Crypto’s Wild Ride: Venga CEO Michael Stroev Cuts Through the Chaos at Paris Blockchain Week
From rug pulls to regulatory whiplash, the crypto industry keeps traders and founders on their toes. Venga’s CEO Michael Stroev sat down at Paris Blockchain Week to unpack the madness—with equal parts optimism and wariness.
The Good, the Bad, and the Overleveraged
Stroev didn’t shy from crypto’s contradictions: decentralized ideals clashing with VC money, ’bankless’ evangelists still waiting for their Lambos. His take? Infrastructure wins—not hype cycles.
A Cynic’s Footnote
’Tokenomics’ won’t save you from bad timing—just ask the hedge funds who bought the 2021 ATH. Stroev’s advice? Build. Then build some more.
Making Crypto Accessible to the Masses
Venga launched officially in September 2024 to provide a simpler gateway into the crypto space. According to Stroev, the platform offers users the ability to deposit euros, buy cryptocurrencies, and either withdraw their assets to a decentralized wallet or keep them within Venga’s ecosystem for additional services.
“Our mission as a team, as a company, is to take innovations from DeFi, formerly Web3, and bring those innovations to the masses,” Stroev explained.
He emphasized that despite offering basic services like euro deposits and withdrawals, Venga’s primary focus remains rooted in promoting decentralized technologies rather than replicating traditional financial products.
Although Venga currently provides IBAN accounts to support fiat transactions, Stroev stressed that traditional finance elements are secondary. “We’re very much on the innovation up on the Web3 and DeFi side,” he said, noting that more fintech-related products could be introduced later.
Overcoming Barriers of Education and Discovery
In Stroev’s view, two key barriers still stand in the way of mass crypto adoption: education and discovery. While public awareness of assets like Bitcoin and Ethereum has grown, he believes most people remain unfamiliar with the broader potential of Web3 technologies.
“Education is still a huge roadblock for allowing people to enter into the space,” Stroev said.
He added that users need better ways to discover reliable projects before education can begin. Drawing from his own experience, he described the current discovery process as time-consuming and complex, often requiring attendance at events like Paris Blockchain Week or extensive research across social media platforms.
“We want to VET all these projects and all these innovations for people,” Stroev said, positioning Venga as a potential marketplace for trusted Web3 and DeFi projects. The idea is to provide users with a curated experience that simplifies their entry into an otherwise complicated ecosystem.
Building for the Long Term Despite Market Challenges
Launching during a difficult period for the crypto industry has not deterred Stroev’s optimism. He explained that when Venga announced its launch, the platform was still in a minimal stage, offering limited products. Now, with a full MVP available, the company feels better prepared to compete and grow.
“We’re at the very starting point of our hyperparabolic curve,” he said, indicating that several new products are planned for 2025.
Asked about the impact of market downturns, Stroev reflected on previous crises, such as the collapses of Terra Luna and FTX. “At that time, I kind of said, ‘Wow, it’s the end of the world.’ Now, I’m not so much worried,” he said. He attributes current market conditions largely to evolving U.S. policies, noting that legislation under development, such as a stablecoin bill, could eventually drive significant positive change.
Ultimately, Stroev sees Venga’s development as a long-term effort, regardless of short-term market volatility.
This interview was produced in partnership with Paris Blockchain Week 2025.
