The founder of the FTX cryptocurrency exchange, Sam Bankman-Fried is optimistic that the clarity provided by regulators around the world will stimulate institutional adoption rates for cryptocurrencies this year and beyond.
In an interview with Bloomberg on January 3, SBF discussed crypto regulations, institutional acceptance and the metaverse. Even if the end of 2021 was bumpy for the markets, SBF is “bullish” for 2022.
“The things that make me optimistic are essentially more regulatory clarity in the US and around the world, which I think could be very helpful in terms of institutional acceptance.”
When When asked how, in his opinion, the institutional introduction of cryptocurrencies could accelerate in the future, he replied: “A lot also depends on what exactly is happening on the regulatory front.”
His view on regulatory clarity, which will fuel further institutional growth in cryptocurrencies, echoes the views of Nansen’s Beili Baraki and Metrikas Nikos Andrikogiannopoulos. as reported by Cointelegraph on January 3rd.
It offered the possibility that If jurisdictions “feel they are getting regulatory clarity”, this introduction could take place in a “wave”.. But more than the scene of the flood “,it will be a long process that will likely take a few years, ”he added.
He also noted that “many different governments have announced that there will be a regulatory framework over the next year.” Various governments have worked hard to create the appropriate regulatory framework for cryptocurrencies.
Another source of SBF’s optimism seems to come from the drive institutions are beginning to flood the cryptocurrency ecosystem.. He said:
“Basically all the big financial institutions I’ve spoken to, all the big banks, all the big investment banks, the pension funds, they all have this sector in their sights.”
When asked what a combination of cryptocurrencies and the metaverse would look like, the crypto millionaire stated that With the billions of gamers around the world, non-fungible tokens (NFTs) in video games are likely to be one of the biggest roles cryptocurrencies play in the metaverse.
According to Statista, there were around 3.2 billion players in the world in 2021. However, according to DappRadar, the crypto gaming industry only includes 1.2 million players. This suggests Integrating cryptocurrencies into mainstream games would give a huge boost to global cryptocurrency adoption and reaffirm SBF’s prediction.