Circle executive: “Last year was not like a crypto winter, but like an ice age”

Dante Dispart, Head of Strategic Development at Circle, shared his opinion on the developments in the cryptocurrency sector over the past year and the prospects for the industry in 2023. In a post on the World Economic Forum (WEF) website, Dante Disparte noted the growing use of cryptocurrencies in the financial services sector.. According to the specialist, the ongoing bearish trend in the cryptocurrency market, the bankruptcy of several crypto lenders and the collapse of the FTX exchange could subsequently be a boon for the industry, as these negative events will lay the foundation for more responsible and affordable investments. “Remember how the dot-com bubble burst in the early 2000s, after which the future of the Internet was in the hands of companies with more sustainable business models.. The past year has been very challenging, with one of the worst bear markets in the history of cryptocurrencies.. Perhaps 2022 also marks the transfer of blockchain infrastructure and cryptocurrencies into safer hands,” wrote Dispart. Circle’s top manager also added that digital assets and blockchain will still remain indispensable tools of the economy, despite the terrible events in 2022, which indicate not a crypto winter, but a whole “ice age” for the industry.. However, despite these setbacks, many major banks and financial institutions will continue to introduce cryptocurrencies into their product lines, Dispart said. Recall that in February, Circle joined the Crypto Market Integrity Coalition (CMIC) alliance, created to increase government confidence in the cryptocurrency industry.. At the time, Dispart said that this would set standards that would regulate cryptocurrencies and protect the interests of users.