Kris Marszalek, CEO of leading cryptocurrency exchange CryptoCom, said that the crypto industry will come back strongly. During an interview with CNBC on Wednesday, he gave some reasons why he believes the asset class will recover.
The crypto sector recently witnessed major turmoil, with the value of crypto assets dropping more than 50% since its peak in November 2021.
Kris Marszalek: Crypto Will Bounce Back
Marszalek noted that the industry will eventually bounce back from the recent crash because of the fundamental utility of the technology and how it can change the world for the better. However, he said nobody knows when the market will recover or how it’s going to play out.
The CEO said that since the crypto sector is not separated from the broader economic environment, things like inflation, Fed policies, supply chains, or global conflict will matter to the timeline for recovery.
“We just believe that eventually, markets will find their bottom, and cryptocurrency is going to come back really strong. So we remain extremely well positioned,” he said.
CryptoCom Expands Into New Markets
Marszalek also discussed CryptoCom’s recent aggressive expansion during the interview. He stated that the company is an active buyer and that the expansion is part of the firm’s broader strategy.
The CEO said CryptoCom is working actively with regulators to make sure the company is regulated in every market that matters to the crypto sector.
Two months ago, the crypto exchange obtained provisional approval of its Virtual Asset MVP License from the Dubai Virtual Assets Regulatory Authority (VARA), to offer full suite crypto services in the Emirate.
In July, the company received registration and regulatory approval from the Organismo Agenti e Mediatori (OAM) in Italy. In the same month, the company also received approval in Cyprus, Greece, and Singapore.
Just recently, CryptoCom expanded into South Korea through new acquisitions. Marszalek noted that South Korea is a “very important” and active market for crypto.
