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Michael Saylor | PBD Podcast | Ep. 212
PBD Podcast
What Is the Gating Factor of Cryptocurrency?
Sam created $10 billion in unregistered security and then just borrowed $10 billion secretly from his depositors. Then he issues himself a secret locked token, marks it up on his balance sheet by another $4 to $8 billion and calls it $16 billion worth of collateral. He didn't tell anybody, but he, when they say, well, Alameda had a margin account and the margin position was totally bigger than I thought.
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