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This kind of make sense conceptually. Use the breakup fee as a liquidity event for employees / investors. Question is if $20bn is the right valuation though (e.g have valuation changed given market conditions, Adobe share price reaction on announcement, prob of other buyers etc)
Had not thought about the break up fee. They could keep it all. But here is a thought.
- keep $100-200M
- pay $100M one time bonus to employees
- $200M for employees to exercise/sell at $20B
- use remainder to buy back shares from investors at $20B, returning 2x all cap raised
Outrageous to read about the lack of accounting, compliance and controls at #ftx / #Alameda. Once the dust settles, hopefully one of the fallouts would be an increased focus on bringing experienced professionals in these fields into #Crypto. Too many orgs are de-prioritising this
As a result of corporate due diligence, as well as the latest news reports regarding mishandled customer funds and alleged US agency investigations, we have decided that we will not pursue the potential acquisition of https://t.co/FQ3MIG381f.
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A thread about Axie Infinity( $AXS) Unlock.
21,543,000 $AXS($233M) will be unlocked in 5 days (October 25th).
It should be noted that Advisors will unlock 2,501,750 $AXS ($27M), and Private Sale will unlock 1,997,500 $AXS ($21.6M).
@magdalenakala@SBF_FTX @investvoyager Yeah that’s fair. That should be feasible - the buyers of that product would probably look very different from their existing customers (and my guess would be it would be more or less the same buyers that they’re asking for bailouts). But it would be a more web3 native way!
@magdalenakala@SBF_FTX Interesting. Think the difference is with cases like @investvoyager, where the issues is due to company performance, users wouldn’t want a token, because there is no trust left in the company. Think it’s harder to rebuild trust when you’ve lost money due to risk mgmt than a hack
One of the best things about #Crypto: Retail can invest early in projects & benefit from the financial upside.
One of the worst things about crypto: Retail can invest early in projects, but are at a massive information disadvantage (e.g. prev round pricing, vesting schedules etc)
@solendprotocol Wait what. Understand the complexity given the size of the whale, but how can you do this and expect people to trust the protocol is DeFi?
@TrustlessState Disagree. I like that you’re giving guests an opportunity to express their views (as long as it’s not factually wrong). The whole point of that particular show was to show different views - not for you and Ryan to express yours. This lets people to make their own judgement.