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Market Maker Flowdesk Doubled Down on the U.S. as Things Looked Bleak. Now That Bet Is Paying Off

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Flowdesk's CEO made a contrarian bet on the U.S. while the SEC was waging war on crypto. Fast forward a year, and the country has bitcoin ETFs, ether ETFs are imminent and pro-crypto legislation is before the Senate.

A year ago, market maker Flowdesk made a contrarian bet by expanding its U.S. presence during the chill of crypto winter.

"The philosophy of the company has always been the same. We have a huge conviction about where the market is going," Chaumont said this week in an interview."Building a company, particularly in crypto, is always about making contrarian bets and seeing what others didn't see. We are not very sensitive to short-term macro events. That's why we have always been very enthusiastic about the U.S. for crypto innovation.

Another headache is custody. Chaumont argued that the U.S. needs a simplified and globally harmonized regulatory framework for custody, which, if done right, could unlock massive business potential.

 

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