4 ms·

How nice of the SEC to no longer stop companies from doing what was obviously something they should have been allowed to do all along.

• koolba 6y ago
  When the company is profitable and the eventual price is stable, sure it looks fine. But flip it around and pretend it’s a company like Ripple issuing an IPO (for dollars, not crypto scrip) and you realize the historical existence for these rules.
  • 0xB31B1B 6y ago
    the historical reason for the current rules was that computers didn't exist when the rules were written and it would have been extremely complex to make a market for a direct listing via humans calling each other on the phone or traders in pits shouting.
  • deleted 6y ago
    [deleted]
  • hnracer 6y ago
    There's ways to address this such as an open auction with one day to collect buys and sells. You'll get a pretty stable open price determined by the fair open market.