I'm not surprised at all that tko has this performance.

The operational capability of Tokocrypto exchange is really poor. A web3 platform that insists on moving towards offline trading is clearly off track in its operational strategy.

BnPay's business has already proven that this path is not viable. To put it diplomatically: it's not yet the time for web3 payment scenarios to be implemented. Yet Tokocrypto continues to pursue some bank collaborations and engage in useless offline channels, resulting in being outpaced in the web3 business by local new exchanges.

For bn, Tokocrypto is like a spare rib—there's no meat to eat, but it's a pity to discard it. Acquiring it was bn's most failed investment.