Tag: executives

Coinbase CEO Avoids Mainstream Media, Prefers YouTube, Podcasts and Blogs

Brian Armstrong the Coinbase CEO, has joined the list of cryptocurrency executives who prefer to leverage their own blogs and platforms to distribute information to the media, as opposed to direct contact with any journalists.

Coinbase CEO, Brian Armstrong noted in a tweet that company leaders seem increasingly unwilling to engage with the mainstream media and prefer to use social media platforms like Youtube, Twitter, and their own blogs.

Coinbase CEO Circumvents Mainstream Media

According to the tweet discussion, Armstrong does believe that there are credible journalists in the media and that mainstream mediums still fulfill ‘an important role in society’. However, he asserts that he believes the best strategy is to build a network of a handful of respected journalists and use modern social platforms the majority of the time.

Armstrong weighed the value of going on a national TV program to promote his site, which he claims may generate 100 or so visitors; versus specialist tech publications which tend to drive traffic into the thousands.

Armstrong Not Alone as Crypto CEOs Show Support

Armstrong’s post did instigate a small discussion on Twitter regarding how other cryptocurrency executives and CEOs try to navigate the world of journalism and media communications.

Kraken’s co-founder Jesse Powell was onboard with Armstrong suggesting that too many journalists are out for a sensational click-bait headline. Powell said, “It’s a high risk, low reward relative to publishing your own content or doing a live podcast/video, which can’t be distorted.”

In contrast Catherine Coley, the CEO of Binance.US responded to the tweet in support of the ‘amazing storyteller’ in the mainstream media. 

 I actually believe in the press and how important it is. Yes, we can speak directly to current users now, but for advancing the industry it’s more about telling stories through amazing storytellers. We will continue to support them, especially our fearless crypto reporters.

Image via TechCrunch

Hong Kong Arrests Two AAX Executives

As said by reports from local media outlets, the police in Hong Kong have reportedly detained two executives of the cryptocurrency exchange AAX on suspicion of fraud and deceiving the authorities. On December 23, both the current CEO of Weigao Capital, Liang Haoming, and the previous CEO of AAX, Thor Chan, were taken into custody.They were accused by the local authorities of using the excuse of system maintenance as a justification to delay consumers withdrawing assets when there was a shortage of liquidity.Additionally, it is claimed that one of the executives lied to the police on the timeframe of his activities inside the firm, with the intention of purposefully deceiving law authorities. Two of AAX’s bank accounts, in addition to the bank accounts and properties of the executive, have been placed on hold.According to reports, a third executive has departed the country with an AAX wallet and private keys, which the authorities estimate hold around $30 million worth of digital assets. The authorities in Hong Kong took possession of his real estate holdings and sold them off.As part of the inquiry, the authorities in Hong Kong are collaborating closely with their counterparts from other countries to track down the cash.Because the site, which was situated in Hong Kong and was shut down in the middle of November for “system maintenance,” its 2 million registered customers are unable to access their cash at this time. The local authorities in China, Taiwan, Italy, and France have received more than 337 complaints from victims in those countries.AAX suspended withdrawals on November 14, claiming a bug in the exchange’s ongoing system update as the reason for the action. The firm gave its community assurances that the withdrawal suspension had nothing to do with the failure of the cryptocurrency exchange FTX, despite the widespread speculation that this was the case.A few weeks later, the vice president of AAX’s worldwide marketing and communications division made the announcement that he would be leaving his position.Users in Nigeria have been harassing former workers of the cryptocurrency exchange’s Lagos branch as a result of the closure of AAX’s activities in that country.

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