Angel investor warns capital markets are being ‘sunset’ by crypto
Angel investor warns capital markets are being ‘sunset’ by crypto originally appeared on TheStreet.
Former Coinbase chief technology officer (CTO) Balaji Srinivasan says the future of corporate fundraising will happen outside of Wall Street, with companies issuing “cryptoequities” on blockchain networks instead of going public on the NYSE or Nasdaq.
Srinivasan told his 1 million-plus X followers that the real reform to IPOs would be eliminating the costly Sarbanes-Oxley (SOX) rules. He believes this change won’t come through Washington, but through crypto itself.
The Sarbanes-Oxley Act (SOX) is a U.S. law passed in 2002 to protect investors from corporate fraud after scandals like Enron and WorldCom. It requires…
