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TokenPay [TPAY] speaks up: A response to Tone Vays’ harsh remarks

Priyamvada Singh



TokenPay [TPAY] speaks up: A response to Tone Vays' harsh remarks
Source: Pixabay

In the live YouTube broadcast of 16th July, TokenPay CEO Derek Capo along with Sean Davis clarified his viewers’ doubts on the recent accusations made by the Bitcoin influencer, Tone Vays, at the onset of its partnership with cryptocurrency leader Litecoin.

TokenPay's tweet | Source: Twitter

TokenPay’s tweet | Source: Twitter

Derek started off by clearing doubts raised by Tone Vays, on his work experience and credibility. Tone had previously stated that Derek Capo’s past work is questionable due to multiple overlaps in his career timeline. To this, Derek said:

“Yeah, I’ve done a few businesses at the same time. I am an over-achiever that’s for sure. I speak three languages… I speak Spanish, I speak Chinese. But my life from my past, financially and I guess doing business has never been successful and I’m always trying.”

He also added that he was working at a robots education company, during which he was simultaneously working on multiple other businesses of his own. He recalled that the work went on at nights and weekends, but the businesses failed. He added:

“I have a lot of battle scars from dealing with all the stuff in business and it hasn’t been easy but at the day that’s what you have… a more polished, I guess more savvy Derek.”

The previous accusations thrown at TokenPay were finally marked as “petty” by the CEO. He moved on and established that he wants to prove the haters wrong. In his opinion, what TokenPay is trying to achieve is not easy and takes time. What matters is the right team and being able to execute to keep going forward.

Sean Davis migrated to an altogether fresh topic of ICOs. He pointed out that a lot of people hate the money raised by ICOs. For instance, Litecoin and Verge came out and were unable to raise money through ICOs. Sean admits that a lot of ICOs are money grabs since he listened to several ICO talks at the Blockchain World Conference and sensed that all of them were scams.

However, Sean had a distinct perspective on the money raised by TokenPay through ICOs. He stated:

“…but in the TokenPay’s case, you raise some money in your ICO and you have used that money to build an ecosystem in seven months.”

Further, he concluded that TPAY is a cryptocurrency that owns a brokerage firm in Switzerland via ICO money, is creating an exchange and helping other coins such as the deal between Verge and Mindgeek, which would not have been possible without TokenPay.

Sean David also asked about TokenPay’s partnerships and the flying news of its association with McLaren, a British Formula One team. Previously this month, TokenPay dropped a casual comment on Twitter about closing a deal with McLaren, which was an apparent cause of these rumors.

On this, David clarified that the partnership is a mere rumor. He also explained the dynamics TokenPay requires from brands to establish a partnership and why it is not feasible in most cases. In his words:

“Whenever it comes to a brand, it’s a little bit more about sponsorships and stuff like that. For us [TokenPay], the only way that we would be able to do that is if it makes actual business sense, so for example if it it something like McLaren or any other any company or any brands, the deal would have to be multi-level.”

Another critical factor put forth was a big brand’s inability to have control over its distributions. Derek cited an example and elaborated:

“Let’s say I have a meeting with Nestle chocolate you know, it is a big, big chocolate company right. I can’t tell Nestle… Hey Nestle, go to all your retailers and all the stores in the world and tell them to accept token pay. It’s not gonna happen.”

Currently, according to TokenPay’s official website, its partners are Token Suisse, Litecoin Foundation, Verge, WEG Bank AG and Bitcoin Association Switzerland.

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Priyamvada is a full-time journalist at AMBCrypto. A graduate in Journalism & Communication from Manipal University, she believes blockchain technology to be a revolutionary tool in advancing the future. Currently, she holds no value in cryptocurrencies.


Tether’s [USDT] market capitalization hits all-time high, Facebook in talks with Winklevoss twins, trading firms over new cryptocurrency and more

Guest Author



Tether’s [USDT] market capitalization hits all-time high, Facebook in talks with Winklevoss twins, trading firms over new cryptocurrency and more

Daily Crypto News – May 25

1) Bitcoin Wallet receives part of 5,000 BTC: A recent Whale Alert highlighted a transaction on May 24, where a large sum of Bitcoin [BTC] exchanged hands between two anonymous wallets. According to the alert the transaction took place at 22:13:23 + 1 minutes and 5,000.00001092 BTC was transferred from an unknown wallet, with address 19SiCYaYKZh9A8HUjuh14eg5wtYzKxiFbB, to another unknown wallet with address 14GcjGjxwadzcpmq9EG3KUgTKATjurbnWt.


2) Bitwise Report 2.0: Bitcoin [BTC] futures continues growth: On a month-on-month basis, Bitcoin Futures saw a massive bump in April trading at an average of 10,000 contracts daily, peaking on April 4, with over 22,000 contracts traded. To put that number in perspective, in March 2019, the average contracts traded was less than 4,000. Despite the high standards set in April, the average daily contracts traded in May, with 25 days gone has exceeded 14,000 and still looks to grow, given the price performance of Bitcoin.


3) Craig Wright on private keys: Craig S Wright has, for years, claimed he is the true creator of Bitcoin [BTC] without providing a shred of evidence to support the same. With the crypto-community levelling, Wright could prove his worth by sending BTC from Satoshi Nakamoto’s touted wallet containing around 980,000 BTCs, the BSV man in a twisted cause and effect situation, stated he will “sign” into his wallet only when he proves he is the creator.


4) Tether’s [USDT] market cap hits ATH: Tether and Bitfinex are being closely scrutinized now more than ever due to the NYAG’s lawsuit; however, the scrutiny doesn’t seem to have affected Tether as the market cap of USDT has increased by over $100 million in approximately 70 days.


5) Tether volume shift: Another controversial topic in the cryptocurrency industry was the issue of fake transaction volumes on many of the popular cryptocurrency exchanges. The magnitude of the topic was so large that even Changpeng Zhao, the Chief Executive Officer [CEO] of Binance had raised red flags. This topic and Tether as a whole received another twist when Larry Cermack, the Director of Research at The Block, pointed out a few parameters when it came to the said volume.


6) Bitfinex’s LEO tokens listed on Delta Exchange: Bitfinex’s Leo tokens faced quite a lot of criticism when they were announced, due to the missing $850 million funds from Bitfinex. The private investment round by Bitfinex also faced a lot of heat from the media. However, in a recent development, Leo tokens are being listed on various exchanges for trading.


7) Robinhood en-route a projected valuation of $7 billion: Robinhood, the California-based cryptocurrency exchange made headlines recently when a source close to the organization revealed that it was on the verge of closing their latest round of funding at a valuation of a whopping $7 billion – $8 billion. Sources even claimed that the current round of funding could act as a precursor to an even bigger round of funding, which would pit Robinhood with the bigwigs like Coinbase and Binance.


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