Dear Brian Armstrong,
I admire your selfless struggle for the future of the cryptocurrency industry and your courageous skirmish with the Security Exchange Commission. Therefore, I want to address you as the CEO of one of the largest cryptocurrency exchanges in the US and around the world.
I want to draw your attention to a number of issues in the cryptocurrency industry that require your immediate attention. Given the accelerating tide I described earlier of involving various companies in the currently tax-exempt cryptocurrency industry, in my opinion, you should immediately pay attention to the process of listing new projects. The status quo with 99.9% listing of fake projects has already led to a partial loss of crypto’s reputation.
Due to the loss of user confidence, with further loss of confidence, the entire industry will be in danger of a complete shutdown. Also given the uncontrolled transition of existing companies to tax-free financing of projects in the near future, people and budgets of many countries of the world will feel the loss of taxes and income that have fallen. This will lead to a political decision to close the industry as such, which will negatively affect both your business and the funds and fortunes of your millions of investors.
Given the complexity of the situation, we have developed a step-by-step plan to stabilize the situation and increase both user and business confidence. The plan includes separating private investments and investments of legal entities, investing them in projects that will allow them not to lose and increase the financial resources of private and corporate investors. All information is detailed on our websites.