In a significant move in the cryptocurrency sector, Crypto.com, recognized as one of the largest exchanges in the market with an impressive $1.2 billion in daily trading volumes, has just connect to the World Economic Forum (WEF). This membership marks an important step for the Hong Kong-based exchange, strengthening its position on the global cryptocurrency scene.
WEF, a prestigious platform for global leaders in diverse fields including politics and business, already has established partnerships with prominent entities in the cryptocurrency space such as Coinbase and Ripple. Crypto.com’s inclusion in its list of contributing organizations is a testament to the exchange’s growth and growing influence.
Since launching as an initial coin offering (ICO) in 2017, Crypto.com has seen exponential growth, reaching the $4 billion mark in assets. His journey was not without its challenges. In late 2022, the company faced a Proof of Keys test, a critical time for any entity in the cryptocurrency space, especially in the context of the FTX collapse. During this period, Crypto.com experienced mass withdrawals, a scenario that tested its resilience and solidity. The company has successfully emerged from this ordeal, reaffirming its position as one of the few crypto entities to undergo such intense scrutiny.
The World Economic Forum has played a vital role in promoting cryptocurrencies and blockchain technology since 2018. In 2019, it organized a significant crypto summit in Davos, Switzerland, mainly focusing on blockchain technology. The forum launched a center dedicated to the Fourth Industrial Revolution, demonstrating its progressive and futuristic approach.
Despite some criticism, especially from nationalist groups due to its global focus, the WEF is one of the few established institutions that have openly embraced the field of cryptocurrencies. This partnership with Crypto.com further reinforces its position as a facilitator of dialogue and collaboration between leaders in the world of cryptocurrencies.
The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing or trading cryptocurrencies carries a risk of financial loss.