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In an industry where much activity straddles the boundaries of legality, US-based Prometheum has become controversial by virtue of its apparent respectability.
Like Heathcliff in Wuthering Heights, its mere presence stirs up a great deal of anger and resentment among those around it. Aaron Kaplan, chief executive of Prometheum, even admits that his is “the most hated company in crypto”.
The umbrage stems from last year, when the Securities and Exchange Commission’s assault on the crypto market was in full throttle. Prometheum, which had been scratching around the industry since the 2017 boom in initial coin offerings, became the first and still only company to secure an SEC licence to trade and custody digital asset securities.
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