FTX’s Collapse May Improve Investors’ Trust In Crypto Tech – Nomura Executive
Jez Mohideen, the CEO of Laser Digital, stated the massive influx of traditional financial firms would help to regulate the crypto industry. He added that the presence of regulation would help to improve customers’ trust and reliability in the crypto ecosystem.
Mohideen Says Regulation Would Restore Users’ Trust In Crypto
Despite the prevalence of the bearish market condition and rampant fraudulent activities, institutional investors are still trooping in great numbers into the crypto space. Last year, the industry witnessed many investors lose their fortunes through the collapse of Terra, Three Arrow Capital, Celsius, and FTX.
The recurrent adverse events cost many investors and regulators to lose trust in the innovative technology. However, Jez Mohideen argued that the collapse of FTX is instrumental in improving trust in crypto and blockchain technology.
Mohideen is the CEO and co-founder of the digital assets branch of Asian Nomura Holdings. In his speech, Mohideen said that traditional financial players understand the importance of regulations, customers’ aggregation, execution, and stability.
He said the presence of these factors in the crypto ecosystem would help to regulate the space and encourage investors to trust the technology more. According to reports, Laser Digital Ventures are working on creating decentralized finance (DeFi) protocols and income solutions as it continues its plan to invest in about 20 projects in 2023.
Among its significant targets in its funding projects is creating businesses that offer solutions to institutional investors. Studies showed that the institutional investors market has increased since last year.
In addition, statistics showed that about 62% of institution players had added more crypto assets to their portfolio in the previous year.
Laser Digital Aim To Solve Challenges Facing Institutional investors In Crypto
Furthermore, Mohideen opined that insufficient infrastructural projects and other challenges have made it difficult for many institutions to invest in cryptocurrency. He added that his firm aims to solve these challenges by creating solutions to help institutions access the crypto space quickly.
In addition, he said crypto firms would have to look into solving real-world problems if they want to raise funds in the current bearish market conditions. Mohideen explained that Laser Digital proposals planned to create projects based on relevant metrics to achieve its purpose.
Additionally, he said the firm’s central target for the next few years is the Metaverse and Web3 development. He continued that social media, gaming, and other Web2 internets have the potential to benefit significantly from the innovation if they adopt the Web3 system and technology.
Nomura Holdings is the largest financial institution in Japan, reportedly managing about $470 billion in crypto assets in 2022. In addition, the Asian giant bank revealed last year that it plans to launch a crypto branch to venture into the crypto and NFT sectors.
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