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Kraken’s new Managing Director for North America, Guy Hirsch, talks about his crypto journey

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Kraken’s new Managing Director for North America, Guy Hirsch, talks about his crypto journey

Guy Hirsch is Kraken’s new Managing Director for North America and he joined the Kraken team this month after building crypto businesses at Samsung and eToro. He’s an experienced operator in the crypto space and has some forward-looking ideas about the future of the industry.

Hirsch will oversee Kraken’s businesses across North America and will be responsible for growth and expansion. He has been in crypto since 2010 and is excited to join the team to drive the industry into the next decade.

We sat down with Hirsch to talk about his experience and crypto philosophy.

Kraken: Why don’t we just go through a little bit of your background. How did you become interested in crypto?

Hirsch: I started in 2010. That’s when things started to get more active around Bitcoin. I was in San Francisco and I was very much involved in startups and startup accelerators. I had my own startup at the time, a retail analytics platform called Saygent, but I started hearing the chatter about bitcoin.

We had a few regular dinners with people from Silicon Valley and I was sitting with Vinny Lingham, the founder of Civic. We spent three hours talking about bitcoin. He was urging me to put at least $10,000 into it and to convince my friends and family to do the same. I didn’t take his advice unfortunately, but I did get back home and downloaded a wallet and started kind of actually experimenting with it.

I was super curious and slowly I got a bit more of an understanding about the people behind crypto, meaning the cypherpunks. I understood that it was also an ideological movement to create native digital money. That is when I got fully ensconced in crypto.

Then in 2013, my startup was hired by Samsung to develop the first point of sale system for Samsung retail stores. I proposed they incorporate Bitcoin as a form of payment, perhaps for tourists who didn’t want to spend local currency. That was the first time I worked officially on something related to Bitcoin. 

In 2017, Yoni Assia, co-founder of eToro and an old friend, offered me the role of the managing director of eToro in the US. Basically the pitch was that eToro was growing dramatically and that crypto is the future. I would help accelerate that mission. That was very appealing to me. I spent five years really building a crypto business in the US. I was doing marketing, working on compliance, working on regulation. A little of everything.

Kraken came along and I think it’s very unique to find a company that advocates for a set of public values  and supports the crypto mission. 

K: What are you most excited about in crypto in 2023?

Hirsch: So I think there are a number of things. One is the institutional adoption of crypto. I think that means both on the trading side and also adoption by trad-fi shops like banks and brokers. In fact, trad-fi is starting to offer crypto exposure to their customers and they’re trading it on their own books. Even corporate treasuries are looking into allocating crypto to have a more diversified portfolio. And lastly on the institutional side, I’m particularly excited about registered investment advisors in the US becoming more educated about crypto. They’re bringing together a simple, viable, and compliant way to expose their customers into crypto. 

I’m also excited about NFTs. But when I say NFTs, it’s about how culture meets technology. NFTs are the ultimate way of marrying those things. I think we’ll see “real” NFTs with new partners who use the technology for ticketing, events, and actual physical goods. That will be the next wave of getting a billion people onboard into crypto because of affinity rather than speculation.

 

K: Last question: if you could sit down with one person, living or dead, to talk about crypto, who would it be?

Hirsch: That’s a good question. I think former treasury secretary Steven Mnuchin because I want to understand why he was so adamantly against crypto. What were the forces pressuring him to try to do all these anti-crypto moves? I thought that we had a number of people in that administration who were very pro crypto. I’m wondering why Mnuchin was so adamantly against it. I would love to spend three hours with him on that and maybe change his mind and figure out how to help current and future officials adopt crypto.


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Cryptegrity DAO (ESCROW) is Now Available for Trading on Hotbit

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Cryptegrity DAO (ESCROW) is Now Available for Trading on Hotbit

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Hotbit Exchange, a global crypto trading platform, officially listed $ESCROW (Cryptegrity DAO) on January 27, 2023. The ESCROW/USDT trading pair is now available for all users of Hotbit Exchange.

To increase trust and protect the funds of buyers and sellers, Cryptegrity DAO (ESCROW) has introduced a means to trade crypto for goods and services without fear of theft or services not rendered, providing Security via smart contract technology. Its native token $ESCROW has been listed on Hotbit Exchange at 07:00 AM UTC on January 27, 2023, to expand its global reach further and maintain a secure and reliable platform for the exchange of goods and services using crypto.

INTRODUCING CRYPTEGRITY DAO

Cryptegrity is a blockchain-based platform that aims to increase trust between buyers and sellers of goods and services. The platform utilizes smart contract technology and cryptographic techniques to ensure transactions’ integrity and funds’ security. 

Cryptegrity’s web3 platform offers transparency and peace of mind that is impossible with traditional web2 competitors. Buyer funds are locked in an audited smart contract and released to the seller only when goods are received or services are rendered. This ensures that buyers and sellers can have confidence in the security of their transactions and reduces counterparty risk.

25% of revenue is distributed to $Escrow holders in real-time through smart contract technology. This revenue sharing continues for the lifespan of the platform or until all tokens are repurchased from public circulation. The Cryptegrity platform incentivizes the community and holders to help create liquidity and earn rewards by offering $Escrow for creating $Escrow LP pairs and staking them. Additionally, the Cryptegrity DAO rewards participants for contributing and resolving issues on the platform.

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In conclusion, Cryptegrity is an innovative platform changing our thoughts about online identity verification. With its cutting-edge technology, user-friendly interface, and listing on Hotbit, this project is poised to make a big impact in the industry.  

About $ESCROW Token

The Escrow Token serves dual purposes: it distributes platform fees to Token holders via revenue sharing and functions as a governance token with voting rights in the Cryptegrity DAO. It is the native token of the Cryptegrity Platform and is built on the Bep-20 and Erc-20 standards.

ESCROW has a total supply of 100 million tokens, with the following allocation: 10% to founders, 10% to the team, 10% for marketing and development, 10% for promotions, 10% for partnerships, 10% for liquidity for future DEX and CEX, and 40% available for sale to the public.

The ESCROW token is now available for trading on Hotbit Exchange starting at 07:00 AM UTC on January 27, 2023. Investors can easily buy and sell the token in relation to the Cryptegrity Project. The listing on Hotbit Exchange will aid in expanding the project’s reach and increasing market attention.

ABOUT HOTBIT

Founded in 2018 and holding Estonian MTR license, American MSB license, Australian AUSTRAC license, and Canadian MSB license, Hotbit cryptocurrency exchange is known as a leading trading platform that continues to develop and integrate various forms of businesses such as spot trading, financial derivatives, cryptocurrency investment and DAPP into one platform. Hotbit has already gained over 8 Million registered users from more than 210 countries and regions. Based on its globalized and unified strategies, Hotbit continues to focus on world’s emerging markets, such as Russia, Turkey and Southeast Asia markets and was ranked one of the top 3 most welcomed exchanges by Russian media in 2019. Hotbit is constantly introducing and listing high-quality crypto projects so its users can directly trade, manage, track, and analyze cryptocurrencies, making the entire experience easier for ordinary people.

Start Trading Now: Hotbit.io

Telegram: https://t.me/Hotbit_English 

Twitter: https://twitter.com/Hotbit_news


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Centralized Exchange Tokens Post Solid Gains in January Despite SEC Interest; Bitcoin, Ether, in the Red.

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Centralized Exchange Tokens Post Solid Gains in January Despite SEC Interest; Bitcoin, Ether, in the Red.


“If demand for trading on the FTX platform increased, demand for the FTT token could increase, such that any price increase in FTT would benefit holders of FTT equally and in direct proportion to their FTT holdings,” the SEC wrote in its complaint. “The large allocation of tokens to FTX incentivized the FTX management team to take steps to attract more users onto the trading platform and, therefore, increase demand for, and increase the trading price of, the FTT token.”


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Australian Government Flagged FTX Concerns Eight Months Before Downfall

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Australian Government Flagged FTX Concerns Eight Months Before Downfall

A new report shows that the fallen crypto exchange FTX had already caused concerns with the Australian regulator months before its collapse. According to a document on The Guardian Australia’s website, the ASIC (Australian Securities and Investments Commission) started investigating the firm’s local operation last March.

An article in the Australian Financial Review prompted the concerns. The article outlined the now-bankrupt exchange’s plans to launch in Australia within a few weeks. FTX caused more concerns when rumors that it would allow users to purchase cryptocurrencies with margin loans of 30 times their investment started making rounds.

In early April 2022, several Australian regulators held meetings with FTX leadership, and at that time, the exchange promised to operate under the stipulated while cautioning its customers about potential scams. However, the regulators somehow remained concerned about the FTX business.

Report Shows ASIC Issued Several Notices to FTX Australia Within a Few Months

In a span of four months, the ASIC had issued about four notices to FTX’s Australian subsidiary, requesting more information about its business operations. However, to avoid interfering with its law enforcement activities, ASIC did not issue the notices via a freedom of information request.

The Guardian Australia’s briefing document released on November 12, 2022, a day after FTX had filed for bankruptcy, indicates that, indeed, the ASIC had been carrying out what’s described in the document as a ‘surveillance activity’ on the fallen exchange since last March.

The document stated that since March 2022, the Australian regulator has been requesting information from FTX Australia regarding its financial offerings. Among the issues raised included the firm’s compliance with the ASIC’s product intervention order alongside pricing and how it registered new users.

FTX Licensing Strategy

It has been discovered that FTX Australian began its operations without ASIC’s approval because it evaded the usual licensing procedures by buying out an existing firm that had possessed an Australian Financial Services License since 2021.

Another revelation shows that IFS Markets, the company acquired by FTX, had also gotten the license by taking over another financial firm called Forex Financial Services a few months earlier.


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