@Mr_Neutral_Man@CalduchGer77003 Won't giving flatbush back incur a huge taxable gain? and I think 250 Livingston has the same issue. They are held at about 140mm and 30mm respectivelly net of Dep. and would incur close to a 300mm taxable gain. Do you think they can hold on to those assets?
@DanielSLoeb1 Great stuff! But this one happens to be a second step conversion and they are simultaneously acquiring $NFBK - market seems to imply it will trade at $10 or below.
R’ Ezra Altshuler, famous author of Takanat Ezra and a real traditionalist, wrote copious critical notes throughout Dor Revi’i. On the Introduction however his only criticism is about Dor Revi’is explanation of Prozbul.
@marginofdanger@boazweinstein If discount permanent, they might have been better off with a 5% quarterly tender at NAV, think about where it would be trading if they would list and leave that in place.
@JohnCoxCap We want your thoughts, what are secondary trading discounts, redemption queues, for the underlying holdings, and how do you feel about their valuations? these are assets that deserve a large discount in a wrapper that deserves a larger discount, with fees for each level.
@APompliano If understood the deal correctly this is not accurate,
There is currently "no bitcoin exposure" through $CCCM as all upside through business combination accrues to pref equity investors and ProCap (unless bitcoin >200,000).
The CEO of Tether believes the business is worth $2 Trillion.
$2,000,000,000,000
That number may sound crazy, but Tether is the most profitable company per employee in human history.
I sat down with CEO @paoloardoino to discuss regulation, emerging markets, the Circle IPO, working with Cantor Fitzgerald, helping the DOJ, extrapolating economic data, and what Tether is investing in with their $13 billion of profits annually.
Enjoy!
TIMESTAMPS:
0:00 - Intro
1:30 - Senate passes Genius Act
4:49 - Tether plans for US legislation
8:14 - Individuals portfolio: bitcoin, stablecoins, dollars
15:53 - Circle IPO
20:05 - Relationship with Cantor Fitzgerald
25:58 - Working with the DOJ
28:20 - Exploring real time information
33:04 - Will Tether be integrated into the stock market?
35:27 - Tether investments and vision for the future
44:40 - What is Paolo’s motivation?