David Bailey's company $NAKA missed quarterly earnings filing and their losses exceed $80 million.
Meanwhile David Bailey's rough comp estimate exceeds $9 million a year đŸ˜‚
The other execs are also absolutely crushing it.
The only ones who aren't crushing it are Nakamoto's shareholders as the stock is down ~99% from the recent top.
There is probably a lesson to be learned from this. Try to stay away from obvious scams.
Also, David Bailey absolutely knew this was going to happen and continued to promote the stock.
Nakamoto's PIPE investors got in at $1.12 with no lockup and bought ~455M shares and then dunked on retail while David Bailey and co promoted the stock on all kinds of Bitcoin podcasts.
Did they purposefully miss filing? Foul play?
A miss-allocation of capital to say the least…
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Funds are safu.
Still plenty to explain given the crazy equity price drop
I did see another deal where someone was promoting the fact you could set in pre-ipo with a 10x on listing
Sus to say the least
There’ll be plenty who get caught out I am sure
