Crypto Winter Is Coming to an End, FTX US President Says.
Brett Harrison, president of FTX.US, believes that crypto winter could be over soon. In an interview with Bloomberg Technology, Harrison was asked about a recent deal between Coinbase and BlackRock, the world’s leading asset management company by total AUM. The president of FTX.US stated that the deal signals that the crypto winter is “beginning to thaw,” noting the massive impact of institutional demand on crypto assets. He added that now is the time to build; when investors start trading crypto again, we will have the necessary tools and capital in place.
Harrison also pointed to the increasing price of the cryptocurrency in the market and the end of forced liquidation and bankruptcy of crypto companies. According to him, rising prices and positive sentiment seem to indicate that the crypto winter is coming to an end. When asked to comment on layoffs announced by rival exchanges Coinbase and Robinhood, along with traditional tech giants like Google and Microsoft, Harrison replied:
I think there’s a real lesson to be learned here, which is that growing companies that often operate on the model that headcount growth is a sign of company growth realize that sometimes headcount growth can get in the way of company growth.