Antonio Juliano, the founder of decentralized exchange dYdX, has advised cryptocurrency builders to consider shifting their focus away from the United States market for the next five to ten years. He suggests that builders explore alternative markets and return when the environment is more favorable. Juliano’s recommendation particularly targets cryptocurrency developers, especially startups, encouraging them to prioritize foreign markets to overcome fewer challenges and promote expansion and adoption.
Juliano’s perspective is geared towards startups that could potentially experience accelerated growth in more receptive foreign markets. He argues that crypto builders should temporarily forego serving US customers and instead focus on innovating and finding product-market fit in overseas markets. He stated, “Crypto builders should just give up serving US customers for now and try to re-enter in 5-10 years[…]Most of the market is overseas anyways. Innovate there, find PMF [product market fit], then come back with more leverage.”
He also highlighted the significance of the crypto industry’s growth on a global scale in order to exert greater influence over US policies. Juliano acknowledges the challenges posed by uncertain and evolving regulations in the US. His approach emphasizes the need for cryptocurrency to achieve widespread global usage and influence, which could ultimately shape effective regulatory policies.
While differing opinions exist, such as Brian Armstrong’s, CEO of Coinbase, who predicts a faster timeline for regulatory improvements in the US, Juliano’s viewpoint underscores the value of establishing a strong global presence to navigate regulatory landscapes and contribute to the evolution of the cryptocurrency industry.