In the years since Tan started CoinJar, the crypto industry has drastically changed, morphing from a niche movement for tech-savvy investors to a multi-trillion dollar asset class capturing the interest of retail and institutional investors alike
“That would have been a ridiculous headline ten years ago - what’s a car company doing with Bitcoin anyway? It’s all progressed so far.”morphing from a niche movement for tech-savvy investors
Expected or not, CoinJar has eschewed much of the traditional VC-fuelled startup growth trajectory, not raising any further capital after its seed round and instead opting to grow the business organically. Today the exchange has around half a million users and oversees around $1 billion in funds. Crypto markets have been in a funk since November, with some valuations slashed by as much as 60 per cent.This ideology also extends to Tan’s own engagement in the crypto industry, which is often dominated by loud voices and brash ‘maximalist’ personalities who are quick to denounce projects and companies that don’t fit within their existing ethos.
Tan says that he hopes any regulation implemented in Australia is effective in its goal of protecting consumers but says lawmakers should be cognisant of the nuance of legislating the complicated crypto space to not go too far with their regulation.
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