According to business executives, crypto bear markets are a “great time” to start businesses

Uniswap’s Chief Operating Officer Mary-Catherine Lader argued that the market is missing certain important signals beyond cryptocurrency pricing.

“Right?” Her question was rhetorical. To wit: “Especially if you’re constructing something and you’re passionate about the technology and its possibilities and not [seeing] crypto necessarily as an asset class.”

Market capitalization for all cryptocurrencies is now around 1 trillion, down approximately 55% from 2.2 trillion at the beginning of the year. Nevertheless, new concepts, companies, and major players continue to join the industry.

“I think many of the products in the next phase could get to a point where consumers are using a product without knowing that there’s crypto behind the scenes.” Cuy Sheffield, head of crypto at Visa

“If you look at crypto market prices and pull out all of the general market decline […] what are you left with?” Brett Harrison, former president of FTX, asked during the panel. “I think you’re left with how much institutions are trading crypto and actual applications that are being built on crypto.”

During the session, Cuy Sheffield, head of crypto at Visa, discussed how the industry has evolved since the crypto bear market of 2018. There were concerns that nothing would exist but Bitcoin at the moment.

Sheffield argues that there is now a plethora of opportunities for innovation in the realm of decentralised finance, from stablecoins to crypto infrastructure to bridging conventional banking and the blockchain.