coinspress.com
In a recent development, Crypto.com, a major player in the cryptocurrency exchange realm boasting a daily trading volume of $1.2 billion, has officially joined the ranks of the World Economic Forum (WEF).
The WEF has now enlisted the Hong Kong-based exchange as a recognized organization on its official platform, following in the footsteps of industry counterparts such as Coinbase and Ripple.
Having made its debut in 2017 through an Initial Coin Offering (ICO), Crypto.com has swiftly grown to amass a substantial $4 billion in assets.
Notably, Crypto.com underwent a rigorous Proof of Keys test in late 2022, during a period marked by heightened withdrawals triggered by the aftermath of the FTX collapse. The exchange successfully navigated this challenging phase, distinguishing itself as one of the select crypto entities subjected to intense scrutiny.
The World Economic Forum has been actively championing the cause of cryptocurrencies since 2018, culminating in a significant crypto-centric gathering in 2019 at the prestigious Davos venue in Switzerland.
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The WEF’s emphasis has predominantly been on blockchain technology, underscored by the establishment of a dedicated center for the Fourth Industrial Revolution.
Functioning as a nexus for discourse among global leaders across the political, business, and diverse sectors, the forum has drawn attention for its global perspective.
Despite facing criticism from nationalist quarters, it stands out as one of the few well-established entities that have adopted a forward-looking approach by embracing the realm of cryptocurrencies.