@reganbozman Isn’t the simple answer to all this you don’t get a high multiple unless you have cash flow + growth?
On a long enough time horizon, that’s just the way mkts work
Quick Take on DCG - Genesis:
.@DCGco and @BarrySilbert timed the drop for Friday after hours.
That's when you drop news you don't want in the upcycle.
The bet is that a weekend development will take front cover.
Also, this dropped after Gemini released their last blog update on the Jan 10 vote.
Barry was reserving the right to see what Gemini would say ahead of the vote in case he needed to tweak the message.
Fundamentally, this is good for creditors.
Creditors still have remedies against alleged fraud in a court of law and that action will still play out.
Barry is signalling he is not going down. He will use the cashcow from Grayscale to fund a litigation defense.
Barry's strategy is delay, delay, delay.
Harvest the cashflow from Grayscale as much as possible.
But, courts have timelines and dates.
Justice runs on a clock.
When the clock rings, I expect it is going to sound like a painful rude awakening for @BarrySilbert.
> This weekend I'll have a take on Gemini Earn vote.
> Feel free to DM me any analysis that you think I should look at.
Nice to see Gemini come out in support of the plan. I generally agree with their view that there is room to improve it but Adversary Actions should work in Earn creditors favor. That being said, this news below is a potential wild card. I’m not sure yet what it means for the case
I’m happy to share that @DCGco completed a full pay down of the money borrowed from Genesis
We have now repaid over $1 bn of debt, including this ~$700 mm, despite the headwinds faced by the industry
I'm excited about the industry's next chapter and DCG’s leadership role in it
@MegazineHD@therealLCWOLF There are many scenarios where recoveries can settle out. And timing is still uncertain. At a high level - every creditor group should be aligned to exit BK as a first step. Just marking asset values to today, we’re way closer to the high end, almost no matter how you slice it
My read of the @CelsiusNetwork BK Plan suggests there will be limited clawbacks for retail. A thread:
Based on K&E's plan filed to Stretto 3/31, it appears any retail clawbacks will be limited, provided claimants vote in favor of the plan. #CelsiusBankruptcy#celsiusnetwork
@ix_shells doesn’t want people to “forget about performance art” and is excited to continue working on creative ways to bring experiences and digital art together.