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ICN.live KEY OPINION Exclusive Interview with Constanting Kogan
Constantin Kogan is a seasoned entrepreneur and investor with extensive experience in the cryptocurrency and digital assets sector since 2012. He holds a Ph.D. in Sociology and an M.Ed. Currently, Kogan serves as the CEO of TDX, a crowdfunding and engagement platform by TradeDog Group. He is also a partner at TDVC, a multi-strategy Web3 venture fund.
Donald Trump & Crypto Speculation
After Donald Trump won the election, the market experienced a euphoric rally. Shortly after, he launched his own MEME coin, causing many investors to lose significant amounts of money. An unprecedented short and long positions are being placed on Bitcoin, including a $380M bet on BTC’s decline at 40x leverage. There are rumors that these trades are being executed by Trump’s family insiders. How do you see this situation impacting the industry, especially with the most powerful country in the world being so deeply involved and allegedly taking financial advantage of their business moves?
Regardless of challenging macroeconomic events, if we focus on the positive side, the Trump administration has taken a truly proactive stance toward crypto, marked by several notable moves: Executive Order on Digital Assets (Jan 2025): Established a federal task force to develop a regulatory framework for digital assets within 180 days.
It also explicitly banned a U.S. CBDC, signaling support for decentralized assets over government-issued digital currencies. Strategic Bitcoin Reserve (Mar 2025): Created a national BitcoinClick here for more Details reserve using BTC seized by the Treasury. The administration committed to holding—not selling—these assets, positioning Bitcoin as part of America’s strategic financial future. FDIC Deregulation: Rolled back prior restrictions requiring banks to get pre-approval before offering crypto services.
This move aims to integrate traditional finance with digital asset markets more fluidly. SEC Crypto 2.0 Task Force: Launched to develop clearer guidelines for the industry, targeting innovation without stifling growth through outdated regulation.
These steps reflect a broader strategy: reduce regulatory friction, empower U.S. crypto innovation, and leverage digital assets as tools of economic and strategic influence. While controversial, Trump’s administration is laying the groundwork that could significantly reshape the industry’s role in the global financial system.
AI Agents
AI agents are one of the hottest trends right now, with businesses rapidly implementing various use cases. As an experienced crypto investor, do you foresee challenges arising from AI agents that can autonomously operate transactions for customers? Could they disrupt or complement services in the crypto space?
Autonomous AI agents—capable of managing wallets, executing trades, and optimizing DeFi strategies—have the potential to complement the crypto ecosystem, especially in areas like high-frequency trading, real-time arbitrage, and personalized portfolio management.
They could unlock a new wave of financial accessibility for users who lack technical know-how. However, the challenges are real. Delegating financial decisions to autonomous agents introduces risks around accountability, smart contract security, and algorithmic bias.
At TDX, we focus on creating the best risk assessment tool to identify the “safest yield” and seamless user experience.
In my view, AI agents will disrupt traditional custodial services and centralized exchanges but complement DeFi protocols by improving efficiency and liquidity. The key will be building transparent, verifiable systems where AIClick here for more Details decisions are auditable and aligned with user intent.
In the long run, AI agents will rebalance portfolios much more efficiently than any human. However, today, delegating financial decisions to autonomous agents introduces risks around accountability, smart contract security, and algorithmic bias.
Biggest Mistakes in Crypto Projects
From an investment perspective, what is the biggest mistake crypto projects make when launching their businesses? Is it choosing the wrong chain? Is it launching at the wrong time? Where do you see the challenges?
After launching 80+ projects, here are my thoughts on the top 4 mistakes:
Choice of partners: Surveys of venture capitalists reveal that 65% attribute startup failures to problems within the management team. So choose your partners wisely.
Lack of product-market fit before token launch: Many projects rush to launch a token without validating real demand or solving a specific problem. This leads to short-term hype but long-term value erosion and weak community retention.
Poor token design: very few teams understand that tokenomics serves a core building block of token utility, fostering clear value accrual mechanisms (e.g., through buybacks, staking rewards, or governance) and emphasis on price vs ecosystem health, focusing on building real adoption and utility.
Mistimed launch amid market cycles: Launching during peak bull markets can inflate valuations unsustainably, while launching in deep bear markets often leads to low traction and capital inefficiency. Timing matters, especially for early network effects and fundraising.
UAE’s Crypto-Friendly Regulations
UAE, a country that continues to position itself as a crypto-friendly jurisdiction. What advantages does the UAE offer to Web3 entrepreneurs compared to other regulatory environments?
With zero income tax and favorable corporate tax structures make the UAE is financially attractive for startups and DAOs looking to optimize operations. In addition, frameworks like VARA and ADGM, the UAE offers regulatory clarity—something still missing in many Western markets.
Bitcoin’s Volatility & Personal Strategy
After its impressive all-time high run close to $110,000, it has now corrected to around $80,000, creating a bearish sentiment. How do you personally handle Bitcoin’s volatility, emotionally speaking, and where do you see it this year from a price point of view?
Bitcoin’s volatility is expected—and I’ve learned to stay unemotional, focusing on long-term trends over short-term swings. Corrections like this are normal, even in bull markets. With institutional momentum, ETF flows, and post-halving dynamics in play, I still see Bitcoin retesting $100K+ this year. Volatility creates opportunity for those who stay disciplined. We created our yield products exactly with a mindset to provide a market-neutral approach and optimize strategies irrespective of the cycles.
Open Mic: Your Thoughts on the Market
We’d love to give you the floor for an open answer/insight. What are your personal thoughts on the current market conditions overall, and do you have any insights on the future of the industry that you’d like to share?
The convergence of DeFi and Real-World Assets (RWA) is poised to unlock an unprecedented wave of liquidity in global finance. By 2030, it’s projected that over $16 trillion in assets—from real estate and commodities to equities and bonds—could be tokenized. This shift is already underway, with major banks like JPMorgan, Citi, and HSBC actively piloting blockchain-based infrastructure to bring traditional assets on-chain.
Tokenization offers a powerful value proposition: fractional ownership, 24/7 markets, instant settlement, and global accessibility. For DeFi, this means moving beyond crypto-native collateral and enabling real yield tied to real-world cash flows. It also paves the way for more stable and diversified DeFi lending, reducing reliance on volatile tokens and improving credit modeling.
We are writing a research paper on this to explain it in detail with many examples of what I would call an inevitable evolution of the financial sector.
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