An important comment came from the manager of Cantor Fitzgerald, who is known as an active market maker especially in the bond and stock markets, about the collapse of Terra Luna and the collapse of the FTX stock market, about institutional investors who lost their appetite for risk. According to Elliot Han, who leads the company’s investment banking activities in the digital assets, blockchain and crypto space, individuals who are persistent in the crypto space are currently exploring its various applications. Han told CNBC at Digital Assets Week, a conference for major financial institutions in the United States, in San Francisco:
There is a lot of excitement in this area right now. Numerous organizations are examining the issue from a variety of perspectives and angles. Our current goal is to gain knowledge and insight into additional applications that are not immediately visible.
There was a high level of excitement and activity at that time, according to Han, who spoke of the rising period in 2021. The crypto and blockchain phenomena have generated a significant amount of excitement and enthusiasm.
To be honest, individuals did not approach the issue from a practical point of view, instead focusing only on the financial gains that could be achieved.
The ability to tokenize tangible assets such as gold on the blockchain is a prominent and emerging issue in this industry. Many respondents argued that this measure will enable institutions to offer their clients more information and data about their investments. Now, “we’re seeing a lot more maturity,” said Han, attributing this to regulations that are slowly falling into place and more institutional players entering the space. Elliot Han expressed his optimism as follows;
Rumors about the arrival of institutions were common, but even after several years their presence did not materialize in significant numbers. Have the flood gates been opened? No, I do not have such a belief. However, it can be observed that there has been a significant increase in the number of organizations entering this field. There is definitely an increase in the amount of experiments observed.
Commenting on cryptocurrencies, Han said that “the investment aspect is still there,” but said that the basic principle will be tokenization. Finally, the executive warned that there are still high levels of volatility, uncertainty and regulatory action that needs to be taken.