Brad Garlinghouse, Ripple CEO, tells investors and crypto-startups to avoid the United States as a destination due to uncertain policies around digital assets.
At a conference in Singapore, he advocates for countries with smart policies and suggests that they should avoid the country.
The SEC’s lawsuit against Coinbase and Binance, for example, was seen as one of the reasons why.
Other reasons include the perceived war on crypto by the SEC and the volatility of Bitcoin.
In a new twist, OKX agrees with other cryptocurrency exchanges that a spot Bitcoin ETF would be good for the industry but raises concerns about custody and volatility.
He believes investors may not be ready for custody solutions as most of the technology remains untested.
Fang further advises industry players to focus on what they can control amid the regulatory meltdown, which is to build the right product and to support responsible regulation.