Shapeshift’s Erik Voorhees Says Cryptos Will Be Crisis Safe Havens
Erik Voorhees, the Shapeshift CEO, has recently announced on a video that cryptocurrencies will become a safe haven for investors during a crisis in the financial market because they are uncorrelated with the traditional financial markets.
He states that a lot of bubbles collapse over time, so there will be another crisis in the market soon and the next that it happens, people will have the option to use cryptocurrencies and this will cause a “very brutal awakening” to the people who do not believe in the potential of crypto.
During the interview, Voorhees also talked about the founding of his company and his initial moves to make a successful company in the crypto market. He also defends the lack of regulation in the cryptocurrency industry and his relation with the authorities, transparency in his company and other subjects.
Shapeshift is a cryptocurrency exchange based in Switzerland which was created to make really fast transactions and save people’s time. The company does not collect data from its clients (like many crypto companies) and was founded in 2013 by Voorhees.
Because of this, all the data gathered by the company is about the transactions and is completely transparent for any person to see.