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Deep Dive with Kendrick Nguyen, CEO Republic Crypto

Questions answered from 11am PST

with or if you'd like to join the discussion.
Shiva Singh Sangwan
What do you think about 22x Token Fund by 500 Startups?
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Outchea Building the Future of Delivery
@shivassangwan @KendrickEsq Hi Kendrick, I'm one of the founders in 22xFund, I'm happy to chat if you'd like more information for to be able to draw an opinion. I imagine you will start getting more questions around this!
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Kendrick Nguyen
@shivassangwan Likely the first of its kind, to be followed soon by similar funds from YC, Techstars, etc. I really respect the 500 Startups community, but I haven't followed the recent batch to have a specific opinion.
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Kendrick Nguyen
@Kelaivy Thank you! Would love to connect and learn more.
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Jonathan Swanson
Ken, how big do you think crowdfunding equity will be in the US in 5 years? And how much of that $ do you think will be displacing traditional venture vs augmenting? And what types of new businesses do you think crowdfunding will support that traditional venture has not?
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Kendrick Nguyen
@Jonathan-Swanson
Hi Jonathan! Given that crowdfunding and crypto now go hand in hand, it’s hard to predict past a year out, but I have little doubt it will be $10B+ industry in 5 years. Possibly sooner. Traditional venture brings expertise and support to startups that cannot be displaced by the crowd. So less displacing and more augmenting. Many businesses that have been overlooked by VC to date (pretty much anything not in CA/NY/Boston, not tech enabled, and not aiming to be a unicorn) will get a chance to realize their potential with crowd-financing. And some of them may even become appealing to VCs with time. I think crypto+crowdfunding will result in a net win win situation for pretty much every participant in the ecosystem.
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Chuck Pettid
How can companies be sure they are offering compliant ICOs to both accredited and non accredited investors?
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Outchea Building the Future of Delivery
@chucksterolove Hi Chuck there are rules and some platforms that like securitize that help startups stay "compliant". I'm one of the founders in 22xFund - a security token backed by equity from 30 startups. That's what we used.
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Kendrick Nguyen
@chucksterolove vet legal counsel carefully, get a second opinions on issues like offshore structuring and taxes, and align yourself with credible partners in the space.
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Ben Tossell
If you had to sell all your investments but one, what would you keep?
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Kendrick Nguyen
@bentossell Tough question. It would be my equity in Republic. It's been a massive personal investment in terms of time and effort, but I'm all in for the long haul. Second in line would be AngelList and BTC.
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soona
What's a common mistake people make when deciding which crypto companies to invest in?
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Bryan Myint
@soonaorlater A lot of people seem to be investing in companies that make the most noise or that are most "hyped" and talked about on internet forums. There are often groups that specialize in artificially generating buzz just to get people to invest in a certain company. It is important to do research on your own before you put your own money in a project (i.e. look at the team, read their white paper) instead of trying to ride the hype that you can see on the internet :P
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Erik Torenberg
What inspired the creation of Republic?
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Kendrick Nguyen
@eriktorenberg The opportunity to *really* democratize startup investing by including everyone, and not just millionaires. I do believe that entrepreneurship is the most powerful force of good of our time, so there's nothing more satisfying than opening the gate and let more people get involved .. as investors and as builders.
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Erik Torenberg
Should there be no such thing as "accredited investor" in terms of who is allowed to invest (i.e why punish non-rich people?)
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Kendrick Nguyen
@eriktorenberg Depending on their own experience and understanding of investment risks, some people deserve more regulatory protection, whereas others should be allowed to take on as much risk as they want. I think we should absolutely draw that "sophistication" distinction, but yes, agreed that the accreditation line ($1M net worth) is pretty random.
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Daniel Gnecco
Besides Token Daily, what are some public crypto resources you check regularly?
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Kendrick Nguyen
@Daniel-Gnecco Most of my crypto resources are private, like Naval's or Andy's messages on Slack. I do follow Cody Willard, Lou Kerner, and James Altucher for more mainstream views on the latest nays or yays.
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Erik Torenberg
What is the future of Republic?
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Kendrick Nguyen
@eriktorenberg Amazon for private investing of all types. From equity to crypto to impact investing.
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Erik Torenberg
How will the crypto regulatory landscape shape out?
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Kendrick Nguyen
@eriktorenberg It's a one way train towards being more regulated. Pretty much all token presales will be deemed securities offerings, and most ICOs at time of network launch are also offering of securities, unless there's a correlation between the amount people can purchase and actual use of the tokens. I wish that won't be the case, but I think it will be.
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Erik Torenberg
what's something you have a slight difference of opinion about from Naval? Or Andy Bromberg?
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Kendrick Nguyen
@eriktorenberg Perhaps my conviction for the potential and the pace of adoption for retail, non-accredited investing (equity and crypto) is a tad stronger.
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Riley Walz
I invested $25 yesterday to see how Republic works, and I liked it! What are your users' average profits?
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Kendrick Nguyen
@riieywz We launched less than 2 years ago, so it's too soon for a quantitative conversation on liquidity and profit. However, we are working on improving liquidity via tokenizing the crowd safes and the DPAs, so please stay tuned for updates in the coming months.
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Kenneth Ballenegger
What are the biggest unsolved problems in crypto today?
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Kendrick Nguyen
@Kenneth-Olivier-Ballenegger Tough question. I don't know what the biggest unsolved problem is, but I'm going to guess that the most vexing problem in crypto today is the lack of regulatory clarity, from securities to tax to money transmission to privacy.
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Kenneth Ballenegger
What should the government (both legislative and executive) do to best respond to this wave of technology?
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Kendrick Nguyen
@Kenneth-Olivier-Ballenegger By having more conversations with those of us in the trenches, which they have been doing .. but more.
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Stanley
Which crypto projects are you most excited about?
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Kendrick Nguyen
@stanleyhataria Really like TrustToken and their plan to make tokenizing anything and everything easy. Also a big fan of projects on CoinList. I mean, the CL curation process is insane, so kudos to those that emerge from the other end. And crypto investing is still such a painful, unfriendly process, so I'm long on what CoinVe.st is building.
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Stanley
@stanleyhataria @KendrickEsq Wish Coinvest was available on your platform to invest :)
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Kendrick Nguyen
The hour is up, but I'll check back now and then to answer new questions. You can also find me on LI or earn.com/Republic For now, a parting though on crypto participation: deep dive on due diligence, go meet and mingle, and have fun and a sense of humor. Good luck everyone!
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Regan Bozman
Hey Ken! What do you think the best approach is for sales that want to reach accredited investors? Are there things they can do besides just raising under Reg A+?
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Kendrick Nguyen
@reganbozman Reg A+ is only suitable for the rare project that has such a massive following to finance $20M without institutional investors. Reg A+ is also quite costly. Republic can help a project of any stage raise up to $1M from unaccredited investors in a compliant fashion, with all in costs as low as 1/5th a bitcoin.
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Kendrick Nguyen
Hi everyone. Thank you for joining. I'm super excited to share my views on ICOs, venture financing and investment crowdfunding. Ask away, please.
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Erik Torenberg
What's the biggest misunderstanding people have about the regulatory side of crypto investing?
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Kendrick Nguyen
@eriktorenberg Prob the misconception that unaccredited people cannot participate in sale of securities token (they can, through crowdfunding or Reg A+), and that doing the token sale offshore would circumvent that question all together (it does not).
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Erik Torenberg
What's something you believe in crypto that others think differently on
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Kendrick Nguyen
@eriktorenberg The shift toward treating many tokens as securities is actually good for the ecosystem in the long run. Trust leads to participation, which expedites mainstream adoption.
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Erik Torenberg
thought exercise: If we had (let's just say) a mutual friend who wanted to make as much money as possible in crypto in three months, where would you tell him/her to put their money? not investment advice, just broad strokes (lol).
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Bryan Myint
Hey Ken! What is the most that an average non accredited investor (like myself) expect to be able to contribute to ICOs on Republic?
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Kendrick Nguyen
@Bryan-Myint It's a bit more nuanced, but generally, you can invest up to $2200 or 10% of your income / net worth, whichever is higher.
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Kenneth Ballenegger
What key development has brought together the two separate industries of equity crowdfunding and crypto / blockchain technology?
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Kendrick Nguyen
@Kenneth-Olivier-Ballenegger Two things: (i) Decentralization and distribution mean open participation, so projects leveraging blockchain technology typically embrace (if not depends on) contribution from the entire community, making crowdfunding a natural financing option; (ii) tokenization of any asset necessarily improves liquidity, making it more attractive to investors.
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Kenneth Ballenegger
Why hasn't the US crowdfunding market taken off like it has in the UK?
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Kendrick Nguyen
@Kenneth-Olivier-Ballenegger Anything that involves changing people's spending behaviors takes time. We're in year 2 in the US, whereas investment crowdfunding is almost 7 yo in the UK. US investment crowdfunding may be a rocket ship that's about to take off, powered by crypto fuel. So come on board. :)
1
Kendrick Nguyen
@Kelaivy 100%. I'm gonna guess that in a year or two, new securities token exchanges will eclipse the most popular token exchanges today, saved for the currency exchanges like Coinbase and Sfox.
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PA
Kendrick, big fan of your work! I'm working on a service to help blockchain companies "ICO" well by linking them with talented designers for their token-sale landing page.

How can I best get in front of these companies? How did you find and help the companies listed on Repyblic crypto?
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Kendrick Nguyen
@prestonattebery Thank you! If you don't mind tracking down my co-founder/designer Peter Green on LinkedIn, he should have helpful advice to share on this topic.
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