von • Jacquelyn Melinek of TechCrunch talked to CNBC Market Alert about the future of cryptocurrency in 2023.
• Retail investors will likely sit out of the crypto market in 2023, while VC funds and big brand businesses like Starbucks are likely to continue investing.
• To rebuild trust and ensure the success of the crypto ecosystem, regulators need to step in and create a framework instead of using traditional market techniques.
Jacquelyn Melinek, senior crypto reporter for TechCrunch, recently spoke to CNBC Market Alert about the future of the cryptocurrency market in 2023. After a difficult year for digital assets, investors and other stakeholders in the sector, Melinek said that there is a high chance that retail investors will sit out of the crypto market in 2023. However, she noted that true believers are those who are building the space, so these people will continue to be here in 2023.
When asked who will be the main investors in crypto in 2023, Melinek said that VC funds aren’t going to stop investing just because of the events surrounding FTX. She noted that big brand businesses like Starbucks are getting into the space and that banks are continuing to get involved as well.
When asked what needs to happen for the crypto ecosystem to regain its momentum, Melinek said that trust needs to be rebuilt 100%. She explained that regulators need to step in and create a framework instead of using old-school techniques that we see with traditional markets. This would help to rebuild trust and ensure the success of the crypto ecosystem.
Overall, Melinek believes that while retail investors may sit out of the crypto market in 2023, VC funds and big brand businesses are likely to continue investing. To rebuild trust and ensure the success of the crypto ecosystem, regulators need to step in and create a framework instead of using traditional market techniques.
