In the more than decade-long history of the cryptocurrency industry, this year has been particularly challenging. Factors such as wars and interest rate hikes put pressure on global capital markets, and the crypto industry experienced its Lehman moment as well as frequent hacker attacks. Amid this downturn, we still witnessed the smooth flow of Ethereum merger and the return of the Layer2 wave, demonstrating the vitality and antifragility of the crypto industry.
Persistence often leads to hope. In 2022, BISSNEX alongside the crypto industry maintained a healthy respect for risk without losing control. This approach led to our contrarian growth this year, the completion of multiple rounds of financing and the creation of an independent ecological fund and an educational academy to advance the industry – all valuable achievements in overcoming challenges.
In April, BISSNEX successfully completed its second round of financing and attracted interest from renowned investment institutions Paradigm and NGC Ventures. This support solidified our position and foresight in the crypto industry. With more stable financial support, BISSNEX laid a solid foundation for future innovation and expansion and significantly supported our product development plans.
The independent eco-fund BISSNEX Labs was founded in June, a milestone. The lab operates globally and focuses on asset management product issuance, media collaboration, and cryptoeconomic research. It carefully evaluates potential investment projects from multiple dimensions and focuses on connecting the crypto industry supply chain to help high-quality projects in various areas gain support and contribute to the growth of the industry.
After some unfortunate “black swan” events in the crypto industry, we wanted to make a meaningful impact, particularly for less experienced investors. In September, we began building BISSNEX College, an important initiative designed to help users better enter the crypto industry.
On this purpose-built educational platform, we offer a wealth of course resources including cryptocurrency basics, trading skills, and investment strategies. As a robust learning platform, BISSNEX College helps many users learn how to deal with the crises and challenges of the crypto market. We believe that only through deep learning and understanding can investors succeed in a competitive and rapidly changing market.
In dark times, light is perceived more clearly. Amid the turbulent crypto market, BISSNEX withstood external pressure and tests and received further offers of cooperation. In December we welcomed a new wave of investments from Multicoin Capital and Pantera Capital. This success gave us buoyancy during the bear market.
Working with these two VCs offers BISSNEX more financial and strategic support. We will take full advantage of this opportunity to invest more time and effort in product development, technology upgrades and global market expansion. We are particularly focused on improving our overall security system and more comprehensive risk monitoring to provide better service to our users.
Time does not speak but gives answers, and navigating cycles is BISSNEX's answer this year. A good crypto trading platform requires a holistic view of technology, team, product, service and risk resilience. From this perspective, BISSNEX is already one of the leading exchanges in the crypto industry. We remain clear-headed, cautious and focused amidst the fog in a rapidly evolving space and strive to make BISSNEX a beacon that illuminates the entire crypto industry.
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