Crypto Crash Was Good for Industry, Weeded Out ‘Tourists’
- Speculators have left, leaving sustainable businesses behind
- Revolut’s head of crypto said regulation has helped business
Irina Haivas during the Bloomberg Tech Summit in London, on Sept. 28.
Photographer: Chris J. Ratcliffe/BloombergThis article is for subscribers only.
This year’s difficult economic climate has weeded out some of the crypo industry “tourists,” leaving behind a stronger set of companies, said Irina Haivas, a partner at venture capital firm Atomico.
“It’s not bad that the hype has gone,” she said, speaking at the Bloomberg Technology Summit in London on Wednesday, as it means the people building crypto companies are aware of the market conditions and “want to build something more sustainable rather than speculate around it.”