Phoenix Digital Assets (gibraltar) Plc Share Price (PNIX.PL)

They are now going to relist on the Gibraltar Stock exchange. Sounds very dodgy indeed!

Thanks for this post. I expected such good news from this company so I thought I might have misunderstood what I was seeing when these results came out. Can't believe they would sell out of ETH!

Lol now they release a correction for for the most important detail of all, you could not make this sh*t up. Why would they pledge 147 btc in collateral when that is a massive amount valued at way in excess of the borrowing. If they legally own it why wasn't it included in interims? It's not hard to get this stuff right, should be such a simple debt free business but a number of things are not adding up here.

Worst part is the big lag between updates. I thought the were just bad at PR but it's now clear they reason they were so quiet is because they didn't want to draw attention to fact they were selling down - and doing so at year lows.

Since June, the market had no idea any of this was happening and was under the impression they held these btc all along, like any other normal btc treasury. It turns out that wasn't the case at all.

There are also discrepancies with the values given. The total values given against crypto holdings are misleading. If they have sold all these assets, where's the corresponding investment going? Where has the cash from those sales gone?

These are dreadful results and I'm not surprised by market reaction.

When every other treasury has been buying bitcoin, they were selling bitcoin at worst possible time. From 247 down to 99 as of June

To make matters worse they completely sold their Ethereum holdings in the first half of the year. Eth price since then has rocketed but they totally missed out.