possible state-backed crypto initiatives. That changes beginning in the medium-term, as clear regulatory guidelines could attract institutions. That should foster deeper liquidity, expansion of tokenized financial instruments, and integration of crypto into mainstream financial markets.
Shin said the long-term trajectory will depend on the administration’s ability to balance innovation with investor protection. Overly lax regulations could lead to a proliferation of low-quality assets and speculative excesses, creating systemic risks.
“The challenge for the administration will be fostering a competitive crypto environment without enabling unchecked market volatility,” he said.
Shin added that a more crypto-friendly regulatory environment could provide a strong tailwind for venture capital investment and R&D within the industry. Institutional investors have been hesitant to enter the space due to regulatory uncertainty, but clearer frameworks could unlock capital flows into blockchain infrastructure, compliance solutions, and tokenized assets.
If Trump’s administration prioritizes crypto as a strategic financial sector, Shin believes we could see increased government funding and corporate investment in blockchain research, stablecoin development, and cross-border payment solutions.
With more money and attention comes more innovation in tokenized RWAs and DeFi. TradFi institutions could increasingly integrate blockchain into their operations. More certainty could also attract top engineering talent.
Varied global regulatory approaches to produce winners/losers
Shin said divergent regulatory approaches are already creating winners and losers. Should the Trump administration pursue a lax regulatory approach, it could attract capital and innovation but also volatility if not properly managed.
Europe is taking a structured approach through its MiCA framework. Shin said that provides regulatory clarity for exchanges and stablecoins while ensuring investor protection.
The Middle East, especially Dubai, has become a global hub. Shin said a progressive licensing regime has attracted many players. Asia is mixed, with Hong Kong progressive and China mostly restrictive but with quiet investments.
“The jurisdictions that provide clear, innovation-friendly policies will dominate the next phase of crypto development,” Shin said. “Those that remain ambiguous or overly restrictive risk losing out on talent, capital, and technological advancements.”
Shin personally believes that universal regulations of some type are needed for cryptocurrencies to maximize their potential. There are currently too many loopholes for individuals and entities who can avoid strict regulatory regimes for more welcoming countries like the Cayman Islands. More strict regulations are needed, but so is a level playing field.
“It’s funny, because in the days of Facebook and Google, everybody wanted to work in the US,” Shin said. “Everybody wanted to immigrate to the US, get a visa and that Silicon Valley dream opportunity.”
“In crypto, it’s the other way around. Everybody wanted to run away from the US, because everything is regulated.”
Crypto must leap these three hurdles before going mainstream
Shin sees three hurdles cryptocurrency needs to leap before it goes mainstream. Regulatory clarity has been discussed, as has UX.
More has to be done to integrate DeFi and TradFi. Shin is encouraged by trends with DeFi, decentralized physical infrastructure networks (DePIN) and AI-integrated blockchain solutions. DePIN is driving real-world infrastructure improvements. AI-powered blockchain applications are exploring new frontiers in data security and automation.
“On the technology side, the biggest challenge is usability,” Shin said. Crypto is still too complicated for the average person. Wallets, private keys, gas fees, and network congestion make onboarding painful. We need seamless, intuitive platforms that abstract away complexity while maintaining decentralization. Scalable infrastructure, low-cost transactions, and better interoperability between chains will also be crucial.”
“Ultimately, mass adoption won’t be driven by any single factor—it will come from a combination of regulatory certainty, better technology, and real-world utility that makes crypto indispensable, not just an alternative.”