I spoke with Jirayut ‘Topp’ Srupsrisopa, founder and group CEO of Bitkub Capital Group Holdings, Thailand’s leading crypto platform to understand the way its run and where he is taking the Group. We discussed the company’s regulatory skirmishes and how they are doing in the crypto winter of 2022.
“Topp” says he works closely with regulators to ensure the integrity of its operations, even as it outperforms its peers with a market share of more than 95%.
Despite its strong position in the Thai market, Bitkub is still reeling from a bumpy 2022. It saw a failed Siam Commercial Bank (SCB) acquisition that would have made it Thailand’s first unicorn and faced fines imposed by the Thai Securities and Exchange Commission (SEC) for various infractions.
Moving forward, Srupsrisopa said the company has been changing how it operates to prioritise sustainability over growth. He said: “We want to work closely with regulators and make sure we earn the trust. Right now, as we speak, there are zero issues left. Bitkub is the cleanest, most regulated [exchange in Thailand].”
From the interview, I want to make a mental note that he had a way of blaming others for the group’s infractions. I am curious how this tendency will show up in later years.
