Marathon Digital CEO Says Dubious Operators Left Market Following Crypto Winter

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Fred Thiel, the head of mining company Marathon Digital, has noted the crypto market downturn last year as a positive step that helped rid the industry of “dubious operators” and prompted regulators around the world to act.

At the Financial Times summit, he has compared the crypto winter to the dot-com boom, which saw an “initial hype cycle” give way to a “commercialization phase.”

He has praised the regulation efforts of the EU, the UK, Hong Kong, Singapore, and the UAE and called out the US for being “kind of behind.”

According to Thiel, higher interest rates will also contribute to the crypto industry’s commercialization, making investors take less risk.