David Bailey's company $NAKA missed quarterly earnings filing and their losses exceed $80 million. image Meanwhile David Bailey's rough comp estimate exceeds $9 million a year 😂 The other execs are also absolutely crushing it. image The only ones who aren't crushing it are Nakamoto's shareholders as the stock is down ~99% from the recent top. image 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.

Replies (20)

I am hesitant to call anything a “scam” per say Trying new things, raising capital on a vision, breaking boundaries, all very risky, and absolutely to be encouraged Whilst any investor that that got involved did so out of their free will Sometimes you win. Sometimes you lose Hopefully people learn from their mistakes I wonder how many of the PIPE investors sold, and bought Bitcoin? View quoted note →
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
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satstacker 1 month ago
What a bunch of greedy pricks. They will be judged and found wanting at some stage
Love to see it. I dont even care that Im overallocated, more pain please