Chief Economist @krakenfx. 💰 Former L/S Special Sits Analyst @ Moore Capital. 📈 Amateur astronomer. 🔭 Thoughts are mine. Vires in Numeris. #Bitcoin#crypto
This theory that these tokenized shares are "creating" shares of the underlying stock is akin to claiming ETFs "create" shares of the underlying stock.
It's a really weak argument, in my view.
One theory is that nobody should be allowed to create a share of stock except the company whose stock it is. (via @opinion) bloomberg.com/opinion/newsle…
The discussions about tokenized equities stemming from the debate between @CEOAdam, @vladtenev, and @DanGallagherDC is electric.
I've studied tokenized equity structures for half a decade now, the good, the bad, the ugly. Here are my thoughts:
(1) The world is bigger than just
Seriously? What’s the concern you ask, @vladtenev? The list of concerns is almost existential.
U.S. securities laws are in place to protect investors. For good reason, we spend millions and millions of dollars every year to comply with U.S. securities laws. In good. conscience,
These tokenized securities are issued under a prospectus outside of the US.
They’re not fake. The difference is Switzerland created laws governing the issuance of tokenized securities over half a decade ago.
Adam is 100% right and these fake securities will be a disaster that has the potential to BK Robinhood again (i say again as they had to be bailed out once already.) it also has the potential to cause another financial crisis. Synthetic securities are just a Ponzi scheme. This
