- Blockchain is the underlying technology of cryptocurrencies but they are not synonymous
- The overall blockchain industry is not necessarily tied to Cryptocurrency volatility
- Development and investment in the blockchain industry remains strong
- News of what is happening with FTX exchange does not directly affect TCC as TCC does not hold cryptocurrencies
MALIBU, Calif., Nov. 11, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire – The Crypto Company (OTC: CRCW) (“TCC” or the “Company”), an early mover in the blockchain and cryptocurrency space providing the educational foundation for the growth of the industry, released today a statement from its CEO Ron Levy regarding recent events in the cryptocurrency industry. The statement reads as follows:
Due to the recent events in the world of cryptocurrency, I thought it would be pertinent to make a couple of distinctions, specifically related to the volatility of cryptocurrency and their limited effect on the blockchain industry as a whole - an industry in which TCC operates.
First, I would like to reiterate that while blockchain is the underlying technology in which cryptocurrencies operate, the category of blockchain is much broader than just cryptocurrency and is not just based on cryptocurrencies, or the value of them. Blockchain has its own unique qualities (programmable trust) that offer use cases in many, many industries that in no way hedge or depend on the values of traded cryptocurrencies.
While the recent events of the crypto exchange FTX are creating much turbulence for cryptocurrencies, the Blockchain world continues to build and we believe that interest remains extremely strong. For instance, the demand for transparency, which blockchain represents, should increase given recent events.
Second, I want to clarify that the business of The Crypto Company is not based on the value of cryptocurrencies, but rather on the delivery of education and consulting services to support development of the Blockchain industry to individuals, government agencies and enterprise businesses.
As The Crypto Company recently announced, we have sold the majority of our Bitcoin mining rigs back to the parties that we originally purchased them from earlier this year. Our company does not hold any cryptocurrencies on the books, and our main line of business remains providing education and consulting through our 100% owned subsidiary, Blockchain Training Alliance.
Due to this positioning, we believe The Crypto Company’s growth trajectory and opportunities will further develop, no matter the outcome of the FTX situation. In fact, we are also paying attention to the possibility of new opportunities for The Crypto Company as the industry continues to change and adapt.
Respectfully and optimistically,
CEO and Cofounder of The Crypto Company
About The Crypto Company
The Crypto Company (TCC) was one of the first publicly traded technology companies in the digital currency and blockchain sectors. The Company’s wholly-owned subsidiary, Blockchain Training Alliance (BTA), is a global leader in training courses and consulting services focused on conveying the underlying technology of blockchain to individuals, institutions, and large-scale organizations. Having consulted with global institutions, organizations, corporations and individuals, BTA offers personalized training and educational services to thousands worldwide. TCC also has wholly owned Bitcoin mining assets. Beyond its currently operating assets, the portfolio continues to seek expansion opportunities in the blockchain space -- where it can leverage its early mover advantage and expertise in this growth industry.
This press release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, such as statements relating to financial results and plans for future development activities and are thus prospective. Forward-looking statements include all statements that are not statements of historical fact regarding intent, belief or current expectations of The Crypto Company, its directors or its officers. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond The Crypto Company's ability to control. Actual results may differ materially from those projected in the forward-looking statements. Among the factors that could cause actual results to differ materially from those indicated in the forward-looking statements are risks and uncertainties associated with The Crypto Company's business and finances in general, including the ability to continue and manage its growth, competition, global economic conditions and other factors discussed in detail in The Crypto Company's periodic filings with the Security and Exchange Commission.