Peter Smith, CEO of Blockchain.com, has stated that if the United States experiences its first-ever debt default, cryptocurrencies will likely take a hit in the short-term. However, Smith expects a quick recovery and a strong push upward in the crypto market in the long-term.

He also predicts that 2024 will be a very strong year for the crypto space, based on a pattern of high years followed by corrections and recoveries. Smith confirmed that Blockchain.com is considering expanding its small Middle Eastern office in the United Arab Emirates.