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60 sats \ 6 replies \ @gmd 5 Jan \ parent \ on: Stacker Saloon
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Odell's been very vocal about it recently and covers his concerns in the first segment of the latest Rabbit Hole Recap:
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Uploaded the youtube transcript to ChatGPT and asked for a summary of any drama with Swan and got this:
The drama discussed in the podcast regarding the company Swan centers around skepticism and allegations of misleading business practices. The hosts express concerns about a press release from Swan, which they say contains "insanely large numbers" regarding the amount of money deployed by Swan, numbers they have been unable to verify. They note that many people believe the hosts are heavily involved with Swan, which they are not. The hosts challenge the validity of Swan's claims, such as deploying $150 million and aiming to allocate $1 billion by 2025, especially in a bear market with venture capital funding dried up.
Additionally, there's suspicion around Swan raising $195 million without being able to identify any investors, coupled with claims of expecting to cross $200 million in annualized revenue in Q1 2024 and plans to raise an additional $150 million. The hosts call these numbers into question, as they do not add up based on their knowledge of the space and because Swan has not provided explanations or transparency.
There is also speculation that Swan's funds may be connected to Bitfinex Tether, which, if true, the hosts believe would add a significant amount of risk. Overall, the hosts see "red flags everywhere" and encourage others to speak up and demand accountability to maintain integrity in the community. They express a commitment to continue speaking out and sharing their perspective on the matter.