"Kyle and the folks at Multicoin have had the kind of ugly breakup that I probably haven't had since college"
Austin on the ugly split between Kyle Samani and Multicoin
"It's pretty obvious that Kyle and the folks at Multicoin have had the kind of ugly breakup that I probably haven't had since college. Both sides hate each other, they're throwing punches back and forth, they've materially diverged on thesis"
"He left with the affiliation with a Solana DAT, and Multicoin got significantly into Hype. I will gently say that one feels personal"
"I would suggest on an investment basis, Hype appears to be winning"
🚨 THREAD: Anthony Pompliano could make as much as $400 million from ProCap.
And if the stock drops — even if it plunges 75% — he could still make tens of millions.
At Unchained ( @Unchained_pod ), @Steven_Ehrlich ’s investigation reveals a compensation structure raising serious questions among PIPE investors now facing steep losses.
1/4
Pomp's firm received 10 million shares. The current value of its shares is $97.85 million, for a four-year consulting agreement, with zero performance benchmarks required.
No target share price. No bitcoin yield requirements. Just $24.5M annually.
But that's only the beginning.
2/4
He's also eligible for an additional 8 million shares that could net $299M if ambitious price targets hit.
And if terminated without cause? $10M cash bonus.
One investor's concern: "Even if you assume ProCap trades at $5,” — a loss of 50% for investors — “‘he’s getting $50 million."
💥 ICMYI: There's a hiccup in negotiations over the House crypto market structure bill, the CLARITY Act.
tl;dr
Republicans and Democrats proposed standard language banning conflicts of interest for POTUS, VPOTUS, Members of Congress and their families.
Trump's team said no 👀
As you probably know, Trump's many crypto business ventures have been a sticking point for Democrats and held up the progress of the Senate GENIUS Act for stablecoins.
For the CLARITY Act, House Republicans are aiming to get support from an even greater number of Dems than the 71 that supported FIT21 last year.
Will Coinbase’s goals for joint market structure and stablecoin bills delay the passage of stablecoin legislation? 👀 Many industry insiders are concerned. 🤔
🧵 👇🏻
Lobbyists and executives for Coinbase are pushing Congress to pass stablecoin legislation simultaneously with a yet-to-be drafted bill on the overarching regulatory structure for most other crypto assets.
“At the end of the day, we do think it’s important to have all of this legislation pass into law at the same time or roughly the same time, because we don’t want to create gaps or holes in the market,” says Kara Calvert, Vice President of US Policy at Coinbase.
EXCLUSIVE:
With the publication of my book today, I can finally announce: in the course of writing my book, my sources and I believe we uncovered the identity of the Ethereum's 2016 DAO hacker.
@winklevoss Cameron, I respectfully have to strongly disagree with you here. Fact checking is to help people uncover the truth. Censorship is to cover up the truth.
@winklevoss If "facts" are editorializing, why did you go to Harvard? If nothing is knowable, what is the point of seeking knowledge?
@winklevoss We in the US enjoy the enormous privilege of freedom of speech. We do not live under anything close to a censorship regime. Look at life in China, North Korea. THAT's censorship.