Daniele Servadei, CEO and co-founder of Sellix, says:
“I think the main issue with crypto companies is that they rely on their owners. FTX had an amazing opportunity. It literally only had to rely on earning and making billions from trading fees.
“What crypto firms should avoid is actually simple: stop using their customers’ money to trade in leverage and instead have a proper profitable business model. Binance has been doing this since the day it launched.”
Mark Basa, managing director of XWECAN Crypto, says:
“Truly, they need to be decentralized. They can’t build blockchains and then centralized companies on top, with corporate finance people who have zero crypto experience and are in it to get rich. If the team of a project you love and buy the token of is 90% corporate with no crypto background, you might as well throw your money down the toilet.
“If companies want to survive, they must do almost everything with the community at heart and be as transparent as possible. If there are no updates, don’t give any, but let the team know you are working.
“Stop focusing on the token price. It will drive you insane. Aim for partner and ecosystem growth as opposed to how much the token is worth. If you reach your milestones, the token will go up on its own.”