KuCoin exec says bear market lets crypto companies hear users better.
Crypto has been experiencing a bear market since the spring of 2022, following a historic bull run that attracted a large number of investors, developers and users to the Web3 space. Despite the slowdown in interest and the need for companies to adjust to current market conditions, many in the industry still see this as an opportunity to mature the industry. At the Proof of Talk 2023 blockchain conference, Cointelegraph spoke with Dorian Vincileoni, the Europe business development lead of KuCoin, about how companies in the space can best utilize the bear market by focusing on users. Vincileoni stated that bear markets have given companies time to build, innovate and develop products and services to create more efficiency for users. He explained that during bull markets, there is “so much noise on the market” that it becomes harder to hear community needs. During bear markets, however, Vincileoni said that companies can hear more legitimate opinions from their organic user base. He emphasized the importance of listening to the organic base and addressing their needs. Vincileoni encouraged exchanges to focus on improvement during this time, rather than being dragged down by negative news. He also stressed the importance of community support during both the bear market and regulatory uncertainty. Vincileoni said that KuCoin has stopped trying to “assume” what’s next in terms of regulatory uncertainty and instead reacts and adapts when given clarity. He also noted that the industry can have a real impact on guaranteeing the safety of assets of users at all times. Despite the current market conditions, Vincileoni believes that the market is still “filled with opportunities” and that “we are really in the beginning of an era that we barely can envision.”