Exclusive: Ads Ban to End ‘Wild, Wild West' Era in Crypto Community

In an exclusive interview with Cryptovest, former hedge fund manager-turned-cryptocurrency developer Garen Ovsepyan said he considered the bans a positive thing. Ovsepyan is nearing the completion of his cryptocurrency Thalr, which he expects to launch this year.

“The Wild Wild West era of the crypto/ICO community is starting to fade away and that’s for the better of the blockchain community in general, at least for those that are involved in legitimate and truly useful projects.”

On Tuesday, microblogging platform Twitter formally joined Facebook and Google in banning ads related to ICOs, digital currency exchanges, token sales, and wallet services.

“We are seeing the space move toward a more structured and efficient way of raising capital, and hopefully the participants who choose to invest into ICO's and crypto, in general, are taking the time to educate themselves with the project(s) they are looking to invest in to. In essence, the crypto community will go back to its roots, where building a community becomes the foremost important factor in any crypto project.”

Crypto community welcomes the ban

Not surprisingly, the crypto community had mixed reactions to the internet giants' common stand on virtual currency. Some welcomed it, while others dismissed it as a mere distraction.

“I think it is going to become even more focused on relationships and finding trusted partners who can help them navigate the space.”

Todd Kandariz of StepWyze believes that the impact of the cryptocurrency-related ad ban will diminish over time. He described the move by Google as a wasted attempt “to stem the tide of the eventual replacement of the old centralized economy with the newly decentralized crypto-economy.”

Kevin Lew, a Singapore-based marketing manager at CryptoProfile, said Google’s decision would not have a far-reaching effect.