Does Crypto Have an Identity Crisis?

Is it time for a rebrand?

Image by Cristina Conti at Shutterstock

I recently read an article on CCN, a crypto, business and fintech news outlet, suggesting it’s time for “crypto” to rebrand itself, possibly adopting a new name.

I understand that we’re entering what appears to be the final phase of this market-wide bull cycle. However, looking ahead, this industry will continue to be plagued by scams, pump-and-dump schemes, hacks, bankruptcies, other controversies and recurring bear markets.

With 63%* of Americans having little to no confidence in the security and trustworthiness of cryptocurrency, some argue that there could be compelling reasons to rebrand the asset class and sector, considering the range of negative connotations associated with it.

Mind you, this data is from a February 2024 survey conducted by the Pew Research Center. At the time, spot Bitcoin ETFs were still new, BTC was less than $50,000, and most of the market was starting to gain momentum again.

Google Trends data shows that general interest in Bitcoin, crypto, and related search terms remains lower compared to the peaks of the 2017 and 2021 bull runs.