Added to YB: 2024-06-21
Pitch date: 2024-06-20
DEFTF [bearish]
DeFi Technologies Inc.
+26.35%
current return
Author Info
The Bear Cave provides analysis, commentary, and curated links on the short world. Sign up for the newsletter.
Company Info
DeFi Technologies Inc., a technology company, develops exchange traded products that synthetically track the value of a single DeFi protocol or a basket of protocols in Canada.
Market Cap
CAD 476.1M
Pitch Price
CAD 1.48
Price Target
N/A
Dividend
N/A
EV/EBITDA
12.96
P/E
20.00
EV/Sales
4.32
Sector
Capital Markets
Category
N/A
Problems at DeFi Technologies - $DEFTF
DEFTF: Profitable Valour crypto ETPs AUM $870M, but risks from altcoins, competition, fees. Opaque counterparties, ~$106M loan to Cayman entity. 9 firms at 198 Davenport address down 50-99%. Changed auditors 2x in 18 months. CEO claims zero counterparty risk, but filings cite significant risk.
Read full article (7 min)