Cointelegraph’s editor-in-chief Kristina Cornèr interviewed Bybit founder Ben Zhou in the F1 Grand Prix at Monaco, discussing topics like educating newcomers in crypto, the results from the Terra (LUNA) — now referred to as Luna Classic (LUNC) — debacle on institutional interest and also the survival of Bitcoin (BTC) among new developments in the market.
Based on Zhou, the firm’s partnership with Red Bull Racing has permitted these to achieve a crowd that’s a new comer to crypto. Due to this, the Bybit founder noted their team continues to be putting some concentrate on education. “Education is a part. We concentrate on teaching people why and just how is crypto playing a component,” Zhou stated.
Aside from educating newcomers, the duo also spoken about how exactly the current Terra collapse has affected the eye of institutional investors’ rely upon crypto. Hitting the scales around the subject, Zhou stated that occasions such as the Terra crash can occur with any new industry. He noted that:
“LUNA wasn’t the first sort of collapse that we have seen. I believe we’ll go on and progressively move ahead.Inches
When requested if Bitcoin will stay the primary crypto within the space in in the future as new innovations like nonfungible tokens (NFTs), decentralized finance (DeFi) and also the Metaverse gets to be more developed, Zhou expressed that although the long run is uncertain, he remain’s “bullish.” He described that:
“I believe Bitcoin is not going anywhere soon without a doubt. For me personally, Bitcoin is really a store of worth. It’s a lot like gold, right? […] There is a concrete requirement for it.”
Zhou also highlighted he believes in crypto since it redistributes power. The Bybit founder noted that “crypto can be a revolution for that economic climate.” While traditional finance is controlled with a couple of, Zhou noted that crypto gives power back to folks.
Related: F1 Monaco GP: Bybit’s Red Bull Racing NFTs, crypto-F1 partnerships and much more
In April, Bybit expanded its services into crypto options buying and selling, letting its users trade options and perpetuals using USD Gold coin (USDC). Based on the exchange, the move was an effort to achieve investors who’re more acquainted with traditional finance markets.
