Crypto exchange FTX founder and CEO, Sam Bankman-Fried has shared his optimism about institutional crypto adoption in year 2022 and even beyond. According to him, institutional adoption is dependent on global regulators providing clarity around their regulations, and that is something he is hopeful about.
FTX Founder Shares His Thoughts On Fast-tracking Institutional Crypto Adoption
SBF spoke at length on the metaverse, crypto regulations, and institutional adoption during a January 3 interview with Bloomberg. He mentioned that things are looking bright for 2022 even though there may have been an unexpected end for markets in 2021.
“The things that make me optimistic basically are more regulatory clarity in the US and globally which I think could help a ton on institutional adoption.”
When asked his opinion on how institutional crypto adoption could be fast-tracked, he insists that that is dependent on what happens on the regulatory front. But, the FTX founder is not alone in this line of thinking.
SBF shares similar sentiments with Nikos Andrikogiannopoulos of Metrika and Beili Baraki of Nansen on how regulation affects institutional adoption.
Additionally, he shared his belief that once a region feels safe and clear about regulations, adoption will come like a “tidal wave”. Maybe not exactly like tidal wave, but will surely happen even if stretched out over a few years, he added.
Different Factors Contributing To The Optimism Around Institutional Adoption
Truly, many governments have been working round the clock to come up with clarified regulatory frameworks for cryptocurrency. So definitely, the signs are good.
Another factor contributing to SBF’s optimism seems to be in the recent numbers of institutions flooding the crypto ecosystem.
According to him, virtually all major financial institutions and pension funds he’s talked to, are eyeing the crypto industry.
The crypto billionaire also weighed in on what he thinks a combination of cryptocurrency and the metaverse would look like.
He thinks with worldwide gamers numbering up to billons, videogames NFTs will likely play crypto’s biggest roles in the metaverse.
There were about 3.2 billion gamers in the world in 2021 according to Statista. But there are only 1.2 million gamers in the crypto gaming industry according to DappRadar. This goes to show that integrating cryptocurrency with mainstream gaming would bolster global crypto adoption tremendously, confirming SBF’s belief.
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