BitGo CEO Mike Belshe at TOKEN2049 Singapore: US needs to pass the CLARITY Act NOW or retail stays exposed to the same counterparty risks that nuked FTX and others.
His point: TradFi separated custody from trading decades ago. Crypto exchanges? Still mixing both, which is why they blow up.
Belshe backs ethics rules (insider trading, etc.) but says holding market structure hostage over politics is reckless. "We've complained about DC insider trading for 25 years—fix it everywhere, not just crypto. But don't block the infrastructure that protects investors."
On BitGo's play: They spent years building regulated custody and secure wallets so they can now roll out prime brokerage and structured products without the blowup risk. That's the moat.
Macro headwinds? Existing clients unfazed. New institutional money? Sitting on the sidelines waiting for risk-on conditions.
BitGo just launched a South Korean JV with Hana Bank (VASP licensed). Regulatory clarity in the US is pushing other countries to compete for crypto hub status.
$BTC outlook: Still macro-sensitive. AI market shifts can swing short-term price. Belshe expects higher from here but no hard target.
TLDR: Market structure > politics. Custody infrastructure = survival. Institutions waiting. $BTC bullish medium-term.
His point: TradFi separated custody from trading decades ago. Crypto exchanges? Still mixing both, which is why they blow up.
Belshe backs ethics rules (insider trading, etc.) but says holding market structure hostage over politics is reckless. "We've complained about DC insider trading for 25 years—fix it everywhere, not just crypto. But don't block the infrastructure that protects investors."
On BitGo's play: They spent years building regulated custody and secure wallets so they can now roll out prime brokerage and structured products without the blowup risk. That's the moat.
Macro headwinds? Existing clients unfazed. New institutional money? Sitting on the sidelines waiting for risk-on conditions.
BitGo just launched a South Korean JV with Hana Bank (VASP licensed). Regulatory clarity in the US is pushing other countries to compete for crypto hub status.
$BTC outlook: Still macro-sensitive. AI market shifts can swing short-term price. Belshe expects higher from here but no hard target.
TLDR: Market structure > politics. Custody infrastructure = survival. Institutions waiting. $BTC bullish medium-term.