Pascal Gauthier, the CEO of Ledger, a French company specializing in the custody of cryptocurrencies, returned to the consequences of the bankruptcy of the FTX platform. A scam that could make it possible to “return to basics”.
“Above all it is fraud, above all it is theft”, recalled Pascal Gauthier, the CEO of Ledger, a global leader in cryptocurrency custody and storage. Guest of Good Evening Business, the boss of the French unicorn held reaffirmed that the FTX earthquake was not symptomatic of a broader problem in the world of cryptocurrencies.
“It has nothing to do with cryptocurrency, he said, it’s just actors who have decided to steal money from others”.
And this episode could even be, according to him, the opportunity to clean up the sector. “We have returned to the fundamentals of cryptocurrencies, bitcoin, ethereum, which is the decentralization and the conservation of your money,” said Pascal Gauthier.
“Good market players always advise their users never to keep their agent on the exchange and keep it themselves. And they often advise our services to do that,” he continued.
“Healthy” bankruptcies for the crypto world?
“When you trust FTX, you entrust your bitcoins to FTX which then is its guardian”, he recalled, before specifying: “with us we are the own owner of our cryptos and therefore we are not dependent on a trusted third party”.
Pascal Gauthier proposes in particular to separate, as in traditional finance, the activity of guarding cryptocurrencies on one side and the exchange on the other.
Asked about the risk of witnessing other bankruptcies in the world of cryptocurrency, the boss of Ledger mentioned a “healthy” phenomenon that will make all “bad actors” disappear. This move could also be an opportunity to “refocus on what crypto really is.”
“Crypto is not financial speculation, here we are going to refocus on its real uses,” he said.