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Grayscale CEO claims that the company has been through crypto winter.
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Sonnenshein More regulation and consolidation are expected in the cryptocurrency sector.
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HoweverHe believes that cryptocurrency as an asset class is here to stay.
Grayscale CEO Foresees More Rules and Mergers in the Crypto Space
Grayscale CEO Michael Sonnenshein was recently featured on CNBC’s Squawk Box, in which he declared his belief that more regulation and consolidation is imminent in the cryptocurrency industry.
“Is a #crypto Winter, we’ve been through this before. At the moment, what you are going to see is more regulation and more consolidation in the industry,” He says. @Grayscale CEO @sonnenshein. “I have never been more certain that cryptocurrencies as an asset class are here to stay.” pic.twitter.com/SqWhfvkUvp
— Squawk Box (@SquawkCNBC) December 19, 2022
The Grayscale executive remarked that the crypto winter has already begun, and the team is familiar with the situation. He went on to explain that they are expecting to see more regulation and consolidation in the industry, as bad actors are being removed from the market and the sector becomes stronger and more resilient.
“It’s a crypto winter, we’ve been through this before, unfortunately, we’re going through it again, and we may have to go through it again in the future. At the moment, what you will see in this crypto winter would be more regulation and more consolidation in the industry. We have seen bad actors removed from the ecosystem time and time again, and cryptocurrencies emerge more resilient and stronger every time we see a winter.”
When asked if he was positive that the same outcome would happen on this occasion, Sonnenshein answered in the affirmative. He added that he had been in the crypto space for the last nine years, and he had never been more certain that digital assets are here to stay.
