


Stuart
2.1K posts

@StuartC_DX
Crypto Investing and Trading | CIO at Deus X Capital







Everyone sees “$22bn valuation” headlines and assumes that’s the real price. It’s not. Late-stage venture rounds are often loaded with liquidation preferences, ratchets, and other protections. The new money isn’t taking common equity risk - it’s getting paid back first. If the company exits below that headline number, those investors still get their capital (sometimes more) before common sees anything. In some cases, you even get anti-dilution that further crushes earlier http://holders. So what looks like “equity at $22bn” is often closer to structured capital - think debt with equity upside. Meanwhile, people are buying common on secondary platforms at “discounts” to these marks… without realizing they’re sitting behind a stack of preferred that fundamentally changes the payoff. Headline valuations ≠ economic reality. Kalshi raises over $1 billion at $22 billion valuation in ongoing Coatue-led round: theblock.co/post/394498/ka…


Sorry I know this might trigger some, but please try your best to answer. This matters, especially if you live in Iran. Q: After the damage caused by Iran to GCC countries, when the time comes, how should reparations be paid by Iran to the GCC countries?



Authorities in Dubai confirm the success of all air interception operations, with no injuries reported. Please rely on official sources for updates.






