Crypto

‘Crypto Dad’ predicts that few digital coins will survive

Chris Giancarlo, former chair of the US futures trading commission, says economic turmoil will wipe out most of the 20,000 digital currencies now in circulation

Chris Giancarlo, former chair of the US futures trading commission: ‘I think the change of the credit cycle, the end of the easy money, is definitely going to lead to some consolidation in the sector’

The next decade is likely to result in massive consolidation in the digital assets industry, with just a handful of digital currencies surviving for the long term, the former chair of the US futures trading commission has predicted.

Chris Giancarlo, who served as a Commissioner of the Commodity Futures Trading Commission (CFTC) from 2014 to 2019, predicted that, of the more than 20,000 digital currencies currently in circulation, just three or four such as bitcoin, ...