Crescite President’s Memo: A Winner is a Dreamer

Dear Token Community,

Crescite is a word meaning “To Increase” and “To Grow”. It comes from the book of Genesis as it is the exact moment when God touches the hand of Adam allowing for humanity to come alive in his image. In terms of blockchain there is a Genesis block which is the first block used within a protocol. Crescite is here to begin a new era of prosperity, growth, and community.

Each of you has played a critical role in the birth of Crescite. In the coming weeks, we are launching a comprehensive website at www.crescite.org showcasing our progress and direction. My next message will be in regard to this launch.

The present is rooted in the past, I think is important to share a few updates:

1. Silicon Valley Bank, Silvergate, FTX, and Signature Bank

Friday was arguably the 4th worst day in United States Banking History. In my eyes, this only ranks behind the mortgage crisis of 2008, the savings/loans crisis of the 1980s, and the Great Depression. Silicon Valley Bank (SVB) made poor risk management decisions as they invested customer deposits into mortgage-backed securities and bonds. They were riding high between 2018-2021, but in life there are always going to be ups and down. They were not prepared for aggressive interest rate hikes and in general were losing value over the last few years due to errors in decision-making.

The present is always rooted in the past, we need to know how we got here:

1. Poor global trade negotiations in 2017-2018 resulted in $600+ billion in losses for American businesses (read about HTMX et al against the United States). Tariffs were used as a negotiation tactic to bring countries to the table for better trade deals. Those countries retaliated, i.e. China, Canada, and others, and consumer goods in the United States increased significantly. For instance, rather than an iphone costing $900, it may cost $1,200 or typical household items may have seen a 10x rise in price.
2. The printing of excess money during COVID. We printed a huge amount of capital and with interest rates low, it created more spending, yet less accountability on potential inflation.
3. The Fed has aggressively risen interest rates amidst inflation caused from 1 and 2, which is an absolute disaster. In raising interst rates, the fraud at FTX was exposed, the financial mismanagement of Silicon Valley Bank was exposed, and we should witness the exposure of poor management decisions in the coming months.
4. In general our fiscal and monetary policy from Washington DC over the last 6 years collectively has been mismanaged. They promoted reckless behavior. such as Sam Bankman-Fried taking customer money with awful accounting practice and Silicon Valley Bank investing customer money into debt facilities losing their value.

It is important to communicate to our token holders our affiliation with current organizations:

1. Crescite has zero exposure to Silicon Valley Bank
2. Crescite has zero exposure to Silvergate
3. Crescite has zero exposure to FTX
4. Crescite has zero exposure to Signature Bank

We have never taken on debt for our community. We have never participated in lending or borrowing.

We will continue to keep our heads above water as we build the most effective, transparent, and collaborative blockchain community on the planet.

The fact that we are one of the only blockchain organizations who were not impacted from the massive contagion caused from a series of events over the last 6 years demonstrates why Crescite is becoming the innovation and ethical leader of the blockchain space.

2. Financial Transparency

In 2023, Financial Transparency seems to be a lacking phrase in global business. Crescite will release its financial publicly toward the end of Q2/beginning of Q3. We will not leave any question unanswered to our community. We plan to continue building the biggest, most profitable, and impactful blockchain community in the world. In doing so, I welcome anyone who thinks we aren’t doing it the right way and we will let our actions speak louder than our words.

Now onto some very exciting news:

3. The First Decentralized Virtual Universe Enabling Cross-Border Transactions

We are very excited to share our launch of the first faith-based virtual universe. You can learn more about the Metaverse at www.acutisgame.com. We were featured in Yahoo Finance (here is the article) earlier today on the groundbreaking announcement

The Crescite Token is the native in-game currency. In our open universe, you will be able to complete cross-border transactions and donations in real-time.

Imagine sitting in New Jersey and sending capital to a faith-based food insecurity mission in Kenya in less than a second? Our team and developers have worked relentlessly to realize a vision not yet achieved in the faith-based and financial world.

More to come on the virtual universe shortly.

4. Staking Rewards

We are currently in development with our investment marketplace. Our goal is to identify large-scale infrastructure projects related to the Sustainable Development Goals.

We have identified a shortlist of locations, including Kenya, Nigeria, Tanzania, South Africa, Mexico, and a few American locations as well.

As Crescite token holders, you will receive added benefits on the platform, which will be defined in the coming months.

5. Governance and DAO Structuring

Our legal firm, Bull Blockchain Law, known for their work with leading blockchain projects and tokens on the market have started the process of our governance structure. This means we will begin formulating the “Crescite Constitution”.

We will have our first governance vote approving the Crescite Constitution in late Q3/early Q4.

Moving Forward

In summary, life presents its unique challenges. It always has and it always will. As I sit here writing this note from South Africa preparing for our Blockchain Africa conference, I cannot help but think about the journey of Nelson Mandela. He was a well-educated man, who could have taken a well-paying job, yet he stayed the course toward a greater good in harsh conditions. He knew where he stood. He stood right there in the face of suffering, difficulty, and turmoil in the pursuit for a more unified world.

Crescite will do the same and we will achieve what we have set out to do together. We are driven, motivated, and will continue on a pursuit of excellence.

“A winner is a dreamer who never gives up. It is in your hands, to make a better world for all who live in it.” – Nelson Mandela, the first democratically elected President of South Africa.

More major announcements are on the horizon. God Bless and Take Care.

— Eddie Cullen

President & CEO, Crescite