SEC chair Gensler confirms “everything other than Bitcoin” is a security: Implications and analysis

SEC chair Gensler confirms “everything other than Bitcoin” is a security: Implications and analysis

SEC Chair Gary Gensler reiterated that Bitcoin is not a security but a commodity under the Commodity Futures Trading Commission (CFTC) purview. He also stated that “everything else other than bitcoin is a security,” which has significant implications for regulating cryptocurrencies and digital assets in the United States.

Gensler’s statement reflects the SEC’s long-held view that many cryptocurrencies and digital assets are securities under U.S. law. The SEC’s definition of a security is broad — it includes any investment contract in which an individual invests money in a common enterprise with the expectation of profits solely from the efforts of others. In other words, if an asset is sold as an investment with the expectation of profit based on the efforts of others, it is likely to be considered a security.

Gensler’s comments have sparked debate in the cryptocurrency community. Some argue that his view is overly broad and that many digital assets do not fit the SEC’s definition of a security. Others argue that the SEC’s approach is necessary to protect investors from fraudulent or manipulative activities in the cryptocurrency market.

One of the key implications of Gensler’s comments is that many digital assets may be subject to SEC regulation. This could include initial coin offerings (ICOs), a crowdfunding campaign where investors purchase digital tokens in exchange for cryptocurrencies like Bitcoin or Ethereum. Many ICOs have been criticized for their lack of transparency and accountability, and the SEC has taken enforcement action against several ICO issuers in recent years.

Another implication is that exchanges that trade digital assets may be subject to SEC oversight. Under U.S. law, exchanges facilitating securities trading must register with the SEC and comply with various regulations. If the SEC views many digital assets as securities, then exchanges that trade those assets may also be required to register with the SEC and comply with its regulations.

His comments suggest that the SEC may take a more aggressive approach to regulating the cryptocurrency market. This could include increased enforcement actions against issuers of digital assets considered securities and against exchanges that facilitate trading those assets. It could also lead to new regulations to increase transparency and accountability in the cryptocurrency market.

The SEC’s approach to regulating cryptocurrency has been debated for several years. Some argue that the SEC’s current approach is too cautious and stifling innovation in the cryptocurrency space. Others argue that increased regulation is necessary to protect investors from fraud and manipulation.

Gensler’s comments suggest that the SEC will likely take a more assertive approach to regulate the cryptocurrency market in the coming years. This could include increased enforcement actions, new regulations, and closer scrutiny of digital assets and exchanges that operates in the U.S.

Maybe we can take a step back to look into a few things. Firstly, it’s important to understand the context of Gensler’s statement. As mentioned earlier, Gensler reiterated the SEC’s stance in an interview with CNBC in July 2022 that Bitcoin is not a security but a commodity that falls under the Commodity Futures Trading Commission’s jurisdiction. He did not label other digital assets, avoiding answering the question directly. However, in a tweet by Jake Chervinsky in February 2023, it was suggested that Gensler may have prejudged that every digital asset aside from Bitcoin is a security.

Then my question is: What exactly is a security? In the US, the Securities Act of 1933 defines a security as any investment contract, note, stock, or any other type of investment in a common enterprise with the expectation of profits solely from the efforts of others. In simpler terms, it means an asset representing an ownership interest or a right to receive future profits or cash flows from a third party.

Suppose we consider Gensler’s statement that everything other than Bitcoin is a security. In that case, it implies that most digital assets such as Ethereum, XRP, and other cryptocurrencies would be considered securities under US law. This means that they would be subject to SEC regulations and oversight. It’s worth noting that this is not a new position for the SEC. For years, the SEC has warned cryptocurrency companies that their tokens could be classified as securities if they meet certain criteria.

The implications of this classification are significant. If a digital asset is classified as a security, the issuer must comply with SEC regulations, including registration and disclosure requirements. It would also have to follow strict trading, reporting, and investor protection rules. Additionally, investors would be protected under federal securities laws, which could increase their confidence in the digital asset market. However, it could also lead to additional costs and regulatory burdens for the companies issuing digital assets.

My opinion on this matter is that while Gensler’s statement may have been perceived as a blanket statement, the SEC’s approach to regulating cryptocurrencies is nuanced and fact-specific. The SEC has been clear that it will evaluate each token on a case-by-case basis to determine whether it meets the legal definition of a security. In other words, just because a digital asset is not Bitcoin does not automatically mean it’s a security.

Furthermore, regulatory oversight is necessary for the cryptocurrency market to mature and gain mainstream adoption. The lack of clear regulations has been a major roadblock for institutional investors, who are hesitant to invest in a market perceived as unregulated and risky. Clear regulations would also protect retail investors who may not have the knowledge or resources to navigate the complex world of cryptocurrencies.

To conclude, while Gensler’s statement that “everything other than Bitcoin” is a security may have caused some alarm in the cryptocurrency community, we believe that it’s important to view it in the context of the SEC’s broader approach to regulating digital assets. The SEC’s focus on investor protection and market integrity is crucial for the long-term success of the cryptocurrency market.

As the market continues to evolve, we expect that the SEC’s approach will continue to evolve, and we look forward to seeing how it develops. Meanwhile, I hope SEC can be more precise and take a more responsible stance when putting statements out in the market.

 

Source: https://cryptoslate.com/sec-chair-gensler-confirms-everything-other-than-bitcoin-is-a-security-implications-and-analysis/

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Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

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27 stats about NFTs in 2022 – who are the big winners

27 stats about NFTs in 2022 – who are the big winners

“Web 3.0 brings endless opportunities to many people, changes lives in Kenya, removes barriers in India and empowers developers in China to service global audiences during the COVID lockdown period. Your gateway to Web 3.0 is just one click away. Let’s innovate.”

– Anndy Lian.

 

At the beginning of the year, when the crypto market was red hot, it was extremely tough to understand what was going on in the NFT industry.

At the beginning of the year, when the crypto market was red hot, it was extremely tough to understand what was going on in the NFT industry.

The massive influx of collections, new marketplaces, and easy money in the space created the perfect mix of incentives for fraudulent activity. As we know, I published an article in October about NFT wash trading, several “OpenSea killers” were built entirely on fake activity, and not everything was as it seemed when you looked at NFT collection leaderboards. As the market crashed, so did activity across the board (both fake and organic).

But not all was negative. Several highly innovative NFT collections broke the mold of zany PFP images and proved a market for digital, non-fungible art existed.

While there was a proliferation of small collections and grassroots community-building in some corners of the industry (e.g., Solana and Magic Eden), the year also saw consolidation with the birth of the first NFT megacorp in Yuga Labs.

Instead of telling you what to think about 2022 and where the NFT world is heading in 2023, this article has the essential stats from last year so you can create your own analysis.

9 Stats about the NFT Industry

1. Total sales of NFTs in 2022 was $55.5B

This is up 175from $20.2B in 2021. When you compare 2020 to 2022 total sales, it is 390X more.

2. The market capitalization of the NFT industry peaked on April 4th at $41.5B

Market capitalization is calculated as the sum of each NFT valued at the greater of its last traded price and the floor price of the collection, respectively. Suspected wash trades have been filtered out.

2022 Market Cap & Trading Volume
2022 Market Cap & Trading Volume

3. Roughly 85K NFT collections were launched last year

In 2021, there were around 14.5K collections, while the number nearly reached 99K by the end of 2022. Notice that Opensea remains the leader in both years.

Total Number of Market Collections 2021
Total Number of Market Collections 2021
Total Number of Market Collections 2022
Total Number of Market Collections 2022 / Reference: Total Number of Market Collections 2021 vs Total Number of Market Collections 2022

4. About 7,700 collections had trading volume over $100K

Do note that the majority of this activity did not come from a legitimate, organic interest in the project based on the date collected.

2022 Top Collections
2022 Top Collections / Reference: Top Collections 2022

5. Only 2,623 collections had more than 1000 unique buyers

As with all stats in the NFT industry, this one should be taken with a grain of salt due to the significant amount of wash trading, especially during the year’s first half.

Top Collections 2022
Top Collections 2022

Reference: Top Collections 2022

6. NFT trading volume reached its 2022 peak in January, with $17.4B in value

This was more than a 4x jump from the previous month (December 2021). This was also the month when Google searches for the keyword “NFT” reached their all-time high.

NFT Trading Value
NFT Trading Value

Reference: Trading Value (V)

7. The biggest gap between the number of sellers and buyers was in January, with about 200K more sellers than there were buyers.

Yet January was also the hottest month for NFT prices for most major collections, indicating that using these metrics as an analog for supply and demand has flaws.

NFT Buyers vs. Sellers
NFT Buyers vs. Sellers

Reference: NFT Buyers vs. Sellers

8. Last year, 46% of total NFT trading volume was likely to be caused by wash trading

There are several indicators and filters to detect suspicious activity. To identify these types of transactions, I use Footprint Analytics’ filters to separate transactions to the following formula:

  • a.) Overpriced NFT trades (10x OpenSea Average Price)
  • b.) Collections with 0% royalties (except CryptoPunks and ENS)
  • c.) An NFT bought more than a normal amount of times in a day (currently filtered for more than 3+)
  • d.) An NFT bought by the same buyer address in a short period (currently filtered for 120 minutes)
NFT Volume by Chain
NFT Volume by Chain / Reference: NFT Volume by Chain (With Wash Trading Filtered) vs. NFT Volume By Chain

6 Stats about NFT Collections

9. The collection with the largest market cap by the end of the year was CryptoPunks at $1.1B

Crypto Punks, launched by Larva Labs in 2017, was the first NFT collection to become a household name and have the highest floor price in the industry. Yuga Labs acquired the IP of the collection in March 2022.

Reference: 2022: Top Collections by Market Cap

10. Trading volume of major collections in the Yugaverse—Yuga Labs’ portfolio of products—was $3.1B

This sum includes Bored Ape Yacht Club, Mutant Ape Yacht Club, Bored Ape Kennel Club, Otherside, and CryptoPunks. It excludes Meebits, which had more trading volume than all of these combined,

Reference: Yuga Labs (Trading Volume in 2022)

11. Yuga Labs’ portfolio accounts for about 20% of the total market cap of the entire NFT industry

This sum includes Bored Ape Yacht Club, Mutant Ape Yacht Club, Bored Ape Kennel Club, Otherside, CryptoPunks and Meebits.

12. Without any wash trade filtering, Terraforms by Mathcastles had an astounding $12B in trading volume, more than any other collection, across 11,341 transactions

However, 99.8% of the volume and 46.3% of transactions were detected as wash trading.

Reference: NFT – Collections

13. When filtering out wash trading, CryptoPunks had the highest volume ($2.9B) followed by Bored Ape Yacht Club ($2.3B)

Reference: 2022: Top Collections by volume

14. ArtBlocks Curated was the 4th most traded collection by volume and amassed a market cap $325M

ArtBlocks demonstrated that there is a market for high-end artistic NFTs—it stands out among Yuga PFP projects, and metaverse land NFTs at the top of the rankings

15. There were 7 major collections whose volume was over 95% wash trading

For this stat, “major” means having over $1M in real trading volume. Terraforms by Mathcastles, More Loot, dotdotdots, Dreadfulz, Audioglyphs, CryptoPhunksV2, and Meebits.

6 Stats about Chains and Markets for NFT Projects

16. Ethereum had 95% percent of volume, 47% of transactions, and 71% of protocols

These figures are almost the same as in 2021. Based on the data, Ethereum is still the most widely used for NFT.

Reference: 2022 Market Share of Transactions by Chain and 2022 Market Share of Trading Volume by Chain and Yearly Number of NFT Protocols by Chain

17. Solana went from having no NFT protocols in 2021 to 5,335 in 2022

Solana is ranked third globally at the point of writing.

Another thing to note is that Ethereum grew from 420 in 2019 to 55,144 in 2022.

Yearly Number of NFT Protocols by Chain
Yearly Number of NFT Protocols by Chain / Reference: Yearly Number of NFT Protocols by Chain

18. OpenSea hosted 53% of all total collections

OpenSea remained the marketplace of choice for Ethereum and Polygon. However, Magic Eden capitalized on its Solana first-mover advantage to be the marketplace of choice for collections on this chain (OpenSea started listing them in April.) Note: a collection can list on multiple marketplaces.

Reference: 2022: Number of Marketplace Collections by Chain

19. Solana had more active users in October, with 411K, than Ethereum, with 392K

While most of the blue-chip collections and collectors transact on OpenSea and Ethereum, Solana built up a sizable community of NFT enthusiasts in 2022. Solana’s active users hovered between 20-45% of the total market share—October was the only month it overtook Ethereum for this metric

Reference: Chain Monthly Active User

20. OpenSea had 96,459 unique wallets make a transaction on the protocol on Feb. 2

This is more transactions than any other marketplace on any other day.

Reference: 2022 Marketplace Daily Active User

21. Over $903M in platform fees were generated on OpenSea, going to both the marketplace and creators

This made OpenSea the most profitable marketplace in terms of fees generated from trading (which went to the platform and are disbursed to creators.)

Reference: Top Marketplaces

6 Stats about NFT Investment & Fundraising

22. The NFT industry received a total of $2.98B in fundraising in 2022

The highest was in January 2022 at $964M. The lowest is in December at $29.4M.

NFT Investment Amount in 2022
NFT Investment Amount in 2022 / Reference: NFT investment Amount in 2022

23. Animoca Brands closed the largest round of the year, $358M led by Liberty City Ventures

Animoca has said it will use the funding for strategic acquisitions and investments, develop its games and metaverse products, and acquire licenses for popular intellectual properties.

Reference: 2022 NFT Fundraising Details

24. There were 1,992 total fundraising rounds in 2022, 756 more than in 2021

Reference: Investment by Category in 2022

25. While NFT-related projects were the most popular category among VCs by the number of rounds, they were the 2nd-least popular in 2022

In 2022, general Web3 projects closed the most rounds (711), followed by DeFi (362), infrastructure (331), NFTs (326), and, finally, CeFi (257).

NFT Investment by Category in 2022
NFT Investment by Category in 2022 / Reference: Investment by Category in 2022

26. Seed rounds made up 81% of total NFT funding rounds

Reference: NFTs Funding Rounds

27. The 2 largest rounds for pure NFT projects went to OpenSea ($300M) and Dapper Labs ($250M)

The OpenSea round was one of only 5 Series C or D rounds in 2022. Dapper Labs is the studio behind the NBA Top Shot collection.

Key Takeaways

As we can see, Web 3.0 is proliferating. NFT is undoubtedly part of the whole Web 3.0 ecosystem. In the Web 3.0 ecosystem, NFTs are often used to facilitate the buying and selling of unique digital assets on decentralized platforms. These platforms use smart contracts to enable transactions without the need for intermediaries. They can facilitate the buying and selling of NFTs and allow NFT holders to earn passive income by lending out their NFTs. There are many use cases to showcase.

Web 3.0 will continue to draw more investment in 2023 based on some of the deal flows I see in the market. OKX Ventures and GSRV co-lead a $2 Million seed round for a Web 3.0 decentralized Identity platform. Binance Labs launched a $500M fund to support promising Web 3.0 projects and start-up firms with great potential earlier this year. Du Jun, the co-founder of cryptocurrency exchange Huobi Global, runs ABCDE Capital, a $400M Web 3.0 venture capital fund is dedicated to investing in web3 builders.

Apart from the crypto firms-led firms, it’s also true that traditional investment companies are beginning to take notice of the Web 3.0 ecosystem and are starting to invest in companies and projects that are working on decentralized technologies, such as blockchain and non-fungible tokens (NFTs).

There are several reasons why traditional investment companies might be interested in investing in web3 technologies. One reason is that the Web 3.0 ecosystem is still in its early stages and has much growth potential. Decentralized technologies have the potential to revolutionize many different industries, from finance and real estate to art and collectibles.

Another reason is that the Web 3.0 ecosystem is relatively uncorrelated with traditional financial markets, which can offer diversification benefits for investors. This can be especially appealing in times of economic uncertainty, when traditional financial markets may be more volatile.

Ending with a quote:

“Web 3.0 brings endless opportunities to many people, changes lives in Kenya, removes barriers in India and empowers developers in China to service global audiences during the COVID lockdown period. Your gateway to Web 3.0 is just one click away. Let’s innovate.” – Anndy Lian.

 

 

Source: https://cryptoslate.com/27-stats-about-nfts-in-2022-who-are-the-big-winners/

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

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How many cronos tokens are there? CRO token circulation analysis

How many cronos tokens are there? CRO token circulation analysis

Crypto.com is one of the biggest crypto exchanges out there, however, recent negative sentiment and the collapse of the FTX crypto exchange have sent its native token, cronos (CRO), into a downwards spiral, forcing it to lose over 90% of its value from $0.8992 in November 2021 to $0.0698 a year later.

What are the latest token analytics suggesting, and how many cronos tokens are there?

What is CRO?

CRO is the native cryptocurrency of the Crypto.com chain and the Cronos EVM Chain. It was formerly known as the Crypto.org Coin before being renamed to CRO.

Crypto.com is a public, open-source and permissionless blockchain that aims to help drive the mass adoption of blockchain technology through decentralised finance (DeFi), payments and non-fungible tokens (NFTs). The platform has named itself as the “next generation public blockchain”.

The platform was co-founded in 2016 by Kris Marszalek, Rafael Melo, Bobby Bao and Gary Or and is now operated as a desktop and mobile application.

Crypto.com's key features

The Cronos EVM Chain is the first ever Ethereum-compatible blockchain that was built on Cosmos SDK technology. It is an open source, permissionless Layer 1 chain that aims to scale the DeFi, GameFi and overall Web3 communities by letting builders instantly port apps and crypto assets from other chains while benefiting from low transaction fees, high throughput and fast finality.

The CRO token powers the ecosystem and is used for staking, which grants users a number of rewards and helps maintain the platform’s security and decentralisation. The cronos cryptocurrency is also used to settle transaction fees on the Crypto.org Chain.

Latest CRO market news

2022 has not been the best year for CRO. The token has fallen by more than 87% from its all-time high of $0.8992 on 24 November 2021 to $0.1093 on 17 June 2022. The dip in the CRO price was heightened as Crypto.com announced on 1 May 2022 that it would be slashing staking rewards for all tiers of its VISA cards “to ensure long-term sustainability”, effective as of 1 June 2022.

CRO price chart

Between mid-July 2022 and end of September 2022, Crypto.com has received a number of licence updates worldwide, including Italy, Cyprus, South Korea, Australia, Canada, the UK and France. In addition, on 12 October 2022 the firm said that Paris was established as its European Regional Headquarters and invested €150m (around $155m, as of 18 November) in France to support market operations.

Between 25 October 2022 and 28 October 2022, Crypto.com had signed three MOUs: one with the game software developing studio ACT Games; one with the city of Busan in South Korea to advance the blockchain industry; and one more with global content studio A Story to develop NFT collaborations.

However, amid all the positive news, Crypto.com has also been caught in an array of negative news. An article published on 6 October 2022 by Ad Age tech claimed that the platform had cut off deals with a number of big sports organisations, including the Los Angeles’ Angels City Football Club, the 2022 FIFA World Cup in Qatar and the online sports tournament host Twitch Rivals. The article cited unanimous former and current Crypto.com employees.

In addition, according to a series of Tweets by the article’s journalist Asa Hiken, between “June and August, 30-40% of Crypto[dot]com’s entire workforce left the company, per former and current employees. That’s 2,000+ departures — the vast majority of which were layoffs.”

The company did not address the reports.

Now, let’s take a closer look at how many cronos tokens there are now.

How many cronos tokens are there?

So, let’s have a look at how many cronos tokens are available in circulation as of 18 November 2022.

According to data provided by CoinMarketCap, the maximum supply of the cronos tokens is 30.2 billion, meaning that once the total number of cronos tokens in circulation reaches that value, new tokens can no longer be mined. The current circulating supply of the CRO coin surpassed 25 billion.

However, this was not always the case for the cryptocurrency.

When the cryptocurrency was launched in 2018, its maximum supply was fixed at 100 billion coins. But, in order for the Crypto.com network to become fully decentralised at Mainnet Launch, Crypto.com decided to burn 70 billion CRO tokens in what it called “the largest token burn in history”. This was announced by the platform on 22 February 2021.

The platform released a schedule which shows that an initial batch of 59.6 billion CRO tokens was burned on 22 February 2021. Meanwhile, 10.4 billion coins were locked in a smart contract and would be burned every month as they get unlocked. This was aiming to increase the cryptocurrency circulating supply from 24% at the time to over 80%.

The remaining 5.9 billion CRO tokens were distributed in the following way:

  • 5 billion CRO were allocated to mainnet block rewards for Chain validators and delegators
  • 0.9 billion CRO were allocated to the development of the Chain ecosystem

Of that 70 billion burned:

  • 20 billion tokens came from the platform’s capital reserve
  • 5.5 billion coins came from the platform’s community development
  • 10.4 billion tokens came from secondary distribution and launch incentives
  • 20 billion tokens came from ecosystem grants
  • 20 billion tokens came from network long-term incentives

Who are the biggest CRO token holders?

Now that we have established how many cronos tokens are in circulation, let’s take a look at the biggest CRO token holders.

Data provided by etherscan.io showed that, as of 18 November, there were 281,902 CRO holders in total. The 10 biggest CRO holders collectively owned 92.54% of the total token supply in circulation, meanwhile the top 100 owned 95.93%.

The website noted that the top account holding the most CRO tokens in total was a Null Address owning over 77 billion coins, amounting to 77.89% of the total circulating supply. Crypto.com was also among the top CRO holders in the world, owning around 7 billion tokens or approximately 6.9% of the total supply.

Analyst thoughts

Anndy Lian, chief digital advisor at the Mongolian Productivity Organisation and author of ‘NFT: From Zero to Hero’ told Capital.com that while burning 70% of the then maximum CRO token supply was a good decision, doing so in 2021 was a “downside”.

“Personally, I would prefer them to burn and then buyback in stages of burning such a huge amount. The burn back then did make the market perceive that the remaining tokens have more value but that was short lived.”

Lian added that taking into consideration everything that has happened with the FTX crypto exchange in recent weeks, CRO holders are also getting anxious about the wellbeing of the Crypto.com platform, however, Crypto.com CEO Kris Marszalek’s live AMA session on YouTube on 14 November 2022 helped calm those worries down.

“Crypto.com is still facing potential bank run in my humble opinion. This to me is one of the biggest risks that CRO has a direct impact on.”

The bottom line

While knowing key info about the cronos tokenomics and circulating supply is important for accessing the project’s health, it shouldn’t substitute your own research. You should always conduct your own due diligence before trading, looking at the latest news, technical and fundamental analysis, and a wide range of analysts’ opinions before making any trading decision.

Keep in mind that past performance is no guarantee of future returns. And never trade or invest money that you cannot afford to lose.

 

Source: https://capital.com/how-many-cro-tokens-are-there-crypto-com-circulation-analysis

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

j j j