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AMA Summary May 6th, 2022

06.05.2022

We had some great questions and important topics covered this week! Here are the highlights from Kevin’s AMA on Friday, May 6th, 2022.

Kraken clients versus Coinmetro clients?

General clientele can be similar, however each exchange has their specific USPs, values and so on. We attract different clientele than Coinbase or Kraken who have different USPs.

 

Final capitulation or just another leg down?

FED raised interest rates, inflation rates are very high. Usually people put money in the bank to save, however with the high inflation rates and low interest rates on savings, people are trying to understand if cryptocurrencies make sense to invest in right now, as historically they have been going up and beat inflation.

As far as global economics, it is going to be a shitshow. We will have a recession that we have never seen before. Nothing really that modern government can do about it.

But now we have crypto. We are going to be surprised about the effects of crypto, it is going to be volatile. It is all about risk-management. Be patient for the price you want, be ready to buy at lower points if it goes down, but also be prepared to buy at higher prices if it goes up.

 

Binance got a nod from French regulators.

There is Binance US, Binance UK and now Binance FR. Binance subsidiaries got a nod from the regulators, not Binance itself.

 

When debit cards?

Shooting for Q3 and Q4 in regards of IBANs and debit cards.

 

KDA bonding

The current program ends in July, we don’t know yet what will happen afterwards.

 

Status on private funding round?

Talking about roughly 3% of the company. Money has been raised. Usually when you raise money, you raise money to get to the next funding round. We want to be able to scale-up the teams, go after regulations, fix issues that exist that will allow us to scale. We will have an official announcement.

 

Any specific milestones or goals?

We want to improve on all our milestones, we have certain goals, but we don’t necessarily have to achieve all those specific goals. I simply want the company to do better. It could mean that we are setting ourselves up to be a much larger company year after year.

 

Why does Coinmetro grow so slowly in comparison to FTX?

We are trying to do things the right way as opposed to hiring everybody and then being slammed on the fingers and fix the problems from there. FTX was already arbitraging before the CEO started the company and having a big network definitely helped. They did similar things that Binance did and that is a common approach in a non-regulatory market.

I believe that over time, because we did things the right way, we will come out on top.

 

Confident in the next fund raise?

I am confident that we will be able to put out an amazing deck backed by our amazing team.

 

Thoughts on Elon Musk buying Twitter?

Elon Musk buying Twitter, it’s interesting but can be a bit scary.


Thanks for hanging out with us today! We’ll see you next week. Be sure to subscribe to the official Coinmetro YouTube channel.