As U.S. regulators clamp down on crypto, GWilliamsJr_CMT ponders a major market maker’s comment: “There’s no reason why innovation and regulation have to be mutually exclusive.” Read about it in this week’s “Crypto Long & Short.”
The overall number has grown 43% in the past two years and 110% over the last three – though it is down 17% since November, when the FTX exchange’s collapse caused so much industry turmoil.
The second development has me concerned, however. While the overall number of developers has gone up, their ranks are dwindling in the U.S. The proportion of developers based in the U.S. has dropped to 29% from 40% in 2017. The lowest hanging fruit to grab in this regard is Securities and Exchange Commission Chair Gary Gensler’s comments on cryptocurrencies and what appears to be a hostile attitude towards the sector.
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