Cryptocurrency Crash Was Good for Industry, Weeded Out ‘Tourists’
[ad_1]
The difficult economic climate has weeded out crypto industry “tourists,” leaving behind a stronger set of companies.
This year's difficult economic climate has weeded out some of the crypto industry “tourists,” leaving behind a stronger set of companies, said Irina Haivas, a partner at venture capital firm Atomico. “It's not bad that the hype has gone,” she said, speaking at the Bloomberg Technology Summit in London on Wednesday, as it means the people building crypto companies are aware of the market conditions and “want to build something more sustainable rather than speculate around it.” Edward Cooper, head of crypto at fintech startup Revolut Ltd., agreed. He said that 2020 was very frothy and euphoric with l...