Solana co-founder advises crypto startups to move to the US
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Solana co-founder Anatoly Yakovenko has advised crypto startups to relocate to the US now that the country is set to have more regulatory clarity. In a post on X, Yakovenko noted that the upside of moving to the US is limitless for these startups. Although the crypto executive admitted that operating in the US comes with significant legal costs, he believes the US market has great potential, making it ideal for startups to thrive. He said: “You should prepare for moving your crypto startup to the US. The lawyers will still carve a pound of flesh out of your startup, but once the rules are clear the upside is unbounded. US is the largest unified free market economy in the world.” His comments reflect the current sentiments in the US about how the Donald Trump administration will be favorable to the crypto industry. These expectations have fueled a market rally that has seen Bitcoin surpass $100,000 for the first time, with many altcoins also soaring in value. However, some users believe that startups may not need to move to the US before they can attract users from within the country. Yakovenko did not fully agree with this opinion, noting that he believes regulatory clarity in the US could make it harder for offshore crypto companies to access the US market. Trump’s presidency is changing the US stance on crypto Meanwhile, several people agree with Yakovenko’s comments. Jeremy Allaire, the CEO of USDC stablecoin issuer, Circle, noted that that is why the company is relocating its global headquarters to the World Trade Center in New York City. This highlights how things have changed in the US in less than a month since Trump won the presidential election. Before then, the general sentiment among crypto stakeholders had been to leave the country for…
Filed under: News - @ December 5, 2024 5:22 pm