1. BITBILIHome
  2. Article

Thailand’s prime minister-elect sparks speculation with shocking crypto connections

• 117 views

TL;DR Breakdown

  • Srettha Thavisin renowned for his past role as the President and CEO of Sansiri, a prominent real estate development firm in Thailand, also boasts a connection to the cryptocurrency realm.
  • An intriguing facet of Sansiri’s involvement in the crypto domain dates back to 2021 when it participated in a substantial fundraising round amounting to $225 million for XSpring Capital, a cryptocurrency-friendly investment management entity.

Description

On August 22, Thailand’s parliament made a significant decision by electing real estate mogul Srettha Thavisin as the forthcoming prime minister of the nation. Thavisin, renowned for his past role as the President and CEO of Sansiri, a prominent real estate development firm in Thailand, also boasts a connection to the cryptocurrency realm. Srettha Thavisin, … Read more

On August 22, Thailand’s parliament made a significant decision by electing real estate mogul Srettha Thavisin as the forthcoming prime minister of the nation. Thavisin, renowned for his past role as the President and CEO of Sansiri, a prominent real estate development firm in Thailand, also boasts a connection to the cryptocurrency realm.

Srettha Thavisin, aged 60, emerged as the sole contender presented by the Pheu Thai Party during the elections, garnering an impressive 482 votes out of the total 747 in Thailand’s parliamentary assembly. This victory potentially holds implications for the country’s cryptocurrency industry due to Thavisin’s family association with Sansiri, an influential company that previously engaged in investment activities within Thailand’s digital asset sector. In April 2023, Thavisin stepped down from his position as CEO of Sansiri, fueling speculations about his eventual ascension to the role of Thailand’s prime minister. Concurrently, he divested his 4.4% ownership stake in Sansiri.

An intriguing facet of Sansiri’s involvement in the crypto domain dates back to 2021 when it participated in a substantial fundraising round amounting to $225 million for XSpring Capital, a cryptocurrency-friendly investment management entity. Subsequent to this funding, XSpring Capital introduced a fully integrated cryptocurrency trading platform in 2022 with aspirations to secure a spot among the top three companies in the crypto exchange market by 2025.

Srettha Thavisin on crypto initiatives in Thailand

Beyond endorsing prominent cryptocurrency initiatives in Thailand, Thavisin’s Sansiri unveiled its own digital asset in 2022 through XSpring. Named the “SiriHub Token,” this crypto token was an integral component of a real estate-backed initial coin offering (ICO) that presented the public with a total of 240 million tokens in 2022.

Furthermore, the political party Thavisin joined in November 2022, the Pheu Thai Party, had previously proposed a scheme to distribute funds to Thai citizens in the event of winning the elections. This proposal involved providing each citizen with 10,000 Thai baht (equivalent to $285) in April 2023, delivered using digital currency.

As Thavisin’s government is anticipated to take office by the conclusion of September, the potential influence of his cryptocurrency background on Thailand’s digital currency policies remains uncertain. In the days leading up to the parliamentary vote, Thavisin utilized the social media platform X (previously known as Twitter) to emphasize that his participation in the elections was driven by his aspiration to enhance the nation and its economy. He conveyed his mission, stating,

“My adversaries are poverty and the disparity among the people. My objective is the welfare of all Thai citizens.”

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

文章来源于互联网:Thailand’s prime minister-elect sparks speculation with shocking crypto connections

Disclaimers:

1. You are solely responsible for your investment decisions and this info is not liable for any losses you may incur.

2. The copyright of this article belongs to the writer, it represents the writer's opinions only, not represents the site's ones. Not financial advice.

Previous 2023年8月24日 03:41
Next 2023年8月24日 04:35

Related articles

  • SEC greenlights first leveraged Bitcoin Futures ETF in the US

    TL;DR Breakdown SEC approves the Volatility Shares 2x Bitcoin Strategy ETF (BITX), the first leveraged Bitcoin futures ETF in the US. Signals a cautious shift in the SEC’s stance on cryptocurrencies, potentially opening the door for more crypto-based ETFs. Approval reinforces the legitimacy of Bitcoin futures, but SEC warns investors about associated risks. Description The United States Securities and Exchange Commission (SEC) has approved the Volatility Shares 2x Bitcoin Strategy ETF (BITX), marking the debut of the first leveraged Bitcoin futures ETF in the country​. This decision comes at a pivotal time as Bitcoin’s value recently surpassed the $31,000 milestone, a surge likely buoyed by major traditional investment companies … Read more The United States Securities and Exchange Commission (SEC) has approved the Volatility Shares 2x Bitcoin Strategy ETF (BITX), marking the debut of the first leveraged Bitcoin futures ETF in the country​. This decision comes at a pivotal time as Bitcoin’s value recently surpassed the $31,000 milestone, a surge likely buoyed by major traditional investment companies like BlackRock filing applications for spot Bitcoin ETFs​. Stuart Barton, the CEO of…

    Article 2023年6月26日

  • Fidelity missed a chance to compete with Coinbase, claims Jurica Bulovic

    TL;DR Breakdown Jurica Bulovic, ex-Fidelity executive, claims Fidelity could have been a strong competitor to Coinbase in the crypto sector. Bulovic argues that Fidelity should have taken advantage of an opportunity by being moderate in its early involvement with digital assets. Alex Thorn from Galaxy Digital agrees, stating that Fidelity was ahead of most traditional financial institutions entering the crypto space. Description Jurica Bulovic, a former Fidelity executive and current head of mining at Foundry, stated that Fidelity could have been a formidable competitor to Coinbase in the cryptocurrency exchange sector. The comments were made in a Wall Street Journal article, sparking discussions about what could have been a different landscape in the crypto industry. According to … Read more Jurica Bulovic, a former Fidelity executive and current head of mining at Foundry, stated that Fidelity could have been a formidable competitor to Coinbase in the cryptocurrency exchange sector. The comments were made in a Wall Street Journal article, sparking discussions about what could have been a different landscape in the crypto industry. According to Bulovic, Fidelity could be as…

    Article 2023年8月29日

  • The surprising surge: What’s driving Litecoin’s price today?

    TL;DR Breakdown Litecoin’s price is on a surge, mainly driven by the upcoming block reward halving in August, which will reduce the mining reward from 12.5 LTC to 6.25 LTC. The crypto’s recent listing on the institutional exchange EDX Markets and a positive market reaction to BlackRock’s Bitcoin ETF filing have also boosted its price. Description In a surprising turn of events, Litecoin is on a winning streak. Defying market trends, its value has taken an upward surge, and the cryptocurrency world is abuzz with speculation. But what exactly has set the wheels in motion for Litecoin’s current rally? Let’s explore the undercurrents driving this surge. Hyped halving and the bullish … Read more In a surprising turn of events, Litecoin is on a winning streak. Defying market trends, its value has taken an upward surge, and the cryptocurrency world is abuzz with speculation. But what exactly has set the wheels in motion for Litecoin’s current rally? Let’s explore the undercurrents driving this surge. Hyped halving and the bullish bias The impending block reward halving in August seems to be…

    Article 2023年7月5日

  • Singapore’s central bank imposes 9-year ban on Three Arrows founders

    TL;DR Breakdown Singapore’s central bank, the Monetary Authority of Singapore (MAS), has imposed nine-year prohibition orders on Kyle Davies and Zhu Su, co-founders of 3AC. The prohibition orders prohibit Davies and Su from engaging in regulated activities in Singapore.  The enforcement action against Su and Davies comes amidst a broader global effort to regulate the cryptocurrency and digital asset space. Description Singapore’s central bank, the Monetary Authority of Singapore (MAS), has imposed nine-year prohibition orders on Kyle Davies and Zhu Su, co-founders of the crypto hedge fund Three Arrows Capital (3AC). The prohibition orders come in response to alleged violations of the country’s securities laws by the duo and their now-bankrupt fund. The prohibition orders, which … Read more Singapore’s central bank, the Monetary Authority of Singapore (MAS), has imposed nine-year prohibition orders on Kyle Davies and Zhu Su, co-founders of the crypto hedge fund Three Arrows Capital (3AC). The prohibition orders come in response to alleged violations of the country’s securities laws by the duo and their now-bankrupt fund. The prohibition orders, which took effect on September 13, prohibit…

    Article 2023年9月14日

  • Xi Jinping’s playbook decoded for China observers

    Description Navigating the enigmatic twists and turns of China’s political and economic strategies feels like unraveling a Gordian knot. There’s a whirlwind of speculations about whether the decisions and trajectory are orchestrated by its current leader, Xi Jinping, or have roots in the foundational principles of the Chinese Communist Party (CCP) dating back to 1949. China, … Read more Navigating the enigmatic twists and turns of China’s political and economic strategies feels like unraveling a Gordian knot. There’s a whirlwind of speculations about whether the decisions and trajectory are orchestrated by its current leader, Xi Jinping, or have roots in the foundational principles of the Chinese Communist Party (CCP) dating back to 1949. China, with its colossal economic ambitions, seems to be maneuvering in a direction that perplexingly undercuts its potential. Shifting Gears or Hitting the Brakes? The list of China’s recent economic decisions reads like a baffling script. Think about prominent entrepreneurs vanishing off the public radar, stringent espionage laws that tangle up business operations, or the stark pivot from nurturing the private sector to favoring state-owned enterprises. These…

    Article 2023年9月21日
TOP