{"id":13763,"date":"2022-08-27T07:25:51","date_gmt":"2022-08-27T07:25:51","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/thailands-gulf-energy-doubles-down-on-crypto\/"},"modified":"2022-08-27T07:25:51","modified_gmt":"2022-08-27T07:25:51","slug":"thailands-gulf-energy-doubles-down-on-crypto","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/thailands-gulf-energy-doubles-down-on-crypto\/","title":{"rendered":"Thailand&#8217;s Gulf Energy Doubles Down on Crypto"},"content":{"rendered":"<p><b>(Originally posted on : Crypto News &#8211; iGaming.org )<\/b><br \/>\n<\/p>\n<div>\n<p>Although local government is displaying a discouraging stance towards crypto and local exchanges are recording diminishing interest, Thailand\u2019s second richest person is not backing out and plans to continue investing in the crypto space.<\/p>\n<p>Speaking with Bloomberg on Wednesday, the CEO of power company Gulf Energy Development, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-08-25\/thai-energy-billionaire-affirms-crypto-push-amid-market-turmoil#xj4y7vzkg\">said<\/a> that his company considers the <a href=\"https:\/\/igaming.org\/crypto-articles\/\">crypto<\/a> industry as a good source for additional income and plans to continue investing in it.<\/p>\n<p>According to Ratanavadi, cryptocurrencies and blockchain technology will proof to be \u201ckey drivers for the company\u2019s strongest returns\u201d as the entire crypto space is still displaying \u201chigh potential.\u201d<\/p>\n<p>Ratanavadi also confirmed during the interview that his company is still planning to launch a crypto exchange in Thailand. Gulf Energy Development has partnered with the world\u2019s largest cryptocurrency exchange by trading volume, <a href=\"https:\/\/igaming.org\/cryptocurrencies\/binance\/\">Binance<\/a>, to realize its ambitions. In January, the firm informed the Thai Stock Exchange of its subsidiary Gulf Innova <a href=\"https:\/\/igaming.org\/crypto\/thailand-gulf-energy-development-sets-up-a-crypto-exchange-with-binance\/\">launching a digital asset exchange in partnership with Binance<\/a>.<\/p>\n<p>Thailand\u2019s retail trading market is seeing a decline nevertheless. As cited by Bloomberg, data from the Thai Securities and Exchange Commission shows the number of active trading accounts dropping to 260,000 in July from 692,000 in January, alongside a crypto market downturn.<\/p>\n<p>Gulf Energy turning away from its core business and into crypto has become a global trend with <a href=\"https:\/\/igaming.org\/crypto\/microstrategy-shows-faith-and-buys-more-bitcoin-amidst-market-sell-off\/\">MicroStrategy<\/a> purchasing billions of dollars in <a href=\"https:\/\/igaming.org\/cryptocurrencies\/section\/what-is-a-bitcoin\/\">Bitcoin<\/a> and still holding on to them, being the trendsetter.<\/p>\n<\/p><\/div>\n<p><a href=\"https:\/\/igaming.org\/crypto\/thailands-gulf-energy-doubling-down-on-crypto\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : Crypto News &#8211; iGaming.org ) Although local government is displaying a discouraging stance towards crypto and local exchanges are recording diminishing interest, Thailand\u2019s second richest person is not backing out and plans to continue investing in the crypto space. Speaking with Bloomberg on Wednesday, the CEO of power company Gulf Energy [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":13764,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[34],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/13763"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=13763"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/13763\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/13764"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=13763"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=13763"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=13763"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}