The CEO of Crypto.com, Kris Marszalek, is convinced that digital assets will be reinforced in the fourth quarter of the year, mainly drawn by the American central bank reducing interest rates.
Marszalek said in an interview with Bloomberg on Tuesday that Crypto.com’s income should be better this year, “especially if we see a drop in the Fed rate and a solid Q4.”
He added that he was betting on the American federal reserve for reducing interest rates at his meeting on September 17, which is generally good for the crypto, because the loan becomes cheaper and more liquidity is available for more risky investments.
The latest Fed rate drops were between September and December from last year, when she dropped from 5.5% to 4.5%, which resulted in cryptographic markets of 57% during these four months.
CME’s long -term prediction markets show that the likelihood of a rate drop increased to 91.7% after Jackson Hole’s speech by Jerome Powell, president of the Fed, on August 22, when he referred to the relaxation of monetary policy.
No decision on the IPO
Marszalek said his company “had the figures” to make a public list but likes to be deprived and has not yet made a decision.
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“I must admit that it is quite tempting to consider these options,” he said during a first potential public offer. Several crypto companies have collected billions of dollars this year in the midst of their public debut.
He added that the company had $ 1.5 billion income last year and around $ 1 billion in raw profits with 700 million dollars reinvested, before predicting that this year will be better.
“We have been approached by all the best names in terms of investment banks. We want to be a very well managed business, so we prepare everything, but no decision has been made at this stage. ”
Venture into prediction markets
Marszalek also revealed that the company planned to enter the space of the prediction market. “We believe that the prediction markets will be enormous,” he said, adding: “Sport is one of them, but that’s not all.”
“We want to be the liquidity center for the land prediction markets in the United States, so we will play very aggressively in this space.”
The blockchain prediction markets are currently dominated by Polymarket and Kalshi, which have reached regulatory and legal obstacles in the supply of event contracts in the United States.
CRO increases on Trump Media Partnership
Crypto.com has announced a partnership with Trump Media and Technology Group, the owner of the Social Social Social Platform by US President Donald Trump on August 26.
The agreement includes the creation of a cash strategy for the native token of exchange, Cronos (CRO).
The token increased by almost 150% to $ 0.38 after the announcement, but has since withdrew to $ 0.27, down 72% compared to its November 2021 summit.
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