{"id":79182,"date":"2023-05-23T14:59:24","date_gmt":"2023-05-23T11:59:24","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=79182"},"modified":"2025-09-11T09:34:19","modified_gmt":"2025-09-11T06:34:19","slug":"ark-invest-foresees-the-us-losing-its-lead-in-the-crypto-industry","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/ark-invest-foresees-the-us-losing-its-lead-in-the-crypto-industry\/","title":{"rendered":"ARK Invest foresees the US losing its lead in the crypto industry"},"content":{"rendered":"<p>The United States risks losing its leading position in the cryptocurrency industry, ceding leadership to the United Arab Emirates, South Korea, Australia, and Switzerland, warns ARK Invest analyst Yassine Elmandjra.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">\u25aa\ufe0fRegulatory Uncertainty Around Digital Assets Puts Innovation In The United States At Risk<br \/>\u25aa\ufe0fWhat\u2019s In Store For Meta\u2019s Ad Platform?<br \/>\u25aa\ufe0fThe FAA Has Grounded Amazon\u2019s Drone Delivery Ambitions, As Peers Soar<\/p>\n<p>Read this week\u2019s ARK newsletter here. <a href=\"https:\/\/t.co\/pPwio5qTkV\">https:\/\/t.co\/pPwio5qTkV<\/a><\/p>\n<p>\u2014 ARK Invest (@ARKInvest) <a href=\"https:\/\/twitter.com\/ARKInvest\/status\/1660736589910212609?ref_src=twsrc%5Etfw\">May 22, 2023<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>In the report, the expert noted that the recent <a href=\"https:\/\/forklog.com\/en\/news\/media-jane-street-and-jump-crypto-to-exit-the-united-states-amid-regulatory-pressure\">flight of market makers Jane Street and Jump Trading<\/a> from the United States is the first sign of a negative reaction to the ill-conceived regulation in the country.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cWhat was once a crypto ecosystem in the United States filled with well-established and trusted institutions now faces a void that is likely to dampen the interest of other major investors,\u201d Elmandjra explained.<\/p>\n<\/blockquote>\n<p>According to the analyst, the ambiguous regulatory backdrop is harming incumbents and deterring new entrants.<\/p>\n<p>In 2023 the <span data-descr=\"U.S. Securities and Exchange Commission\" class=\"old_tooltip\">SEC<\/span> pointed to violations in the operations of <a href=\"https:\/\/forklog.com\/en\/news\/sec-sues-bittrex-and-bittrex-global\">Bittrex<\/a>, <a href=\"https:\/\/forklog.com\/en\/news\/sec-issues-wells-notice-to-coinbase\">Coinbase<\/a>, <a href=\"https:\/\/forklog.com\/en\/news\/kraken-to-pay-30-million-to-settle-sec-charges\">Kraken<\/a>, <a href=\"https:\/\/forklog.com\/en\/news\/sec-accuses-gemini-of-selling-unregistered-securities\">Gemini and Genesis<\/a>. <span data-descr=\"U.S. Commodity Futures Trading Commission\" class=\"old_tooltip\">CFTC<\/span> <a href=\"https:\/\/forklog.com\/en\/news\/cftc-files-suit-against-binance-and-changpeng-zhao\">filed<\/a> a lawsuit against Binance and its CEO Changpeng Zhao.<\/p>\n<p>Crypto liquidity in the United States has &#8220;significantly diminished&#8221;, according to the ARK Invest expert. Citing data from Coin Metrics, he noted that Bitcoin&#8217;s daily trading volume in the country fell by 75% over the past two months \u2014 from $20 million in March to $4 million in May.<\/p>\n<p>Elmandjra also noted that the price of the leading cryptocurrency on Binance.US was about $600 higher than on other exchanges. In his view, this points to mispricing in the United States.<\/p>\n<p>Earlier, Coinbase management authorized the creation of a hub in the UAE. In the same month the company announced the launch of an international futures exchange for digital assets \u2014 Coinbase International Exchange.<\/p>\n<p>The institutional platform Bakkt is also examining the possibility of expanding its business in Europe.<\/p>\n<p>Earlier, Circle CEO Jeremy Allaire did not rule out the loss of US leadership in the sector to the EU, Hong Kong and the UAE.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The United States risks losing its leading position in the cryptocurrency industry, ceding leadership to the UAE, South Korea, Australia and Switzerland, warns ARK Invest analyst Yassine Elmandjra.<\/p>\n","protected":false},"author":1,"featured_media":79183,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1218,1138,26],"class_list":["post-79182","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-ark-invest","tag-opinions","tag-usa"],"aioseo_notices":[],"amp_enabled":true,"views":"14","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/79182","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=79182"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/79182\/revisions"}],"predecessor-version":[{"id":79184,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/79182\/revisions\/79184"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/79183"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=79182"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=79182"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=79182"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}