In the recently held SALT Conference, former Binance.US chief executive officer Brian Brooks said that the crypto industry could be a $15 trillion industry in the future.
He added that with the current trend and phase of crypto adoption, this size is not an impossible feat.
The conference was attended by hedge fund managers and officials from banks, asset management companies, and compliance entities.
According to Brooks, the current size of the crypto industry has already reached $2 trillion, and while this may sound already huge, he said that this size would only be a fraction of what the industry would achieve in the future.
Brooks said that with the continuous adoption of government, various industries, and financial institutions of cryptocurrencies, the digital asset class would certainly be a gigantic industry in the future.
Global adoption
“You need major institutional adoption; not just one or two companies, but you need all the companies on that main stage to invest and that means mainstream management, it means large scale custody, it means crypto native compliance solutions,” Brooks said.
He also praised the companies that are building solutions in the field of cryptocurrency, and he said that their collective effort would establish a stronger and safer foundation for the crypto industry.
Brooks highlighted the importance of the financial institutions’ presence in the conference because it would help them have a clear view of how the world would soon embrace cryptocurrency.
Brook’s previous exit
It can be remembered that Brooks had unexpectedly stepped down as Binance.US CEO, and said that this decision stemmed from the difference between him and the management’s vision in dealing with the U.S. market.
Before becoming Binance.US’s chief executive, Brooks served as an Acting Comptroller of the Currency at The Office of the Comptroller of the Currency (OCC), a bureau in the U.S. Department of Treasury.
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