Shark Binh Warns About Startup Coin Issuance

Shark Binh Warns About Startup Coin Issuance: Hard Lessons From Real Experience

At the Go Global 2025 Conference, Nguyen Hoa Binh – Chairman of NextTech Group, widely known as Shark Binh – shared candid insights on Vietnam’s fintech and crypto market.

Startups Raise $3–5 Million, Then Fail

Shark Binh warned that many local startups issue coins to raise between $3–5 million USD but quickly lose direction. Some projects almost “give up,” fail shortly after fundraising, and eventually 99% of coin projects hit a dead end. The result: investors lose money, while founders legally walk away with huge profits.

He emphasized that blockchain should be seen as a technology with real applications, not a shortcut to sudden wealth. According to him, Vietnam’s upcoming legal framework to recognize digital assets and establish domestic exchanges is a positive step, helping manage risks while generating lawful tax revenue.

Costly Lessons From AntEx

Beyond his warnings, Shark Binh admitted he had his own painful experiences in the crypto space. In 2021, his Next100Blockchain fund invested $2.5 million into AntEx – a much-hyped DeFi ecosystem.

However, ANTEX tokens lost 99% of their value as the project’s website and communication channels disappeared. By 2023, the project rebranded to Rabbit (RAB) at a ratio of 1,000 ANTEX = 1 RAB, but the new token still dropped 95% from its peak, leaving investors with almost nothing. Other blockchain projects backed by Shark Binh, such as NFT game Dragon Land, also collapsed early.

He admitted he was also a “victim” when the development team abandoned the project, leaving both investors and supporters in the dark. This, he said, is why he felt responsible for sharing his story to warn the community.

Online Backlash And Debate

After Shark Binh’s speech and subsequent Facebook post, the online community sparked heated debate. Some investors accused him of initially backing AntEx and encouraging local investments, but staying silent after the token crashed.

Many questioned his role, asking why he only spoke up years after the collapse. Shark Binh responded that he too suffered financial losses and now speaks out to prevent others from repeating his mistakes.

On social media, he even tagged specific individuals, demanding direct “face-to-face clarification,” which further fueled public controversy.

A Wake-Up Call For Startups And Investors

Shark Binh’s story reflects a global reality: most coin projects fail, and only a few survive long term. His advice goes beyond startups and extends to investors – approach digital assets with caution, avoid chasing hype, and recognize blockchain as a tool, not a get-rich-quick ticket.

Disclaimer: The content above reflects the author’s personal views and does not represent any official position of Cobic News. The information provided is for informational purposes only and should not be considered as investment advice from Cobic News.