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Adrian Chng
Founder @ Fintonia Group | Executive Committee @ Singapore FinTech Association
Adrian Chng is currently serving as an Ambassador for the Singapore FinTech Festival (SFF) 2023, which will take place from November 15 to 17, 2023. He is also a Partner at Allen & Gledhill LLP, where he co-heads the Public Policy Practice Group. His professional background includes significant experience in financial services and public policy, having previously worked at the Monetary Authority of Singapore and various law firms, including Linklaters and Jones Day.1
In his role as SFF 2023 Ambassador, Chng is involved in promoting the festival, which aims to bring together global leaders in finance, technology, and public policy to discuss critical issues in the financial services sector, including the impact of artificial intelligence and digital transformation.2
Highlights
I was wrong
Recently, Larry Fink's interview on CNBC brought forth some compelling insights into #Bitcoin, resonating deeply with our stance at Fintonia Group. As a licensed financial institution, we are committed to educating the market about #Bitcoin and providing safe, efficient products within a regulated framework.
One quote from the interview particularly struck me: "I was a proud skeptic... my opinion 5 years ago was wrong."
Like Larry, I too was a skeptic. Over a decade ago, when reviewing investments for our FinTech Fund, Bitcoin seemed primarily about efficient payments, championed by "Tech Geeks" or "Anarchists." The concept of it as a store of value or its potential for large-scale adoption wasn't mainstream. Today, with a market cap exceeding US$1.5 trillion, daily liquidity of over US$20bn, and significant institutional adoption, the #Bitcoin ecosystem looks remarkably different—more suits from traditional financial institutions than ever before.
Larry Fink’s ability to admit his past skepticism was misplaced highlights an important lesson: It’s okay to have strong opinions but essential to remain open to updating them as new information and analyses emerge.
Some key quotes from the CNBC interview: "I believe Bitcoin is a legitimate financial instrument." "Allows you to have uncorrelated types of returns." "An instrument you invest in when you are frightened... when countries are debasing their currencies." "In countries... where you are frightened of your existence... opportunity to invest in something outside your country’s control." "I am a major believer there is a role for Bitcoin in portfolios." "I believe you’re going to see it as one of the asset classes that we will look at." "I look at it as digital gold." "There is a real need for everyone to look at it as one alternative to an optimistic world." "I believe there is a great industrial use for it, and I think a lot of people are missing that."
For those interested find the full video here: https://lnkd.in/gXEQxWP9
#Bitcoin #Investing #DigitalGold #DigitalAssets #FintoniaGroup
Had the opportunity to attend the Founders Forum Group event in Singapore last week. It is great to take a step out of the day to day business to listen and learn different perspectives. Good to see many Founders, VC's and LP's all coming together to share and learn. Nice to meet old and new friends too! Thanks to the whole team Founders Forum Group for organising a great event!
Patrick Grove William Bao Bean Abbey Lim CA Xiuming Shum Navas Ebin Muhammed Carmen James Sonam Gupta David H Voon Walter de Oude Jeraldine Phneah 彭嘉琳 ☁️Eddy Chan Edoardo Collevecchio Yasmin G. Prashant Gokarn Gavin Teo Jayesh Parekh Nicholas Dimitriou Fintonia Group
#entrepreneur #founders
