The funniest thing about CT valuing blockchains based on cashflow is that we all fought the Gensler-era SEC tooth and nail to prove that blockchains, by and large, fail the Howey test
You did it, you achieved the desired regulatory categorization, AND you got to keep the benefits of purely speculative assets that have no quantifiable upper bound
Then, just after winning the battle, shedding blood, sweat, and tears along the way, you decided to.... start valuing them as securities?
Fate loves irony ig
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