2min chapter

The Compound and Friends cover image

Reverse Ponzi Scheme

The Compound and Friends

CHAPTER

I Value Crypto Native Firms at Zero, I Value Them at Zero.

Voyager filed for bankruptcy after failing to attract investors. The company had one point three billion in customer deposits on its platform, and we have x hundred million in cash. Nobody wants it at that hedge fund debt that they know is never going to be paid.

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