Sheesh just read Hayes’s latest article. The financial engineering that goes on is completely mind blowing. I was doing an internal thought experiment. So if I used Gemini earn product my BTC was re-hypothecated like 3 or 4 times just to end in a trust so some dude can make 2% management fee. If an ETF was approved this trade would’ve been dead. Just wild this stuff goes on.
Sheesh just read Hayes’s latest article. The financial engineering that goes on is completely mind blowing. I was doing an internal thought experiment. So if I used Gemini earn product my BTC was re-hypothecated like 3 or 4 times just to end in a trust so some dude can make 2% management fee. If an ETF was approved this trade would’ve been dead. Just wild this stuff goes on.