David Bailey, the GOAT, never fails to disappoint.
Onwards and upwards to getting delisted.
David Bailey's company $NAKA now has 770.7 BTC in self custody and the remaining 4159 BTC are in custody for their latest loan.
It's a secured, over-collateralized BTC loan.
If Bitcoin drops enough for loan-to-value to breach the Liquidation Level and is not cured within 18 hours, that's a Liquidation Event and the lender can liquidate the pledged BTC.
The lender (Antalpha Digital) also has a rehypothecation right. They may rehypothecate or re-pledge the posted BTC while the loan is outstanding.
So the lender can use (rehypothecate) the BTC during the loan and sell it on a default or uncured margin call.
"Don't use leverage."
- Someone smart
"Don't bet on David Bailey for a turnaround."
- Someone smarter
Don't get PIPE'd by David Bailey, the other suitcoiners, or their promoters.
Onwards and upwards to getting delisted.
David Bailey's company $NAKA now has 770.7 BTC in self custody and the remaining 4159 BTC are in custody for their latest loan.
It's a secured, over-collateralized BTC loan.
If Bitcoin drops enough for loan-to-value to breach the Liquidation Level and is not cured within 18 hours, that's a Liquidation Event and the lender can liquidate the pledged BTC.
The lender (Antalpha Digital) also has a rehypothecation right. They may rehypothecate or re-pledge the posted BTC while the loan is outstanding.
So the lender can use (rehypothecate) the BTC during the loan and sell it on a default or uncured margin call.
"Don't use leverage."
- Someone smart
"Don't bet on David Bailey for a turnaround."
- Someone smarter
Don't get PIPE'd by David Bailey, the other suitcoiners, or their promoters.