Re: The Cryptocurrency & NFT Thread Quote:
Originally Posted by Samurai |  Apart from the usual arguments for and against NFTs or cryptos, what a fantastic piece of acting in the video by the lady!
An interesting crypto related story. I met a friend last year. He is from a premier management school. About 15 years of investment banking experience in various countries. A couple of years back he left his job along with one of his friends (similar educational and work profile) and started a crypto exchange in a favourable country. Their goal was to get the exchange popular and make money through the transactional fees etc. They were bored of being investment bankers, or that is what he told me.
After they had set up their own exchange with a robust IT framework, an app, a webportal, top class social media and everything; elite people started contacted them, generally through their own references. Not for doing crypto investments or trading on their exchange but to get a great ROI on their fiat currencies via the crypto route. The duo were back in the investment banking, generating great returns for their clients, just through crypto. The level of wealth that their clients have is quite hard to believe. The kind of investments, trades and returns from the cryptos they offer is extremely good. I am deliberately not using any data, as it is still hard to believe the actual numbers without citing the exchange or clients, which I do not wish to. The duo don't touch the fiat currencies themselves or the cryptos on their own. They just manage the accounts of their clients on their own exchange via user id and password. Nobody knows or asks where those fiats come from. All local rules and regulations are complied with and a small group of elite people make money day in and day out, just not in the way an average joe would.
This 'business' is almost illegal so to say or impossible to be done in India as per current laws and rules. Even if in the future the laws are there, the kind of clients and the duo would never want to take a chance doing it in India.
Last edited by Fuldagap : 7th February 2025 at 21:30.
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