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There are hundreds of cryptocurrency exchanges and trading platforms, with more popping up every day. With the industry still only a few years old, however, most of these are private companies.
Coinbase paved the way for that to change, however, with a lot of public outcry last year. North of the border, Canadian platform Coinsmart followed suit after a long time, officially going public in November 2021.
The concept of public companies within crypto is fascinating. For an industry often tagged — rather at times unfairly — with a lawless reputation, there are few things that can be more reassuring to investors than an exchange going public. Automatically, one assumes that a public company is reputable in the space, given the regulation and transparency inherent in such listings.
Yet very few companies are doing so. I sat down with CoinSmart’s COO Jeremy Cowen to get his thoughts on why he decided to go public, and whether the trend towards a private-company-dominated industry will change going forward. We also talked about the bear market, and how it affected CoinSmart – remember, the exchange went public in November-21, the same time Bitcoin was trading at its all-time high of $68,000.
We also discussed the fascinating backlash of a Canadian truck driver protest earlier this year, when the government stepped in to freeze the assets of anyone involved. This has caused many people to shut down their bitcoin and other crypto exchanges, putting it on cold storage for safekeeping.
It’s a taste of a very pleasant conversation with Jeremy, a well-talked-about and informative man who gives the sense that he really enjoys what he does.
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