SBF “optimistic” about institutional adoption of crypto in 2022

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The founder of the FTX crypto exchange, Sam Bankman-Fried, is optimistic that the clarity provided by regulators around the world will boost crypto institutional adoption rates this year and beyond.

In a Jan. 3 interview with Bloomberg, SBF spoke about crypto regulations, institutional adoption, and the metaverse. Despite the difficult end of 2021 for the markets, the SBF is “optimistic” about 2022.

“The things that make me optimistic are essentially more regulatory clarity in the United States and around the world, which I think could help institutional adoption tremendously.”

When asked how he thought institutional adoption of crypto might accelerate in the future, he replied, “A lot of it depends on what exactly is happening on the regulatory front as well.”

His take on regulatory clarity encouraging more institutional growth in crypto echoes the views of Beili Baraki of Nansen and Nikos Andrikogiannopoulos of Metrika, reported by Cointelegraph on January 3.

He offered the possibility that if jurisdictions “feel like they are getting regulatory clarity”, this adoption could come in a “tidal wave”. However, rather than the tidal wave scenario, “it will be a long process, probably spread over a few years,” he added.

In addition, he noted that “many different governments have announced that there will be regulatory frameworks over the next year.” Several governments have worked hard to define their appropriate regulatory frameworks for cryptocurrency.

Related: Number Of Countries Banning Crypto Has Doubled In Three Years

Another source of optimism for SBF seemed to come from the vigor with which institutions are beginning to flood the crypto ecosystem. He said,

“Basically every big financial institution I’ve talked to, every big bank, every big investment bank, pension funds, they’re all eyeing this industry. “

When asked what a combination of cryptocurrency and metaverse would look like, the crypto billionaire pointed out that with the billions of players around the world, non-fungible tokens (NFTs) in video games will likely be. one of the most important roles crypto plays in the metaverse.

There were around 3.2 billion players worldwide in 2021 according to Statista. However, the crypto gaming industry only has 1.2 million players according to DappRadar. This suggests that integrating cryptocurrency with mainstream gaming would give a huge boost to global crypto adoption, reconfirming SBF’s prediction.

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