Crypto builders should ‘give up’ serving US customers for 5–10 years — DYdX founder

Sunday, 27 Aug 2023

Cointelegraph By Brian Quarmby

Original Article

The founder of dYdX argued that early-stage crypto projects could scale faster by not serving U.S. customers, as they won’t have to deal with the hassles of the U.S. regulatory climate.


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Antonio Juliano, the founder of the decentralized exchange dYdX, thinks that crypto builders should forget about serving customers in the United States over the next five to 10 years. Instead, he said builders should experiment in other markets and return once the time is right.

In an Aug. 25 X (formerly Twitter) thread, Juliano argued that builders should prioritize markets outside the U.S., as they will face fewer hurdles as they focus on platform growth and user adoption.

Juliano’s comments were mainly focused on startups as opposed to fully established projects, and he emphasized that they could scale faster overseas in friendlier markets:

“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.”

“In the grand scheme of things barely anyone uses or cares about crypto today. I personally don’t care about any outcome except growing crypto 100x+ long term,” he added.

Crypto is aligned with American values. What could be more American & capitalist than a financial system of the people, by the people, and for the people

That is literally what we’re building here. America will realize that eventually

— Antonio dYdX (@AntonioMJuliano)

August 25, 2023

Wintermute CEO Evgeny Gaevoy also chimed in on the topic by agreeing with Juliano, adding: “Only I think it will be either 2-3 years if crypto is successful or never if it is not.”

Collect this article as an NFT to preserve this moment in history and show your support for independent journalism in the crypto space.

Magazine: Crypto regulation — Does SEC Chair Gary Gensler have the final say?


Cointelegraph By Brian Quarmby

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