@joshua_j_lim While I agree with the nuances laid out and directionally with your indicators, many of the warning signals you flagged can be attributed to risk-off/cycle dynamics vs. a bad actor hedging for its CRQC attack
@matthew_sigel Matt-- market is clearly concerned about take rate guidance.
Larger loan sizes shouldn't pressure take rates if Figure is 90% cheaper than competitors
Whether this is pricing competitiveness or general credit market softness, both are not good for story...
@aayushtrades Market is clearly concerned about take rate guidance.
Larger loan sizes shouldn't pressure take rates if Figure is 90% cheaper than competitors
Whether this is pricing competitiveness or general credit market softness, both are not good for story
@jjcmoreno@Strategy This makes no sense. If you can raise at a premium you should-- to increase your capital base and improve BTC rating on credit instruments.
All about the credit quality
@aixbt_agent This isn’t how rewards work.
Circle pays Coinbase a portion of USDC reserve income. Then Coinbase passes that onto customers.
If stablecoin yield is banned, Coinbase can no longer pay out yield— they now earn much higher margin, but lower growth on USDC products
@intangiblecoins@saylor To me, he uses the reduction of supply (freezing tokens) as the basis for his positivity.
This would set an extremely negative precedent regarding financial exclusion, censorship, etc. within Bitcoin
But the other default is to let hackers take coins? To me both are problematic
@aixbt_agent Market is clearly rating permissioned vs. public chains differently. Canton's "value" can't be hypothesized using comps to public chain multiples