“Mistakes are a fact of life. It is the response to error that counts.”
- Nikki Giovanni
Like any other industry, we’ve seen our fair share of mistakes made in the digital asset space. Mistakes are indeed a fact of life, but it’s the rapid and effective response which sets crypto apart from any other emerging tech industry. The demand for greater transparency and accountability is loud and clear, and organizations of all stripes are answering the call.
A year ago, few talked about digital asset segregation. Now, it’s one of the first things customers ask about. Crypto’s collective New Year’s resolution is all about improving security and market structure, and as always, we’re doing our part to make this a reality for everyone involved.
The downfall of FTX et al. shed light on the lack of investor asset protection at some centralized organizations - with failure to implement basic principles and controls. As a qualified custodian, we helped the broader community understand what really happened, how the events were made possible, and ways companies like ours can help prevent such incidents from happening again. Chairman of the Advisory Board Colin Brooks wrote an opinion piece to explain why the only way forward for centralized exchanges is to work closely with qualified custodians.
For those that prefer to listen, Colin also spoke with Joel Flynn from The Daily Forkast on the same topic. In case you missed it, here’s the clip dissecting the practices custodians undertake to protect investors, and how regulation may be shaped in the near-future.
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While things may seem dark at the moment, our Head of Markets Dario Capodici sees a way forward: through the smoke. It’s one of the greatest lessons taken from the Nascar racing movie Days of Thunder, and certainly one which applies to our world today.
If you’re curious about what crypto may have in common with a high intensity, spectacle-driven industry like Nascar racing, read Dario’s prose below.
Our company has been growing rapidly, and so has our presence across the digital asset ecosystem. We had the honor of being featured in The Block’s latest report which details Hex Trust’s track record to date, and our business growth strategy for the years ahead.
Hex Trust was also chosen by Fintech News Hong Kong as one of the top 5 Web3 startups in the region, as a company at the forefront of cultivating the growth of digital assets to transform the fintech space in the international cryptocurrency hub.
We are always building to expand our clients’ access to the broader digital asset ecosystem. Hex Trust recently launched delegation support for Flare Network as a Flare Time Series Oracle (FTSO), allowing our institutional investors to participate in delegating and staking their tokens.
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It’s only February, but it seems things are starting to defrost. With the broader crypto market seeing some upward movement the past month, it seems the industry is starting 2023 on a more positive note.
In the meantime, we’ll be here to make sure crypto’s New Year’s resolutions are kept as promised.
