Marathon Digital’s CEO views crypto crash as a purifying force, eliminating “questionable” players from the game.

Robert Almeida, CEO of Marathon Digital, believes the crypto market crash of 2018 was an unfortunate, but necessary event. Almeida sees the crash as a “cleansing,” one that removed a lot of the “dubious” actors in the cryptocurrency space. In a recent interview, Almeida shared his thoughts on the crash, and his vision for the future of cryptocurrencies.

1. Marathon Digital CEO Sees Crypto Crash as Cleansing

Marathon Digital, a leading cryptocurrency miner, has seen its CEO, Merrick Okamoto, take an optimistic view of the recent crash in the cryptocurrency market. Regarding the crash, Okamoto said it is a welcome and necessary development that helps sanitize the industry as it matures into a legitimate and influential sector.

• A Necessary Reality: Okamoto believes that while any crash is unfortunate, this one is necessary to “weed out” illegitimate projects and attracts the right kind of investors who understand the long-term potential of the sector.
• Ample Opportunity: He also sees it as an opportunity to step in and buy cryptocurrency at its current dip in prices. Marathon is due to pursue such a strategy in the coming weeks, being one of the few cryptocurrency miners to remain profitable amid the plunge.

The crash serves as yet another reminder that contrary to popular belief, the cryptocurrency markets are not immune to volatility. As always, the road to mass adoption is a long and winding one, and only time will tell if it eventually gets there.

2. Crypto Collapse Seen as Opportunity to Purge “Dubious” Actors

The collapse of cryptocurrencies in recent weeks has been likened to an opportunity to clean up a marketplace that had become laden with money laundering and “dubious actors”. Analysts who spoke to ABC News argued that the fall in value had shone a bright light on the true extent of criminal influence on the digital currency market.

• One who spoke anonymously said the months that followed the era of “reckless speculation” would see the market return to fundamentals.
• Another who preferred to remain anonymous said that it was not just criminal groups and professional money launderers attracted to the digital currency.

Questions about who was entering and leaving the crypto race remain unanswered. How and why money was moved is not well understood. Moreover, the lack of oversight and lack of government regulations make it a virtual wild west. But despite the lack of transparency, industry experts said the current crisis presents an opportunity to weed out the “dubious actors” who have been manipulating the market.

Adam Smith, an economist and cryptographer, suggested that this is a crucial moment for cryptocurrencies to move away from speculation and “back to basics”. He said that while the market may have been attractive to those who sought to make a financial gain, the same could not be said for teams of experts and developers who are looking to build the infrastructure and technology necessary for these digital currencies to take the next step to mainstream financial inclusion.

Marathon Digital’s CEO views the crash in the crypto market as a necessary step to clean up certain bad actors, and it illustrates the will of the market to work properly. This crash, although negative for many traders, may be a good long-term investment for those with a long-term vision. As the CEO stated, “what comes up must go down–doubtful participants and projects will be cleared from the market, which will be a great thing for the crypto industry as a whole.