Matt Zhang, former director of Citi, stated that some projects should not issue cryptocurrency.
These days, when US regulators increase the pressure on crypto money, different thoughts began to emerge. Among the ideas that come with harmony and solution-oriented, the adaptation of cryptocurrencies to the industry is very often talked about. The crypto industry, on the other hand, remains united in the face of pressure from regulators.
In an interview with The Block, former Citi executive Matt Zhang argued that some crypto projects should not create tokenization, citing regulatory pressures.
Former Citi Executive Makes Statement on Web3 and Crypto Projects
Matt Zhang, a former executive at banking giant Citi, interviewed The Block. Zhang touched on the increasing crypto pressure and the nature of the projects recently.
Zhang drew particular attention to Web3. According to the former executive of Citi, the concept of the project token created on Web3 is wrong. Zhang argued that Web3 should run a business in different ways and act community-first. For this reason, Zhang thinks most Web3 projects are not organic enough to have cryptocurrency.
Stating that almost every crypto project has turned to tokenization after launching on the mainnet, Zhang underlined that some of these projects should not have cryptocurrency.
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