Circle executive believes that crypto winter will bring steadiness in 2023; will it?
- Circle CSO Dante Disparte believed that the crypto winter would usher in steadier and durable actors in crypto.
- Disparte expressed a positive outlook for crypto in 2023
2022 was not the best year for crypto. Billions of dollars lost to exploits and hacks, paired with several high-profile bankruptcies and unprecedented failures, made the year one to forget.
However, stakeholders of the crypto industry are now looking forward to 2023. They hoped that the year would reverse the damage by the crypto winter, both financially and in terms of the industry’s market perception.
Could the crypto winter end in 2023?
Dante Disparte, the Chief Strategy Officer of Circle, shared the sentiment of a positive year ahead. Disparate also serves as the head of global policy for Circle, which is best known as the issuer of the world’s second largest stablecoin, USD Coin [USDC].
In an article penned for the World Economic Forum (WEF), Dante Disparte shared his thoughts on what the new year has in store for the crypto industry. The crypto winter may translate into a net positive for the industry, by getting blockchain technology into “steadier hands.”
He compared the crypto industry’s challenges in 2022 to the famous Dot-com bubble of 2000. According to Disparte, the industry wide crash of internet companies’ shares paved the way for “more durable” companies to participate in the industry.
The bull case for crypto
Disparate also pointed out the increasing use of blockchain technology in key traditional sectors, including financial services. According to him, this will help cryptography and blockchains become integral parts of the modern economic toolkit.
Earlier this week, Disparte authored an opinion piece in the Diplomatic Courier. This op-ed highlighted the disingenuous conduct of bankers who, on one hand, criticized the technology behind crypto, but on the other hand, co-opted the innovations derived from the same tech.