Cryptocurrencies. Winter.
Aething Inc.

Cryptocurrencies. Winter.
Children who play with money. After reading our preview articles, someone may get the wrong impression that these are children who play with money. This is partly true. Just these kids of all ages.

Have you ever worked in construction? There, each person knows the other by name. I am sure that it is the same in any sphere of human activity, including financial. And all the exchanges communicate, they know each other very well, sometimes even pretending to be friends.

Any of us who do business visit our bank and know our banker by sight. Crypto exchanges, in one way or another, communicate with a wide range of companies, from SEC to tax or other numerous commercial and government agencies.

When I applied for financing for business in investment funds, I understood that the answer would not be given to me immediately, it could take many months since they have many such requests. But after two and a half years, I was convinced no one would answer me. Nobody paid any attention to my appeal.

They saw it, they read it. But they made a decision not based on what I propose, but based on some other motives. Therefore, my seven-month wait for at least one word in response to my request did not surprise me. But understanding why this is happening, I realized that many mechanisms are broken, that the business financing mechanism is broken.

After all, the market for entering the market of new projects, monopolized by Binance, has led to the fact that the wait lasts for years and does not bring any answer. Can anyone be blamed for buying the CoinMarketCap? Of course not, but instead they had to build the main business process that this company performed.

But they did not organize anything in return, but simply destroyed this part of their own business and took up more important things, in their opinion. As I predicted in the article Crypto Past Present Future, many banks today are completely into crypto.

But I want to ask everyone who reads this article, seeing how CoinMarketCap is being destroyed, seeing how the process of financing small businesses has practically stopped, where were those who should be next to these young companies?

Where were those who launched crypto projects among the very first many years ago? Those who should control the exchanges should also advise based on their many years of experience. After all, personal communication is always much more effective and more convincing than some articles on the Internet that no one reads today and does not believe anything.

Perhaps this disbelief comes from the fact that we are being lied to. Or the fact that in the official support chat of crypto exchanges, which contain only a couple of hundred customer requests, scammers openly offer their services and no one pays attention to it? I don't know. I am not a young man with age-related diseases and many years of lack of business funding, I have very few opportunities.

I have no answers to these questions, I sometimes read Twitter and I am thousands of miles away from what is happening. But after all, next to these already quite adult children some have many decades of experience and should have told them what is most important in their business.

Next to them are thousands of people from the inspectors and regulators who can save themselves a lot of free time if they advise these guys, and not be loaded with work, as after the failure of the FTX exchange.

Did these people give advice? Did those to whom they were addressed hear this advice? And the most important question, did all this bring any result? I can only answer the last question - no, for the third year, I have been waiting for at least one response from appeals to funds, banks, and the crypto community.

June 27 / 2023

Text author: Ihar Kul


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