Steve Cohen Quietly Setting Up Crypto-only Asset Manager

Galaxy Digital Holdings (OTCPK:BRPHF)rose 3.4% in early Monday trading after the digital asset investment company terminated its agreement to acquire BitGo after BitGo failed to deliver by the end of July its audited financial statements for 2021 as required by the agreement.

There was a big red stamp that read "PONZI" on the prelim papers . That was a red flag
 
GlobalMacro90 said:
“Despite the steep downturn in the digital asset market, we are still seeing substantial interest from some institutional clients in how to efficiently and cost-effectively access these assets using our technology and product capabilities,”
More...
What does this even mean? If the customers did their homework, they would realize self custody is the only way to go. If they are looking to buy such a large amount that buying spot would trigger an unintended rally, then this would certainly be interesting. So do they just need help with some sort of programmed buying, like Musk having to sell billions of dollars of TSLA without causing a panic plunge?

Its probably most likely that Blackrock would in some way be a custodian, very much like an ETF, and then all these institutional clients will therefore one day learn a very important lesson. Heck, I wouldn't even be surprised if some smart genius shows a receipt for some bitcoin purchases to a client that he will then show a few more, tricking them all into thinking they have the same bitcoin.

Purchasing bitcoin doesn't need their "technology and product capabilities". This isn't gold they need to store in a vault and pay a monthly storage and security fee to watch, nor a hefty bill to sell and therefore move around.
 
The same Cohen who lost his prior hedge fund, because he could only make profits by insider-trading? The same Cohen who during his disposition, etc. claimed he was to stupid to even know what insider-trading was? Or understood the term?

And yes, having to pay out 2 billion in fines to the SEC...

Is this the guy we are supposed to worship?
 
The_Krakenite said:
The same Cohen who lost his prior hedge fund, because he could only make profits by insider-trading? The same Cohen who during his disposition, etc. claimed he was to stupid to even know what insider-trading was? Or understood the term?

And yes, having to pay out 2 billion in fines to the SEC...

Is this the guy we are supposed to worship?
More...


yes.
 
You must log in or register to reply here.
Back
Top