Alexis Ohanian, Reddit Co-founder Says Crypto Hype Is Gone, But It Isn’t Necessarily A Bad Thing

Famously dubbed as the “mayor of the internet”, American born Internet entrepreneur, investor and the co founder of Reddit, Alexis Ohanian has accomplished a lot at a very young age. Whether it’s his contributions to the creation of the iconic hijab emoji, his protests for open internet access or the fact that his wife is Serena Williams, Ohanian has quite the impressive portfolio.

And now, we’re beginning to love him a little more after he presented his hopeful view on the future of the cryptoverse in an interview published on Yahoo Finance this past Friday.

“The hype is gone. The fervor is gone. But I think that’s a good thing.”

While talking to Andy Serwer, Ohanian began the crypto debate after Serwer questioned whether it was still wise to believe in the resilience of cryptos after this previous year. To which Ohanian replied,  “So this is the crypto winter, no doubt. ”

He went on to cite the example of Coinbase CEO, Brian Armstrong who called this time, “the spring of crypto innovation”,

And what he means is, yes, the prices are depressed. The speculators have fled. And that’s great because the people who are now building on crypto are true believers. And they’re actually builders. They’re actually building the infrastructure that it’s going to take to really make this happen.”

However, he did admit that an industry as “nascent” as crypto was still hard to make concrete predictions about but reiterated that the hype dying down was a good thing, “Now, it’s still to be seen. But what’s a strong signal to me is still some of the smartest people I know in tech are working on solving these problems. They’re building companies that are built on blockchain. The hype is gone. The fervor is gone. But I think that’s a good thing.”

Ohanian then went on to speak about how even the biggest naysayers like JP Morgan want in on the action suddenly, “I think these are just more indications that there is real innovation that is happening now that all the wild speculation is gone. And I think that’s actually a good thing.”


Komal Zaheer

Writer. Procrastinator. Bra Burning Feminazi. Likes to make people laugh. Student of Journalism.

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