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The Crypto Company CEO Releases Statement Regarding Recent Events in Cryptocurrency Industry
The Crypto Company CEO Releases Statement Regarding Recent Events in Cryptocurrency Industry.
About this update from The Crypto Company
[{"type":"text","content":"\n Summary: Blockchain is the underlying technology of cryptocurrencies but they are not synonymousThe overall blockchain industry is not necessarily tied to Cryptocurrency volatilityDevelopment and investment in the blockchain industry remains strongNews of what is happening with FTX exchange does not directly affect TCC as TCC does not hold cryptocurrencies MALIBU, Calif., Nov. 11, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire – The Crypto Company (OTC: CRCW) (“TCC” or the “Company”), an early mover in the blockchain and cryptocurrency space providing the educational foundation for the growth of the industry, released today a statement from its CEO Ron Levy regarding recent events in the cryptocurrency industry. The statement reads as follows: Due to the recent events in the world of cryptocurrency, I thought it would be pertinent to make a couple of distinctions, specifically related to the volatility of cryptocurrency and their limited effect on the blockchain industry as a whole - an industry in which TCC operates. First, I would like to reiterate that while blockchain is the underlying technology in which cryptocurrencies operate, the category of blockchain is much broader than just cryptocurrency and is not just based on cryptocurrencies, or the value of them. Blockchain has its own unique qualities (programmable trust) that offer use cases in many, many industries that in no way hedge or depend on the values of traded cryptocurrencies. While the recent events of the crypto exchange FTX are creating much turbulence for cryptocurrencies, the Blockchain world continues to build and we believe that interest remains extremely strong. For instance, the demand for transparency, which blockchain represents, should increase given recent events. Second, I want to clarify that the business of The Crypto Company is not based on the value of cryptocurrencies, but rather on the delivery of education and consulting services to support development of the Blockchain industry to individuals, government agencies and enterprise businesses. As The Crypto Company recently announced, we have sold the majority of our Bitcoin mining rigs back to the parties that we originally purchased them from earlier this year. Our company does not hold any cryptocurrencies on the books, and our main line of business remains providin...