Former FTX US Boss Talks Token Issuance and Insider Knowledge
Brett Harrison – former CEO of FTX US – spoke with his followers over the weekend about the tendency of crypto companies to resort to token issuance for raising funds. He was also questioned regarding his insider knowledge about FTX US and its collapse. Why Not Go Public? In a tweet on Sunday, Harrison questioned why more crypto companies don’t simply go public early in their lifecycle the way Amazon did. “Relatedly, how do companies reconcile the desire to stay private for long periods of time while rushing into token issuance?” he asked. Brett Harrison. Source: The Information. Token issuance is a common method used by crypto startups to fund the development of a given CeFi or DeFi project. Such tokens may confer benefits on their holders such as governance rights or trading fee revenue from the service’s users. Alternatively, these assets may operate as the internal currency within a new blockchain system, like ETH for Ethereum, or ADA for Cardano. KYC & Au...