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The extremely charitable read is that 1. They have all the funds 2. Many are in cold storage or otherwise inaccessible in short term 3. Their cold storage re
by shawabawa3 4y ago
The extremely charitable read is that
1. They have all the funds
2. Many are in cold storage or otherwise inaccessible in short term
3. Their cold storage restore process is so slow they need emergency help to provide liquidity in the meantime
Seems more like that they've either embezzled client funds or been hacked/lost some cold storage keys
- viscanti 4y agoIn that scenario they could point to some of the wallets to help calm the fears the money isn't available. Or they could approach a number of different lenders who would be comfortable lending at high interest rates if the money is there but slow to access. They only sell if we're in the non-charitable case.
- astrange 4y agoThe normal way to handle this would be insurance or a line of credit, not selling your company to your competitor overnight.