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5Money
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Shark Bình: Many startups issue coins raising 3-5 million USD and then start to 'fail'
At the Go Global 2025 Conference, Chairman of NextTech Group, Mr. Nguyễn Hòa Bình shared many views on the fintech and crypto sectors:
- The government is preparing for some legal regulations to recognize digital assets, this is a positive signal.
- Previously, many international exchanges invited Vietnamese people to participate in trading there. Trading – meaning not creating much real value, while we do not collect any tax revenue, and the platforms of foreigners across borders benefit. The government's issuance of regulations for recognition is to require the establishment of domestic exchanges for management and tax collection, which is a necessary action.
- The fact that startups issue coins to raise capital is essentially just raising funds before doing. They issue coins, collect a lot of money 3-5 million USD and then start to fail, many startups do not continue or fail.
- 99% of coin projects fail, investors lose money, while developers legally benefit from the funds.
With investment experience in several blockchain projects, digital currency since 2017 to now, Shark Bình sincerely advises businesses: "Do not get too engrossed in that."
At the Go Global 2025 Conference, Chairman of NextTech Group, Mr. Nguyễn Hòa Bình shared many views on the fintech and crypto sectors:
- The government is preparing for some legal regulations to recognize digital assets, this is a positive signal.
- Previously, many international exchanges invited Vietnamese people to participate in trading there. Trading – meaning not creating much real value, while we do not collect any tax revenue, and the platforms of foreigners across borders benefit. The government's issuance of regulations for recognition is to require the establishment of domestic exchanges for management and tax collection, which is a necessary action.
- The fact that startups issue coins to raise capital is essentially just raising funds before doing. They issue coins, collect a lot of money 3-5 million USD and then start to fail, many startups do not continue or fail.
- 99% of coin projects fail, investors lose money, while developers legally benefit from the funds.
With investment experience in several blockchain projects, digital currency since 2017 to now, Shark Bình sincerely advises businesses: "Do not get too engrossed in that."
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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