1. BITBILIHome
  2. Article

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

• 43 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

  • The menace of Twitter bots: A threat to crypto marketing strategies

    TL;DR Breakdown According to a research report, Twitter bots could distort perceptions of a crypto’s popularity, creating artificial highs in social media engagement and misleading potential investors. Cryptos with abnormally high engagement coefficients, which could be inflated by bot activity, have been found to yield low returns, frequently after a brief spike. The implementation of multi-faceted solutions is necessary to address the challenges posed by Twitter bots. Description Twitter bots have attained notoriety within the crypto industry. Now, two Yale researchers believe they know how to trade more profitably by leveraging phony engagement. In recent years, the crypto industry has witnessed exponential growth and widespread adoption. As this digital revolution gains momentum, marketing strategies have become paramount in ensuring success for crypto projects.  … Read more Twitter bots have attained notoriety within the crypto industry. Now, two Yale researchers believe they know how to trade more profitably by leveraging phony engagement. In recent years, the crypto industry has witnessed exponential growth and widespread adoption. As this digital revolution gains momentum, marketing strategies have become paramount in ensuring success for crypto…

    Article 2023年6月26日

  • Binance flips decision on privacy coins in Europe amid regulatory changes

    TL;DR Breakdown Binance, a leading cryptocurrency exchange, reversed its earlier decision to delist certain privacy coins in Europe, amidst increasing regulatory requirements. The initial move to delist privacy coins was triggered by the European Union’s new Markets in Crypto Assets (MiCA) regulation, which requires increased transparency and information sharing for crypto transactions. Despite initial concerns, the MiCA regulations have been largely welcomed by the crypto industry, including companies like Ripple, for providing clear rules for digital assets. Description Binance has reversed its plan to remove certain privacy coins from its European markets. This decision was made amidst increasing regulatory scrutiny and demands. Binance had previously planned to stop trading services for 12 privacy-focused cryptocurrencies, including well-known ones like Monero, Dash, and Zcash, as well as lesser-known tokens such as XVG and SCRT. This would have affected users … Read more Binance has reversed its plan to remove certain privacy coins from its European markets. This decision was made amidst increasing regulatory scrutiny and demands. Binance had previously planned to stop trading services for 12 privacy-focused cryptocurrencies, including well-known ones like Monero, Dash, and Zcash, as well as lesser-known…

    Article 2023年6月29日

  • Venus Protocol faces $150m liquidation as BNB Chain team comes to rescue

    TL;DR Breakdown Binance Coin (BNB) loan of Venus Protocol teeters on the brink of liquidation as the token’s value dips. Loan originated from a security breach on BNB Chain, where hackers created two million BNB tokens and borrowed $150 million in stablecoins. As BNB value drops, liquidation risk increases, prompting the BNB Chain core team to take control of the loan. Venus Protocol, a prominent DeFi lending platform in the BNB Chain ecosystem, finds itself in a delicate position. A significant loan taken out in Binance Coin (BNB), Venus’ native token, teeters on the precipice of liquidation as the token’s value dips precariously. This impending scenario threatens to disrupt the stability of the Venus platform, a situation made more pressing by the illicit origins of the loan. Origins of the threat The problematic loan in question traces its roots back to a major security breach in the BNB Chain last October. Exploiters seized the opportunity to manipulate security proofs, effectively creating two million BNB tokens out of thin air, equivalent to $560 million at the time. Utilizing the fraudulent BNB,…

    Article 2023年6月15日

  • Supreme court doctrine: Crypto industry claims it halts SEC

    TL;DR Breakdown Last month’s ruling questioned the SEC’s authority over the crypto industry. Coinbase leads the challenge, referencing the Supreme Court’s “major questions doctrine.” The doctrine requires monumental economic and political issues to have direct Congressional input. Description Last month’s ruling regarding the crypto industry’s relationship with the U.S. Securities and Exchange Commission (SEC) has ruffled more than a few feathers. Crypto giants and their supporters are now challenging the SEC’s authority over their operations, all based on a theory rooted in the Supreme Court’s recent doctrines. This move illustrates how the evolving … Read more Last month’s ruling regarding the crypto industry’s relationship with the U.S. Securities and Exchange Commission (SEC) has ruffled more than a few feathers. Crypto giants and their supporters are now challenging the SEC’s authority over their operations, all based on a theory rooted in the Supreme Court’s recent doctrines. This move illustrates how the evolving landscape of cryptocurrency is clashing with traditional regulations, challenging the very fabric of how financial entities are governed. Coinbase Challenges SEC’s Reach Leading this charge is the renowned crypto…

    Article 2023年8月16日

  • Binance Labs invests $15 million into blockchain gaming platform Xterio

    TL;DR Breakdown Binance Labs has made a $15 million investment into blockchain gaming platform Xterio. Xterio says AI integration and multi-chain development are its focus. Description Binance Labs, the venture capital and incubation arm of cryptocurrency exchange Binance, has announced a $15 million investment in blockchain game publisher Xterio. The startup, which positions itself as a “free-to-play-and-own” game developer and publisher, aims to offer players the opportunity to earn non-fungible tokens (NFTs) while enjoying its games. Xterio believes that incorporating blockchain … Read more Binance Labs, the venture capital and incubation arm of cryptocurrency exchange Binance, has announced a $15 million investment in blockchain game publisher Xterio. The startup, which positions itself as a “free-to-play-and-own” game developer and publisher, aims to offer players the opportunity to earn non-fungible tokens (NFTs) while enjoying its games. Xterio believes that incorporating blockchain technology enhances the gaming experience, with player ownership being a crucial element in every Xterio game. Binance Labs shows support with investment in Xterio Currently, Xterio is supporting the development of 11 games across various platforms. These range from mobile Japanese…

    Article 2023年7月14日
TOP