dYdX Founder Says Crypto Industry Should Give Up on US Customers As Market Not ‘Worth the Hassle’
The founder of the decentralized exchange dYdX believes that crypto builders should focus on serving markets outside the United States for the next five to 10 years.
Antonio Juliano tells his 49,400 followers on the social media platform X that the regulatory uncertainty in the United States is not worth the “hassle” or “compromises.”
According to Juliano, it is better for crypto developers to build their products in other countries and then come back to the United States in a position of strength.
“Crypto builders should just give up serving US customers for now and try to re-enter in 5-10 years It’s not really worth the hassle/compromises. Most of the market is overseas anyway. Innovate there, find PMF (product market fit), then come back with more leverage…
The only thing that matters for all of us is crypto finding 10x stronger product market fit. *You don’t need to have perfect distribution to iterate and find a strong product-market fit.* There [are] plenty of big overseas markets to experiment in.”
Juliano says that lobbying for friendlier crypto regulation takes time, but the process could be expedited if builders manage to create products that consumers demand.
“This does not mean crypto US policy work is not important. It absolutely is as it takes a really long time (must be ready for re-entry) and much of the world will follow the US’s lead.
Crypto not yet having world-scale usage/product market fit means we don’t yet have much influence in policy. We need to have products with massive usage where users (voters) say, ‘Wait, I need this.’”
The dYdX founder goes on to say Americans will eventually realize that crypto is perfectly designed for US values and principles.
“Crypto is aligned with American values. What could be more American & capitalist than a financial system of the people, by the people, and for the people That is literally what we’re building here.”