Devin Ryan, head of financial technology research at JMP Securities, spoke candidly about a wide range of crypto industry topics in a recent exclusive interview with Fox Business.
Topics discussed included macro regulation amid upcoming expectations of the White House policy framework, states in the US accepting bitcoin as legal tender, and great potential for consumer adoption in the coming year.
Cryptocurrencies have seen significant volatility over the past month, with Bitcoin shedding nearly 44% from its all-time high and Ethereum falling similarly.
Despite constraints on pricing, capital investment, consumer acceptance, community optimism and company valuations for the emerging space, citing multi-billion dollar valuations for Animoca Brands ($5 billion), Fireblocks ($8 billion) and FTX ($32 billion US dollars) peak.
Additionally, he pointed to the potential of cryptocurrency mechanisms that could be integrated into the gaming space, judging that “people can make money in ways that have never been seen before.” He also stated that is the “new frontier” and predicts that the sector’s overall growth will outpace short-term volatility as it enters the race for popular adoption.
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