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NYDIG founder: Don’t invest in non-Bitcoin crypto

2022/11/12 03:55

NYDIG founder and chairman Ross Stevens wrote that he had previously noticed some red flags. These red flags have kept NYDIG from partnering with platforms such as FTX, BlockFi, Three Arrows, Celsius and others over the years. He wrote: “When you cannot satisfy yourself with straightforward answers to straightforward questions such as, ‘how do you make money?’, or ‘why are you positive the GBTC-arb will always be positive and what happens to your business if you’re wrong?’, or ‘why do you think it’s appropriate for us to lend you money with less collateral than what’s required for US Treasury repo or with no collateral or all?’, or ‘why do some of your external investments come from one entity and other investments come from another?’, run, do not walk, away.” Stevens said that do not invest in non-Bitcoin crypto. Do not invest in non-Bitcoin DeFi. This is why NYDIG is a bitcoin company. Always has been, always will be.
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