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Aug 15 • 4 tweets • 2 min read
#GoldenAgeofFraud
Maybe a16z backed Adam Neumann's non-existent company called Flow to pump the token of the same name that it's also invested in. Synergy.
In May, Neumann's tokenized carbon credits company, Flowcarbon, raised a $70m round led by a16z (which got equity and tokens). Now a16z is putting $350m into another Neumann company called Flow that's supposed to monetize the 3,000 apartments Neumann owns.
techcrunch.com/2022/05/24/flo…
This is incredible. Flowcarbon -- Adam Neumann's tokenized carbon credits company, for which a16z led an investment round in May -- was "paused indefinitely" last month.
businesscloud.co.uk/news/in-crypto…

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More from @SilvermanJacob

Jacob Silverman Profile picture
Aug 16
Learning about Belong, another a16z real estate play where they're buil -- I mean extract rents by being a platform intermediary.
techcrunch.com/2022/05/19/bel… Image
Seeing some VCs investing in "property management" or other ways to monetize existing housing stock w/o actually building. They often cite inequality and the housing shortage but never propose meaningful solutions, only businesses that can leverage current problems w/ tech gloss.
At a16z-funded Belong, when you rent, you can accumulate "Karma Dollars" in a "Karma Wallet" that can be used toward a down payment for an eligible home. Whenever things start being denominated in company scrip, it's a red flag.
belonghome.com/residents Image
Read 6 tweets
Jacob Silverman Profile picture
Aug 15
The anonymous European investor behind a $155 million lawsuit against Binance in the ICC has filed a second complaint against Binance in another European jurisdiction. The complaint accuses more than a dozen top executives -- including CZ -- of fraud, theft, and other crimes.
I can't offer more information about this complaint yet, but I expect more info to emerge. Here's the initial lawsuit, which I'm told is now demanding $155m in damages:
theblock.co/post/121865/eu…
There are a few ongoing legal claims against Binance, but it's been difficult (and expensive) for plaintiffs because the company has no official headquarters and operates through various subsidiaries, partners, and shell companies.
washingtonpost.com/outlook/2022/0…
Read 4 tweets
Jacob Silverman Profile picture
Aug 12
I guess it's a good time to read this
oversight.house.gov/sites/democrat… Image
Would you believe that the effort to transfer nuclear tech to KSA involved Michael Flynn? Image
Tom Barrack, too. Charged with being an agent of the UAE government and lying to the FBI, Barrack is currently wearing an ankle monitor so he doesn't flee the country. Image
Read 7 tweets
Jacob Silverman Profile picture
Jun 13
Ok so this does seem bad and can't be dismissed as FUD.
Basically it sounds like Celsius lacks liquidity to pay out withdrawals ("we are working diligently to meet our obligations"). Hard to see this situation improving.
24 hours ago the Celsius CEO challenged someone to name one person who had problems withdrawing from his platform. Today, he shut down all withdrawals for all customers.
Read 5 tweets
Jacob Silverman Profile picture
May 13
The amount of suicide talk on crypto twitter (and reddit and elsewhere) these last couple days is disturbing.
Crypto culture is toxic -- HFSP, bitcoin maxis, obsession with wealth, selfish, etc -- but we should reserve some sympathy for everyday people who have lost a lot, who took huge risks b/c they were financially desperate. The main villains are the people running the ponzi schemes.
Poor and working class people have crypto too. There's been a huge amount of affinity fraud and propaganda that this is a way out of financial distress. LeBron cut an ad saying it was the new path to generational wealth!
Read 5 tweets
Jacob Silverman Profile picture
Apr 22
Beautiful park day. All your friends are here.
The turtle count is quite high and rising.
Read 4 tweets

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