Longfin had a Reg A+ IPO on December 13, 2017, originally at a $382.5M market cap which ballooned to its $3.27B market cap today from its acquisition of Ziddu.
Ziddu, a cryptocurrency microlending company, has a business model that doesn’t make sense because Ethereum is too volatile to use for loans.
Ziddu.com’s website history shows that Ziddu coin is only a basic ethereum token and wallet that got rebranded by Longfin in December 2017 as a microlending story.
Longfin recently engaged in dilutive financing with Hudson Bay Capital, a fund known for financing microcap, speculative companies that most funds would not invest.
Longfin’s company headquarters in New York City is a WeWork shared office space for fledgling entrepreneurs.
Longfin had a Reg A+ IPO on December 13, 2017, originally at a $382.5M market cap which ballooned to its $3.27B market cap today from its acquisition of Ziddu.
Ziddu, a cryptocurrency microlending company, has a business model that doesn’t make sense because Ethereum is too volatile to use for loans.
Ziddu.com’s website history shows that Ziddu coin is only a basic ethereum token and wallet that got rebranded by Longfin in December 2017 as a microlending story.
Longfin recently engaged in dilutive financing with Hudson Bay Capital, a fund known for financing microcap, speculative companies that most funds would not invest.
Longfin’s company headquarters in New York City is a WeWork shared office space for fledgling entrepreneurs.
Read full article on Seeking Alpha here.
