According to Kris Marszalek, CEO of the prominent cryptocurrency exchange CryptoCom, the crypto sector will make a significant comeback once it rebounds from the present bear market. This past Wednesday, he spoke with CNBC to discuss his optimism for the market’s eventual rebound.
The value of crypto assets has fallen by more than 60% from its high in November 2021, causing severe turbulence in the crypto sector.
Marszalek predicted that, despite the current downturn, the sector will recover in the long run due to the technology’s inherent value and potential to improve society. However, he also noted that nobody can predict when or how the market would rebound.
The CryptoCom CEO continued by saying that the crypto industry is not immune to macroeconomic factors, thus things like inflation, Fed policies, supply chains, and global war will all impact the time frame for recovery.
We are certain that the bitcoin market will recover strongly after the crypto markets have reached their bottom. We’re still in a fantastic situation,” he said.
During the course of the conversation, Marszalek also spoke at length about CryptoCom’s recent growth plans. He said that the exchange is a strong purchaser, and that entering new markets is a crucial aspect of the company’s long-term plan.
The CEO said that the business is working closely with authorities to ensure that CryptoCom is appropriately governed in all key jurisdictions throughout the crypto industry.
The Dubai Virtual Assets Regulatory Authority (VARA) granted the cryptocurrency exchange conditional approval of its Virtual Asset MVP License two months ago, allowing it to provide a complete range of crypto services in the Emirate.
The Italian government’s Organismo Agenti e Mediatori (OAM) granted the firm registration and regulatory permission in July. The same month that Cyprus, Greece, and Singapore gave its stamp of approval, the firm also got the green light in the United States.
Recently, CryptoCom made several strategic purchases that allowed it to enter the South Korean market. When asked about “extremely significant” and “active” cryptocurrency markets, Marszalek mentioned South Korea.