You did not study Luno well to calculate how much profits they made per day based on their daily trade volume.

Hence your comments are not valid without facts and data to support.

You think Luno been doing well now since crypto winter 🤦‍♀️

They downsizing now and cutting more than 1/3 of the workforce hence they will be next 🤦‍♀️

Don’t forget the actual owner of Luno is DCG which have already failed venture from Genesis 🤦‍♀️ hence cutting the left arm to save the right

This post has been edited by xander2k8: Jan 27 2023, 11:03 AM

My friend just sold all his hellogold

it will be automatically sold on 2/2 and transferred to ur bank account within 5 working days even if u dun do anything

Bro, thanks good insight. We see price drops for Binance, Coinbase, etc. Ok, as long no hanky panky.

Likely, the traditional banks will be interested to buy up crypto licences.

So not concerned with customers...change ownership from A to B.

Otherwise, MAS n MOF semua malu...apa regulators?

Oh

Banks in the 1st place will not buy Crypto licenses as they are not regulated 🤦‍♀️

Even the big boys in US will partner with to run a fund while earning fees hence they are not in the eyes of SEC if anything goes sideaways

Remember banks is always keep the risk as low as possible while earning fees 😂

My simple guess is because the business not sustainable.

Like if u start a restaurant - hire cook n workers, rent etc..but not enough customers come.

Bro Xander,
Crypto license oledi approved in Japan, UK, Sgp, Switzerland, blah blah countries...only Gary Gensler sleeping. It's US against rest of World. USA House finances committee gotta do something.

So, I'm a realist, optimist.
Hahaha, let's move on from this topic.

Told you guys so. Back in 2018 I felt the way the system works is similar to what we see in bitcoin. The asset may be just numbers and pumped up by transactions. Once nobody buys and people keep selling. Sure cannot sustain.

Dah lah he says we will take abit of your gold as management fee. Dude what management fee when you didn't keep any gold pun

This post has been edited by Avangelice: Jan 30 2023, 05:56 PM

I believe got ppl buy but no selling 🤦‍♀️

Most ppl buy gold long term investment and seldom trade hence HelloGold failed because they only make more money via selling through its spread 🤦‍♀️

Management fee is only to cover its operating expenses as you can see from the disclosure it is not making profit hence it is business decision to close down

the end for Hellogold, any other paper gold alt?

Stashaway flexible portfolio for GLD ETF or Versa Gold thematic portfolio

Otherwise you can buy Bursa Gold or NYSE GLD ETF directly instead