According to Henri Arslanian, regulatory uncertainty stands as the biggest challenge for crypto CEOs in acquiring new clients, as discussed in his interview with Luuk Strijers, CEO of Deribit. Strijers highlights how evolving compliance demands and differing global regulations complicate onboarding processes, impacting trading volumes and market participation. This regulatory landscape directly influences client trust and the speed at which exchanges like Deribit can scale, ultimately affecting liquidity and price discovery in crypto derivatives markets (source: Henri Arslanian interview with Luuk Strijers).