As discussed in the article, because of the limits on shorting, this demanded they put up risk capital in another place, exploit "loopholes" in the mechanism, use a VPN to get round SEC limits, do all kinds of things which could have wound up costing them bigtime.
Useful shorts, market informing moves, I get. But this was a game, with a stake attached to it. Using a stake to get a badly cooked steak. They post-hoc justify it as a way to get to meet and talk to other crypto investors.
This sentence from the article: In crypto, half of it is just being a first mover advantage.
Thats it folks: Asymmetric knowledge and time to act.
As discussed in the article, because of the limits on shorting, this demanded they put up risk capital in another place, exploit "loopholes" in the mechanism, use a VPN to get round SEC limits, do all kinds of things which could have wound up costing them bigtime.
Useful shorts, market informing moves, I get. But this was a game, with a stake attached to it. Using a stake to get a badly cooked steak. They post-hoc justify it as a way to get to meet and talk to other crypto investors.
This sentence from the article: In crypto, half of it is just being a first mover advantage.
Thats it folks: Asymmetric knowledge and time to act.