Investor relations management is a crucial part of the operations of any business whose assets are traded by the public. In the growing crypto world, ventures are still learning this the hard way, as NEO’s recent investor relations disaster demonstrates.
Traders, investors and self-proclaimed former supporters of the NEO project are attacking the team on social media and community forums over what they see as misleading behavior. This is while advocates of the company are already battling what they call “baseless FUD”.
The source of the frustrations are a few teasers by NEO promoters that insinuated that big announcements were coming soon. Some took this as a hint to buy and the price jumped as speculation about the possible announcement circulated. A few people even thought this could be related to a possible change in regulations in China regarding ICOs.
When the expected date of the supposed big reveal passed and nothing materialized other than a new developers’ conference, traders reacted in anger and the price fell. When NEO later followed with an announcement of a white paper for a decentralized cryptographic trade and payment service creation platform, some of their followers were already too upset to give the news much credence.
Some supporters have even expressed worries that this type of behavior will cause regulators to crack down harder on cryptocurrencies and ICOs. In the mainstream business world, for comparison, if someone is found to be even hinting at an upcoming major announcement that can push a stock’s price up or down to a selected group of investors at the expense of the general public, they can be prosecuted for insider trading.
What is NEO?
"Chinese Ethereum" NEO Drops After Investor Relations DisasterSometimes referred to by supporters as China’s answer to Ethereum NEO (formerly known as Antshares) is a smart contracts blockchain platform.
NEO supports digital certificates, which the developers say solves the potential problem of untrustworthy nodes on a public blockchain.
They proclaim that “On the NEO blockchain, users are able to register, trade, and circulate multiple types of assets. Proving the connection between digital and physical assets is possible through digital identity. Assets registered through a validated digital identity are protected by law.”
Do you think investors will soon forget and forgive NEO? Share your thoughts in the comments section below!
Images courtesy of Shutterstock, and Bittrex.
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@a-blockchain
Neo's value is predicated on one thing and one thing only: Investors hope that one day China will lift all bans, bless crypto, and in this new world give NEO a place at the head of the table. If this does not happen, NEO will track sideways and eventually pull a Stratis (hover around $3).
I'm honestly starting to think that China couldn't care less about ICO's or NEO and that the rumors surrounding anything having to do with any of these subjects are BS.
@ghmboyan If Neo sucks, then every other coin out there must be a shit coin. Never had a problem with any wallet, great support, and up over 10,000%+. The problem with this post is it wasn’t Neo talking and pumping this “Huge” announcement, it was a bunch of idiots making up their own ideas and spreading it like wildfire. Neo rep there would be an announcement that was all. Teaming up on a promotion with Microsoft is pretty damn good too.
This is nice view on NEO. I am not confident on how to see NEO as you can see each people and country has a view on this currency. But I believe as no one can stop Bitcoin I am sure no one will be able to stop NEO as well. Unfortunately for any cryptocurrency support is a key and this in my own opinion is hardest to assess with NEO.
Yeah dear @akud , also NEO it is analogue Ethereum