SWAN ISSUED A PRESS RELEASE A MONTH AGO WITH BIG NUMBERS. I HAVE NOT BEEN ABLE TO VERIFY ANY OF THEM.
THEY DO NOT SEEM BELIEVABLE.
Discussion
Hmm 🤔 - considering employment with them but I keep hearing things like this and it has me questioning whether it’s a good idea
They're a portfolio for ten31 and you can't verify?!? Highly sus.
How would you even find verification of this sort of info anyway? Seems hard to find concrete info for stuff like this 🤔
Swan was always sus to me. I'm ditching KYC services anyway
I'll bet that Swan is gonna fold this year
You’ll lose that bet
Great question for Stephan Livera...
That dude was just on YouTube talking about increasing block size. He’s an NPC commie.
THEY WILL STILL TEXT ME EVERY WEEK ASKING ME TO GIVE THEM MY 401K DAWG
RUGGED BY THE GOV OR RUGGED BY CORY🤔
They failed me miserably and are beyond sus. Feds or compromised.
Not sure how much they’ve deployed on loans, but there’s likely trickery if it’s a large amount. All interest payments would be booked as “revenue”, but the net income would be 10-20% of that number. The rest goes to the capital providers.
Third parties will always be a security risk. Someone very smart taught me that.
they have been apart of very few deals I have seen… the syndicate is dry too… good flag
Got turned off after I won the 1 year free premium newsletter and they asked for full KYC.
Stoney was right by the way
KYC newsletter lol.
The numbers are real. We’re holding details for strategic reasons until after the next equity round is done, ~April.
Why does Matt have it in for you guys? It's not a good look to keep calling people out for stuff that never happens. Weird. 🤔
It’s one of Matt’s jobs to report on the industry and he does it well.
Yeah that's good. It does seem like there's some unecessary FUD in there too that creates some backlash against Swan but if that's part of the game then that's cool 👍
Uncertainty is from lack of transparency. It seems that is intentional from Swan at this point. Up to each person to decide if that's backlashable.
You guys going to be publishing what companies and projects were/are being invested in?
swan, why not spend some money developing in house custody solution for customer funds?
IF THESE NUMBERS ARE ACTUALLY REAL THE ONLY THING THAT COMES CLOSE TO MAKING SENSE IS THAT CORY IS IN DEEP WITH BITFINEX / TETHER MONEY.
1) HE ATTACKED NEARLY EVERY EXCHANGE EXCEPT FOR THEM.
2) TETHER IS ONE OF THE FEW THAT COULD HAVE PROVIDED FUNDING OF THAT SIZE LAST YEAR.
SO IF THAT IS THE CASE, HOW EXPOSED ARE THEY IF TETHER BLOWS UP?
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When I see stuff like this I dont know if red flags and alarm bells should be going off, or if there is some information I just have or am thinking about it wrong. Here is my left of curve math.
$125M annualized revenue...
Swan fee rate is roughly 1%, implying gross deposits from customers of about $12.5B to generate that income. Let's be conservative, and say that works out to $1B/month on average.
$1B worth of Bitcoin at today's prices (say $43000) is 23,255 Bitcoin.
The miner subsidy of 6.25/block works out to 900 Bitcoin/day.
23,255 Bitcoin represents 25.8 days worth of new Bitcoin/month.
Swan is an unsung monster, with plebs buying more than Microstrategy.
Odell is listed third on Ten31, and Swan is in the Ten31 portfolio
Why does Odell come to NOSTR in caps and not assess with team?
https://ten31.vc/home/#portfolio
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