(1of5) The #Crypto industry needs to be better and do better!
I took over BitReserve as #CEO, I relaunched it in 2015 as @UpholdInc and redesigned the entire model to:
100%+ reserved.
No lending/leverage.
24/7 Real-time transparency.
Changing the then status-quo
I took over BitReserve as #CEO, I relaunched it in 2015 as @UpholdInc and redesigned the entire model to:
100%+ reserved.
No lending/leverage.
24/7 Real-time transparency.
Changing the then status-quo
(2of5) Whilst I remain a shareholder in @UpholdInc, I’m no longer involved with the firm having stepped off its Board at the end of 2020. However, it is a source of great pride that #Uphold are still true to that original ethos to this day.
(3of5) that said, at the time my approach was not without criticism (from inside / outside the firm). I focused #Uphold on the “boring” aspects of #crypto. I came from the “boring” wholesale / service side of #Banking, not the Wall St / City trader high risk, leveraged side
(4of5) The vast majority of the worst problems in #crypto are caused by ex-Wall St / City trader types, or clever libertarian kids with little real understanding of financial markets thinking digital asset behave like fiat currencies
(5of5) Sometimes "boring" is better. @UpholdInc - and others who power radical transparency – is exactly what the industry needs now if it is to counter the massive betrayal of trust, and the painful economic impacts forced on ordinary people - who are the real losers here!
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