Crypto failure?

[Lämmchen]

How many crypto currencies have failed? Was the CEO a big reason for the failure?

I read yesterday about a CEO (I can't remember which crypto he started) is being investigated. I wonder if it's true he did something wrong or if his competitors are accusing him of wrong so his crypto fails?

 

[Grant]

The problem is, that so many of these companies come in unchecked purporting to be the future of crypto or something, and yet after the first opening or whatever, it falls and people are out of their money except for the people who started the company/currency.

I won't invest into any type of crypto until it's well established and is set to be around for a long time. Like Bitcoin for example, if they made a new crypto in line with Bitcoin, I could see it working. But, there are so many new crypto startups, that it's hard to really see what's legit and isn't.

 

[Riberet19]

You are referring to Chanpeng Zhao the CEO of Binance, is being investigated and has been sued by the SEC, that is, the regulatory body of the markets in the United States, keep in mind that Binance is the largest exchange in the crypto world, and if it fails or ceases its operation, the consequences could be quite severe and surely the market will take a long time to recover (if it does)

 

[Heatman]

Personally, I believe that the cryptocurrency SHIB have already failed because it's not looking like something that's going to meet the potential investors thought it was going to have. Also Dogecoin doesn't look good but there's hope for it since Elon Musk is still around.

 

[Mostee501]

The CEO's role can have an impact on the success or failure of a cryptocurrency project, it is not always the sole or primary reason for failure. Cryptocurrency failures can be attributed to a variety of factors, such as poor project management, lack of technological innovation, inadequate security measures, failure to meet regulatory requirements, market manipulation, or simply a lack of user adoption.

 

[Heatman]

I won't invest into any type of crypto until it's well established and is set to be around for a long time. Like Bitcoin for example, if they made a new crypto in line with Bitcoin, I could see it working. But, there are so many new crypto startups, that it's hard to really see what's legit and isn't.

This is the reason why all those cryptocurrencies that are regarded as shitcoin will never be something that I will be interested in investing even $1 in because I know that there is no chance for it to appreciate tomorrow looking at how the cryptocurrency network have been setup.

 

[Nomad]

Two years after Bitcoin was launched, a coin forked from Bitcoin and it was called namecoin. namecoin is one of the failed crypto projects. Despite being the first altcoin, it never went up, the current price is just $1.74.

 

[Heatman]

A friend of mine made a very big mistake of investing in Namecoin when it was launched because everyone believed that it was set up to rival bitcoin but unfortunately it's never made any progress the same way bitcoin did and those who invested in it ended up not making profits from it.

 

[Skysaint]

There was a particular cryptocurrency that crashed so much and I guess I have forgotten the name of the coin. There were rumors that the CEO got questioned and that was it as up till now the coin hasn't made a come back.

 

[Heatman]

All cryptocurrency scam projects have equally all being a failure. Take for instance, OneCoin which is among the biggest cryptocurrency pyramid scheme we have seen in years. Investors in OneCoin lost over $4 billion in the cryptocurrency pyramid scheme. The coin have failed completely. Also, we can agree that TerraUSD (UST) have failed too after its collapse.