Crypto industry experts are discussing whether it’s time for builders and developers to shift their focus away from the United States and target markets outside the country. The founder of decentralized exchange dYdX, Antonio Juliano, has voiced his opinion that the current regulatory uncertainties in the US make it more worthwhile for crypto builders to avoid the hassle and compromises associated with the US market. Juliano suggests that focusing on other countries for the next five to ten years could be a more strategic move.
Juliano shared his viewpoint with his followers on the social media platform X (formerly Twitter), advocating that crypto builders should temporarily give up on serving US customers and instead concentrate on innovation and product market fit (PMF) in other markets globally. He believes that most of the crypto market is outside the US anyway, so experimenting and finding strong PMFs overseas could provide valuable leverage for re-entering the US market later.
The founder acknowledges the importance of US policy work in the crypto space but emphasizes that it takes time and a considerable user base to influence policy effectively. He points out that while the US is influential in shaping global regulations, the lack of widespread crypto adoption weakens its policy impact. He suggests that only when there are products with massive usage and user demands will policy changes truly take root.
Juliano’s perspective comes as the US struggles with unclear regulations and jurisdictional uncertainties in the crypto space. Many believe that the industry needs to continue growing to gain more influence over US policy. Brian Armstrong, CEO of Coinbase, responded to Juliano’s argument, expressing his belief that the situation might improve sooner than expected, possibly by next year.
However, the consensus remains divided, with some agreeing with Juliano’s idea of a multi-year shift away from the US market to focus on building overseas, while others remain optimistic that the US will eventually find a way to adapt to the evolving crypto landscape.