…as just another racket, in remarkably quick fashion. Like some other bygone neo-techno paradigms such as “the Automobile,” “Healthcare” and “the Internet,” the Finance industry’s Crypto wing represents alot of money looking for somewhere to be spent. As usual, eager entrepreneurs rush to cash in both legitimately and otherwise, before it’s safe and/or ready for prime time.
In Genesis’ case, investors have been put off by a lack of clarity over the size of the cash injection necessary to plug the hole, says David Bailey, CEO at Bitcoin Magazine, who also leads an activist group that represents the interests of investors in Grayscale Bitcoin Trust, a DCG subsidiary. He describes the shortfall as “massive and unknown in scope.”
