Cointelegraph’s editor-in-chief Kristina Cornèr interviewed Bybit founder Ben Zhou on the Method 1 Grand Prix at Monaco, discussing matters like educating newcomers in crypto, the results of the Terra (LUNA) — now often called Luna Traditional (LUNC) — debacle on institutional curiosity and the survival of Bitcoin (BTC) amid new developments within the trade.
In response to Zhou, the agency’s partnership with Pink Bull Racing has allowed them to achieve an viewers that’s new to crypto. Due to this, the Bybit founder famous that their staff has been placing some deal with training. “Training is one half. We deal with instructing folks why and the way is crypto enjoying a component,” Zhou mentioned.
Other than educating newcomers, the duo additionally talked about how the current Terra collapse has affected the curiosity of institutional buyers’ belief in crypto. Weighing in on the subject, Zhou mentioned that occasions just like the Terra crash can occur with any new trade. He famous that:
“LUNA was not the primary sort of collapse that we have seen. I feel we’ll recover from it and regularly transfer on.”
When requested if Bitcoin will stay the primary crypto within the house within the coming years as new improvements like nonfungible tokens (NFTs), decentralized finance (DeFi) and the Metaverse turns into extra developed, Zhou expressed that whereas the longer term is unsure, he stay’s “bullish.” He defined that:
“I consider Bitcoin is right here to remain for certain. For me, Bitcoin is a retailer of worth. It is sort of like gold, proper? […] There is a concrete want for it.”
Zhou additionally highlighted that he believes in crypto as a result of it redistributes energy. The Bybit founder famous that “crypto can be a revolution for the monetary system.” Whereas conventional finance is managed by a couple of, Zhou famous that crypto offers energy again to the folks.
Associated: F1 Monaco GP: Bybit’s Pink Bull Racing NFTs, crypto-F1 partnerships and extra
Again in April, Bybit expanded its companies into crypto choices buying and selling, letting its customers commerce choices and perpetuals utilizing USD Coin (USDC). In response to the alternate, the transfer was an try to achieve buyers who’re extra conversant in conventional finance markets.
