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Isn’t $148 million like four meme NFTs? Why would a large company be teetering on the edge for such a small amount of money?
by nikanj 5y ago
Isn’t $148 million like four meme NFTs? Why would a large company be teetering on the edge for such a small amount of money?
- nwidynski 5y agoThe payment on the debt was due today, and as of 3 hours ago that timeframe has passed, which is why the default got announced by the DMSA.
- ndesaulniers 5y agoBecause they have multiple different bonds outstanding with differing maturity dates...failure to pay back one is indicative that there may be successive failures after this one.
- toomuchtodo 5y agoThere are cross default provisions across the bonds. A default on one is a default on all 23 outstanding bonds.
- Yuioup 5y agoThis is interest payment.
- thirtyseven 5y agoBecause they don't have it
- weego 5y agoBecause they actually are in debt to the tune of $300bn but they've managed to keep playing so they stay afloat. This would be the moment the music stops.
- duxup 5y agoFrom other articles the issue is that they can't even pay a "meme NFT" ... If they can't pay that, what can they pay on their 300B in other debts? Other news sources indicate they don't have money coming in, possibly NONE, the real estate market in China is getting cold... and they have unfinished projects that they already collected money on that require money to complete.
- bluecalm 5y agoThey need to pay that in USD not USDT. One of those can be printed at will by your NFT wash trading buddies. The other is not so easy to get ahold of.
- gjs278 5y agoit’s trivial to convert usdt to usd
- quickthrower2 5y ago“large company” doesn’t imply solvency
- anm89 5y agoThats not the size of what they owe, its the size of what they owe today. When you have 0 liquid dollars then $148 million is more than you have.