For five to ten years, cryptocurrency developers should stop catering to US clients, says the founder of DYdX
Learn why DYdX's founder suggests cryptocurrency developers should stop catering to US clients. Explore the implications of this advice.
Crypto Builders Should 'Give Up' Serving US Customers for 5-10 Years ? DYdX Founder
Antonio Juliano, the founder of decentralized exchange dYdX, believes that crypto builders should focus on serving markets outside the United States for the next five to ten years. He argues that the regulatory uncertainty in the US is not worth the "hassle" or "compromises."
Juliano made his comments in a Twitter thread on August 25, 2023. He wrote:
Crypto builders should just give up serving US customers for now and try to re-enter in 5-10 years. It's not really worth the hassle/compromises. Most of the market is overseas anyways. Innovate there, find PMF [product market fit], then come back with more leverage.
Juliano's comments have sparked a debate in the crypto stock price community. Some people agree with him, while others disagree.
Arguments in Favor of Juliano's Position
There are a number of arguments in favor of Juliano's position. One argument is that the regulatory uncertainty in the US is making it difficult for crypto businesses to operate. For example, the Securities and Exchange Commission (SEC) is currently investigating a number of crypto companies. This uncertainty is making it difficult for crypto businesses to plan for the future and attract investors.
Another argument in favor of Juliano's position is that the US market is not as big as it is often made out to be. According to CoinGecko, the US is only the third-largest crypto market in the world, behind China and India. This suggests that there is a lot of growth potential in other markets.
Arguments Against Juliano's Position
There are also a number of arguments against Juliano's position. One argument is that the US is still the most important market for crypto. The US is home to some of the largest crypto exchanges and investors. If crypto businesses give up on the US market, it could stifle the growth of the industry.
Another argument against Juliano's position is that it is difficult to find product market fit in other markets. What works in one market may not work in another market. This is because different markets have different cultures, regulations, and technological infrastructure.
There are a number of arguments for and against Juliano's position. Ultimately, the decision of whether or not to serve the US market is a business decision that each crypto market prediction company will need to make for itself.
Additional Information
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