Post by
arh0070 on May 08, 2023 12:49pm
Xrp
The big problem for Crypto companies like bnxa ,Coin and the others relates to trading in the US .
The SEC is very anti Crypto as its outside the banking system and they can't control it .The main token affected in the top 10 in the US is XRP which the SEC states is a security and thus can be regulated by them .As far as I can tell it is not possible or extremely difficult to trade XRP in the US .Dont know how important that is to bnxa revenue stream .Coin is/has set up a trading platform in Bermuda in case the regulatory environment gets a lot worse (which it may do).
Just impossible to know the future of bnxa ,to some degree (for the first time) I agree with Vancity .
BNXA has basically hidden behind this audit issue to avoid releasing any meaningful financial data for a year so its impossible to know what thier financial requirements will be to stay in business .The only way going forward will be a share sale and dilution to existing shareholders if they in fact need more money to keep going.
Whilst it is probably a good time to invest in some Cryptos as the Crypto winter seems to be over ,the companies actually trading the Crypto may not be very profitable or be good investement .Time will tell.