Title: Crypto exchange gets listed on stock exchange...before they've launched!? Post by: CryptoPressAssociation on February 09, 2019, 12:42:51 AM Quote Cryptocurrency exchange gets listed on stock exchange - before they even officially launch. (selected snippet from full article ) ...while today's news did indeed end with the company having a stock exchange listing, they took a creative (but fairly common) shortcut - they bought a company that already had a listing, merged with it, then renamed it. In this case it was a mining company, and not crypto mining - minerals. That company was called UC Resources and hasn't been active since 2015. The newly formed company 'Voyager Digital Ltd' begins trading this Monday on TSX Venture Exchange, a subsidy operated by the Toronto Stock Exchange with a market cap of approximately $40 billion. There's actually some advantages here for potential users, specifically on the issue of trust. Now a "publicly traded company" Voyager will face increased levels of oversight that others currently don't. Full article: http://www.globalcryptopress.com/2019/02/cryptocurrency-exchange-gets-listed-on.html What's everyone make of this? An increased level of scrutiny does come with being a publicly traded company.... Title: Re: Crypto exchange gets listed on stock exchange...before they've launched!? Post by: c_atlas on February 09, 2019, 01:13:59 AM I personally don't think the fact that they're public matters. If anything it's just a false illusion of security since we "assume" they'll be regulated (in some ways they will be but not in others). The reality is they can still be hacked/lose funds if they're not following crypto exchange industry standards for securing funds. I don't see how being publicly traded will change how they handle that.
The biggest issue I have is that I doubt the relevant shareholders will be crypto owners. This is the TSX, it's not hard to imagine the majority (and probably the larger shareholders) will be a mix of people who
Title: Re: Crypto exchange gets listed on stock exchange...before they've launched!? Post by: sunsilk on February 09, 2019, 01:53:03 AM You must put the source on where you got this news.
Source: Cryptocurrency exchange gets listed on stock exchange - before they even officially launch (http://www.globalcryptopress.com/2019/02/cryptocurrency-exchange-gets-listed-on.html) Title: Re: Crypto exchange gets listed on stock exchange...before they've launched!? Post by: CryptoPressAssociation on February 09, 2019, 06:27:05 PM You must put the source on where you got this news. Source: Cryptocurrency exchange gets listed on stock exchange - before they even officially launch (http://www.globalcryptopress.com/2019/02/cryptocurrency-exchange-gets-listed-on.html) Thanks for pointing that out! LOL it’s even worse because I work for the site (but I’m not the author of this article). |