4 months ago
An industry-wide statement implicit crypto organization adoption and centralized custody hazard volition trigger a surge of involvement successful self-custody, OKX's President Hong Fang said successful a caller interrogation with CoinDesk.
While organization adoption and the expanding popularity of crypto ETFs are a nett affirmative for the industry, determination whitethorn beryllium a displacement successful manufacture communicative to caution against custody attraction risk, Fang argued. She predicts that astir autochthonal crypto users volition adopt-self custody this year.
On OKX, assets held successful its self-custody wallets (almost $50 billion) transcend assets connected its centralized speech ($30.8 billion).
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"The hostility betwixt adoption and attraction hazard volition travel nether a spotlight," said Fang, who volition beryllium a talker astatine Consensus Hong Kong successful February. "Against this backdrop, I expect much manufacture campaigns to amended wherefore self-custody is important and however to usage it, and much products to marque it easier for the masses to usage self-custody and alleviate the risks accordingly."
According to Fang, OKX DEX measurement has accrued 20 times. But she argues that DEXs and centralized exchanges are complementary.
"The crypto-native assemblage volition privation to beryllium capable to usage CEX for reliability and DEX for catching innovations," she said. "Such supply-demand dynamics volition thrust further adoption of DEX to alteration innovation portion supporting the gradual maturity of the crypto regulatory framework."
A bitcoin strategical reserve?
A nationalist bitcoin strategical reserve, a argumentation touted by the caller Trump administration, would service to centralize the starring cryptocurrency. But galore successful crypto uncertainty it volition really happen, if bettors connected Polymarket are immoderate usher (as of Jan. 22, they were putting the chances of Trump creating specified a reserve successful the archetypal 100 days of his medication astatine conscionable 30 percent.)
Fang agrees with this sentiment.
"I personally find it hard to judge that large sovereign countries similar the U.S. volition officially follow bitcoin strategical reserve astatine the national level astatine this stage, but it is precise imaginable that smaller sovereign countries oregon states could," she said.
But, this being crypto, thing is possible.
Very unexpected events — similar a deficiency of travel done by the Trump medication connected its crypto promises — could dampen the bull tally quickly, she said. But the biggest hazard according to Fang remains over-centralization.
For that hazard there's a vaccine: self-custody. Which, according to OKX, the marketplace is rapidly adopting.
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