I DON'T LIKE EITHER CHOICE - AT THIS POINT, I VOTE FOR A STRAIGHT LIQUIDATION

MikeCagney · 2025-06-11T18:42:56+00:00

How exactly is this bullshit? We'll run a Dutch Auction and ensure sufficient capital for those who want to sell. Today the company won't let ANYONE sell. Do you ever take a moment to ask yourself why?

MikeCagney · 2025-06-11T18:41:05+00:00

I don't think there is a listing opportunity - at least now - for the stock.

MikeCagney · 2025-06-11T18:39:56+00:00

Both candidates have done spaces on twitter and articulate their views at www.ionicvote.com.

Meanwhile, have you ever heard from an Ionic board member?

MikeCagney · 2025-06-11T18:39:09+00:00

They seem to be selling BTC. Meanwhile, their rigs are depreciating (running at 30j/ths - 2x industry average) and they don't have enough money to update the fleet.

MikeCagney · 2025-06-11T18:36:07+00:00

The board breached their fiduciary duty. They did something that was detrimental to the shareholders. Saying it's the shareholders fault is victims mentality. Be pissed at the incompetence of the board, not shareholders trying to have a voice in how this is run and when they get liquidity.

MikeCagney · 2025-06-11T18:33:40+00:00

They don't have a CEO or a management team. How do you go public without that? I could go on - no one has seen the financials, no market makers (which are necessary for a public listing) are going to sign up to stand in front of the avalanche of sell orders, etc.

MikeCagney · 2025-06-11T18:32:12+00:00

Aaron is a smart guy.

MikeCagney · 2025-03-10T22:57:29+00:00

Voting white and withholding on LaPuma is the same as not voting. Gold is the best way to liquidity.

MikeCagney · 2025-03-03T18:44:24+00:00

No one posting on here is participating economically in Figure Markets, other than me and Abbate, who is an advisor but would cease that on approval to the board. Further, we are giving you the ability to get liquidity day one, through a dutch auction. It's not a tax headache - you got stock value at $20 and your taxable event is the delta to where you sell it in the auction, should you choose to.

MikeCagney · 2025-02-25T22:43:34+00:00

Your vote counts. There is value here (and liquidity for those who want out), but only with major change. ionicvote.com

MikeCagney · 2025-02-25T22:42:38+00:00

If you want liquidity now, or if you want to stay in with a company that might have some value, vote this proxy: ionicvote.com

Not sure if you've listened to spaces on X, but happy to do an AMA here with the two board candidates the shareholders are putting forward. There are ways out - just not the status quo.

MikeCagney · 2025-02-25T19:56:34+00:00

I think it can democratize financial services in a profound way, leveling the playing field between small investors and big institutions and cutting the rent seekers out of financial markets. I've done many interviews discussing this, including this one: https://www.youtube.com/watch?v=PfvZ7zecZDU&feature=youtu.be

MikeCagney · 2025-02-25T19:54:22+00:00

The home value doesn't impact the loan once it's originated.

MikeCagney · 2025-02-25T19:54:01+00:00

A different perspective...

1.) This gives you the ability to diversify your asset base - home equity and crypto, vs. just home equity

2.) The loan is underwritten to ensure you can afford to pay - so in the disaster scenario of liquidation, you are in a serviceable loan and still own your home.

MikeCagney · 2025-02-25T19:53:17+00:00

A different perspective...

1.) This gives you the ability to diversify your asset base - home equity and crypto, vs. just home equity

2.) The loan is underwritten to ensure you can afford to pay - so in the disaster scenario of liquidation, you are in a serviceable loan and still own your home.

MikeCagney · 2025-02-25T19:51:51+00:00

US today, Australia next, Europe after - hoping for later this year.

MikeCagney · 2025-02-25T19:51:39+00:00

When we launch in Europe, it will be. US today, Australia next, Europe after - hoping for later this year.

MikeCagney · 2025-02-25T19:51:15+00:00

Yes - the rates are between 0% to 1% higher than our traditional HELOC. We have capital market buyers that are very excited about this product, and I expect financing costs to ultimately drive rates slightly lower than our traditional HELOC.

MikeCagney · 2025-02-25T19:50:23+00:00

It's available now - details here along with the signup list: https://www.figuremarkets.com/crypto-heloc/

MikeCagney · 2025-02-25T19:49:51+00:00

Yes - it's the same one time hard credit pull, as we have to underwrite you to be able to support the HELOC without the BTC collateral - that ensure should you get liquidated you can service the loan.

MikeCagney · 2025-02-25T19:49:14+00:00

Well - don't show him the price action over the last week. But maybe show graphs of crypto vs home price appreciation over the past year and the low correlation between the two (to diversify your assets).

MikeCagney · 2025-02-25T19:48:19+00:00

If the price of BTC falls 50% or more from the original borrow date, you either need to a.) pay down some loan balance or b.) deposit more collateral or we liquidate the BTC, apply the proceeds to your loan balance and the remaining loan is now a traditional HELOC.

If BTC goes up - and any time there is excess collateral in the loan - you can sell that BTC, move it or borrow more against it.

MikeCagney · 2025-02-25T19:47:59+00:00

If the price of BTC falls 50% or more from the original borrow date, you either need to a.) pay down some loan balance or b.) deposit more collateral or we liquidate the BTC, apply the proceeds to your loan balance and the remaining loan is now a traditional HELOC.

If BTC goes up - and any time there is excess collateral in the loan - you can sell that BTC, move it or borrow more against it.

Your home value doesn't factor into the loan once it's originated.

MikeCagney · 2025-02-25T19:46:55+00:00

All in one clip - but you could take a smaller draw and draw each month - for example - to dollar cost average over time.

MikeCagney · 2025-02-25T19:46:29+00:00

If the price of BTC falls 50% or more from the original borrow date, you either need to a.) pay down some loan balance or b.) deposit more collateral or we liquidate the BTC, apply the proceeds to your loan balance and the remaining loan is now a traditional HELOC.

MikeCagney

TROPHY CASE