‘The reckoning will come in 2 waves:’ The president of a major stock exchange explains what should keep the crypto world up at night
- The market for initial coin offerings is about to witness a two-part regulatory reckoning, according to Cboe president Chris Concannon.
- The veteran trader said if such offerings are deemed as unregistered securities, then the SEC will go after industry participants and litigation will rise.
- Crypto startups have raised billions of dollars via the fundraising method.
Chris Concannon, the president of Cboe Global Markets, is one of Wall Street’s biggest crypto advocates. But the trading veteran thinks investors should lay awake at night worrying about the uncertainty hanging over the market for initial coin offerings, the popular crypto crowdfunding method.