Wall Street is often considered the place where dreams come to life, but the economic hub of the world can also be an absolute nightmare. Brokers across the trading floor are yelling at each other, up to today’s modern electronic trading system, to discuss money on Wall Street. However, while NYSE has more than 28.5 trillion in assets, not much has been said.
On Wall Street, it is believed that history does not repeat itself, but rhymes. The world’s financial system has failed miserably over time, but when Jack Tao, founder of Phemex, initially joined Morgan Stanley in 2009, nothing could prepare him for the limited design financial market used to retail investors. Far from raising public attention to dealing with exclusive partners, ranging from raising censored trade fees, Jack began to see the system as it was – oblique to the rich and influential.
The name ‘Phemex’ comes from two words – ‘Pheme,’ the reputation of the Greek god, who was a path to public opinion, and ‘MEX’ (short for commercial exchange). Phemex believes that our financial system can be better, but only when everyone has an equal foundation, and one point of view cannot accept the other.
Jack saw the possibility of a whole new world of financial services – where everything was reset and everyone was given a chance to fight. During his quest to find a way to implement his design, Jack finally discovers blockchain.
His adventure began as a bitcoin mine, joining a well-known cryptocurrency exchange to start investing in technology. However, due to technical errors and poor control, Jack may lose a significant portion of his holdings through an exchange error. That was a problem.
In his mind, digital resources represented the ideals of decentralized control, financial independence and individual sovereignty, but these ideals were only being applied to the surface. The story of Phemex’s origin really begins here.
In 2019, Jack, along with eight other Morgan Stanley executives, founded Femex to enable a blockchain-driven future for the world economy, where power will never be exhausted among a select few, and opportunities will never be exhausted.
The idea of money has been centralized from the beginning. Before Bitcoin, the idea that a currency could hold value without a credible intermediary was completely foreign. Blockchain is the humanitarian response to the inefficient management of capital by a centralized entity that allows censorship-prevention, distribution control, and unreliable price transfers without borders.
In the last two years alone, Phemex has expanded One of the top global derivatives exchanges in the cryptocurrency industry, with 1.5 million users and a quarterly trade volume of more than 266. Designed from scratch by a squad of billionaire Wall Street veterans, Femex was created to bring financial services to the public using its intuitive design, power-fast trading engine and a positive outlook on community feedback.
With its team of financial experts, Phemex is moving towards becoming the safest and most reliable Digital resources Exchange in the world.
Break through, break free
The common sense is that ineffective middlemen destroy the system, catalyze the birth of cryptocurrency, and blockchain technology enables people to trade without restrictions. The traditional stock market has assets of about trillion trillion dollars, and with so much money on the line, it can be hard to remember that there is a real person behind the metrics of every moving market.
This month, Femex It is also giving its user interface a complete overhaul, including a complete redesign of its visual design so that users can easily participate in the ongoing blockchain revolution. Contrary to popular belief, the world’s financial systems are not designed to be unfair, but that does not change their reality.
Trading is fundamentally competitive, but that does not mean that competition cannot be neutral. Femex seeks to strengthen an economy driven by freedom, equal opportunity and organic growth by allowing its users to contribute to meaningful markets on their own terms.
By removing barriers created by monopolies or privileges, Femex provides a platform where winners are decided based on their skills and foresight – not their connections.
Cryptocurrency investors are embarking on an adventurous journey to overcome the barriers created by the world’s traditional enduring financial ecosystem. Create your own path, and get rid of Femex.
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