Ryan Delk
@delk
What's the no-FUD explanation for why Coinbase 2031 bonds are trading at 53% of par?
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Ryan Shea — e/acc
@ryanshea.eth
Maybe that they have an extremely high burn rate including stock based como and their revenues are expected to decline so shareholders will get crazy dilution and also there’s risk of the company going out of business if spending (incl stock awards)?isn’t significantly reduced.
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