We are Not in a Bear Market but the Entire World Economy is in a Depression | HackerNoon

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'We are Not in a Bear Market but the Entire World Economy is in a Depression' cryptocurrency cryptoexchange

Ishan Pandey: Hi Andrew, welcome to our series “Behind the Startup.” Please tell us about yourself and the story behindAndrew Weiner: I began my career in Crypto 6 years ago working at a KYC and AML FinTech, enjoying incredible success and acquiring a US Patent on Crypto order book technology. On this journey, I met the product team from MEXC and learned about their global expansion plans for the exchange.

Andrew Weiner: The Retail, Commercial, and Investment Banks entering our space will always be at an immediate disadvantage. The overhead and operational costs associated with this kind of digital transformation into crypto FinTech are substantial. Developing, testing, stabilizing and introducing new, secure products that intend to compete with the already-tested business models of a CEX that can charge 0.2% for profit margin is…ambitious, to say the least.

Ishan Pandey: Do you think we are in a bear market? Further, what advice would you give to traders on how to survive a bear market? Andrew Weiner: I believe BTC can hold this position for a substantial period of time simply because most of it is never traded or transacted. In the BTC community, the HODL philosophy gives it an edge in its dominance of the market. Unless those wallets suddenly change their mindset and become active, that strategy gives them a serious chance of remaining #1.

Andrew Weiner: With more institutions entering the space, the possibilities for strategic partnerships will continue to grow. Marketplaces like Shopify, and their global competitors, are developing and integrating crypto in ways we’ve yet to enjoy the benefits.

Ishan Pandey: Elwood Technologies, the crypto trading platform founded by British billionaire hedge fund manager Alan Howard, has secured $70 million in a funding session that included Goldman Sachs, Barclays, and others. In your opinion, what is the future of the TradFi space now that it is merging with the crypto ecosystem?

Our industry has been clever in the way we brand, market, and word our products, promotions, and services...but let’s not pretend that the rules we have today are ambiguous, or that the use-case of what makes security is a source of confusion. For me, it isn’t. To answer the question directly, whether you have a paper or digital share certificate representing ownership in something; an asset is an asset… security is security… and like my friend said in 2019, a duck is a duck.

 

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