XBT Provider Admits Knowledge Gaps as It Postpones Launch Of Cryptocurrency Basket
CEO Laurent Kssis told Bloomberg the company had no clue about hard forks and related concepts last year.
Speaking to the publication, XBT’s CEO Laurent Kssis revealed the company did not have an understanding of Bitcoin hard forks and related phenomena when Swedish regulators greenlighted its plans in May 2018.
XBT launched the world’s first regulated Bitcoin tracker, Bitcoin Tracker One, in 2015, and has since added several related products.
According to Kssis, XBT needs to better its knowledge about hard forks and community politics in order to avoid listing a coin which would soon fall out of favor or disintegrate altogether.
“It’s important to ask how the community is responding to the split and who’s going to support one asset versus the other,” he said, adding:
“If we get it wrong, these assets will drop and if they’re part of the basket we can’t go back because it’s in the final term-sheet.”
Bloomberg notes that XBT intends to wait for the market to settle before revisiting its plans.