February 4, 2023

Co-founder of Vkontakte: TON is a speculative high-risk investment

Co-founder of the largest Russian social network "Vkontakte" Lev Leviev is convinced that the cryptocurrency market will always remain in the "gray zone". He told about this, as well as about his attitude to the blockchain project of Pavel Durov Telegram Open Network in an interview with the YouTube channel “Russian Norms!”

Leviev said that he did not see any particular advantages in using bitcoin as a means of payment due to its high volatility. At the same time, he is convinced of the future of the market:

“The theme with cryptocurrencies exists, of course. Huge market, “gray” market. Moreover, the Chinese. I think it will forever remain in the gray zone. "

He also said that he did not become an investor in the blockchain project of his former partner Pavel Durov, since he considers Gram tokens to be a “speculative high-risk investment”.

“The project was perceived as an investment. No one invested in Telegram to go and buy for [Gram tokens] coffee. Everyone invests because they believe that the value of the coin will increase. This is speculation. ” Leviev said.

The co-founder of Vkontakte also believes that the project will exist, but regulators can prevent it from functioning fully:

“I think that they will succeed in some form, butI’m not sure how much it will be widely used and legal ... It will be difficult for them to create a currency that is easy to use in everyday life, because states like to control the currency. No one will allow any independent currency to become very large and completely legal. ”

Lev Leviev is one of the founders of the Blocktrail startup, which in 2016 acquired the mining giant Bitmain.

“I regret that I did not sell it in bitcoins, although it is not a fact that I would keep them,” commented on the sale of startup Leviev.

Recall that in March this year, the media reported that VKontakte could launch its own cryptocurrency.