People should understand that companies going forward will just issue crypto tokens instead of deal with the securities regulations that have protected investors for a century. There will be no disclosure of things like income, assets, ownership structure, and risks.
The #SEC has already changed the rules so that a company that wants to issue a token to raise money can just say "this is not a security and thus is unregulatable" and if the SEC does not object within 60-90 days then that company is in the clear permanently.
Mark my words, we're going to see #SpaceX, #Tesla, #OpenAI, and all the other opaque private companies burning insane amounts of money issuing tokens in the not to distant future.
X (formerly Twitter)Bankless (@BanklessHQ) on X.@RobinhoodApp CEO @vladtenev on why we need to tokenize private companies like SpaceX & OpenAI 👇
