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.
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GOOD POINTS RAISED
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
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Great question for Stephan Livera...
THEY WILL STILL TEXT ME EVERY WEEK ASKING ME TO GIVE THEM MY 401K DAWG
RUGGED BY THE GOV OR RUGGED BY CORY🤔
Cory Klippsten is the CEO and you're still trying to trust them? Come on!
I turned against them years ago.
I worry that ALLCAPSing every post makes it hard to judge the severity of the matter at hand. Could you add a severity (X/10) rating to your notes?
What did he do?
No severity. Just unanswered questions.
Question @ODELL why all caps?
OK BUT DID YOU COUNT ALL THE MORTGAGES CORY WAS ATTEMPTING TO SKIM OFF OF ?
That dude was just on YouTube talking about increasing block size. He’s an NPC commie.
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.
Because
Aren't they in bed with Ripple or something?
WE CAN'T HEARD YOU
So all in all a totally dumb post of yours. Cory hasn't been skimming & anyone can use home equity to buy almost anything they want. Ok, got it.
IT IS IMPORTANT TO SPEAK CLEARLY.
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
The numbers are real. We’re holding details for strategic reasons until after the next equity round is done, ~April.
You’ll lose that bet
swan, why not spend some money developing in house custody solution for customer funds?
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. 🤔
IF YOU ARE GOING TO RAISE OFF THESE NUMBERS YOU SHOULD BACK THEM UP.
sounds sketch AF
We do, just on an as needed basis right now.
Im withholding details of how many fingers im currently holding up. for strategic reasons.
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 👍
You guys going to be publishing what companies and projects were/are being invested in?
Smart move. Smart move 🤣
😂 
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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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.
I couldn't wrap my head around big money people buying their bitcoin for that lubka guy. Guy seams like an idiot.
yes it is playing out. scumbag banks/intel agengcies going to keep doing scummy things