- Michael Gronager, Chainalysis CEO, shares views on crypto regulations and trading for 2023.
- Gronager thinks there is a demand for centralized exchanges in the exchange sector.
- The Chainalysis’s founder said, “one thing unique about crypto is transparency.”
Michael Gronager, co-founder and CEO at Chainalysis, discusses his outlook for crypto regulations and trading for 2023 as he spoke to Bloomberg.
As per Bloomberg, one of the anchors asked Gronager what’s in store for centralized exchanges in the year ahead, given the drama unfolding around FTX. She asks about regulations and funds to counter risks spilling over into other financial spaces.
Gronager asserts that there is a strong demand for centralized exchanges in the larger exchange sector. He added that exchanges have long been a vital component of the crypto industry, they support the current financial system.
Furthermore, the Chainalysis founder claimed that exchanges play a significant role in marketing crypto. He said they help promote crypto in numerous ways and facilitate client and customer crypto trading.
The analyst said, “Exchanges unquestionably have something that makes it easier for consumers to use and have access to. Gronager suggested that this is undoubtedly necessary, and recovery will soon be seen in the near future.
Another anchor asked if there will be a greater grasp on market inefficiencies that have nothing to do with blockchain. the underlying technology? What changes may we expect to see in 2023?
Chainalysis’ founder replied, “One thing unique about crypto is transparency. There’s a unique level of transparency possible in the blockchain space.” One can see all funds moving everywhere, and that’s unprecedented. He said this was commonly unheard of in the economy before.
Moreover, the fraud with FTX is an example of old finance where what happens off-chain, on the books inside an exchange, cannot be seen.
On the subject of billions of dollars still missing from FTX, Gronager shared they are working closely with FTX’s bankruptcy trustee to determine where the money is and what’s left. He revealed that they have traced and recovered over a billion dollars in assets. We are working with FTX, regulators, and customers in terms of trying to find more funds.
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