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Mike Cagney 🇺🇸
3,761 posts
Mike Cagney 🇺🇸
@mcagney
@Figure (FIGR) executive board chair, co-founder of Figure, @Provenancefdn (HASH) and @SoFi (SOFI). Views are my own, not investment advice.
- So what if we offered the following... BTC second mortgage. Let's say you have a $500K home and a $350K mortgage. We lend you up to $250K (1.2 CLTV) to buy BTC, subject to you holding the BTC in escrow as collateral. No credit check, no underwriting. Market interest rate.
- We've had $15.5B of net inflows into BTC ETFs, but a $7.5B increase in futures open interest over the same time period. The basis trade (buying spot via ETFs and selling futures forward to earn what was an insanely high drop) - not some Coinbase conspiracy - is why the ETF
- Back in late 2021 we were working with a group of banks to build a public blockchain tokenized deposit product called USDF. This had the potential to eliminate ACH, leapfrog FedNow and seriously challenge the interchange monopoly, while putting the US at the forefront of
- Here is my current thinking on Ionic and the Celsius creditors. We think there is value in Ionic’s infrastructure. We think with the right leadership, there is a business model that serves crypto mining, AI and green in a way to create real enterprise value for the business.
- Excited to announce that we are recombining @Figure and @FigureMarkets. I split the company in two last year given the regulatory headwinds around blockchain. I was fortunate to bring Mike Tannenbaum in as CEO of Figure, and I became CEO of Figure Markets. With the change in the
- I've never come across a system more in need of an overhaul than US bankruptcy. The amount of graft, corruption, greed (and often incompetence) at creditor expense is amazing. Crypto bankruptcy creditors deserve better.
- We are at 24.85% of shares to force a board meeting at Ionic Digital. 0.15% to go - every share counts! This is to force a board meeting to introduce alternative paths for Ionic (all with immediately liquidity options), and to force board action. Pledge your shares here:
- If you were a Celsius creditor and got cash to buy BTC instead of Ionic shares, you'd be up over 150%. Instead, you've got a stock that doesn't (and isn't allowed to) trade. Join over 3,500 of your fellow shareholders (including most of the largest) who have committed to back
- I want to keep everyone updated on our efforts to bring value and liquidity to Ionic Digital shareholders. The company did respond to the demand letter. They seem to be amenable to handing over the shareholder registry but are resisting the other information requests. We will
- Blockchain wallets are going to completely disrupt how financial services work. Today, you have an account at a firm like SoFi. They provide you access to crypto markets, securities markets, banking, loans – all through their native app. It’s convenient, but you are captive to
- There is a lot of discussion around tokenizing equities. Most everything I’ve seen on this subject has been wrong. The primary reason to put equities on blockchain is to use equities as collateral (in defi and CEXs) with secondary benefits of cross settlement (equities to BTC,
- I can sense the desperation over at Ionic Digital. They released another fantasy press release yesterday, where they continue to confuse facts from fiction. So let me drop some indisputable facts: Fact 1: After emerging from bankruptcy over 13 months ago, Ionic has yet to
- I'd like Ionic Digital to be the first public equity to pay dividends in BTC. We're making progress - we'll soon be reaching out to all of you who have pledged your support to capture some incremental information we need to call for the board meeting. Lets get liquidity!