Will Strategy Be Crypto’s Next FTX? Here’s Why Vinny Lingham Thinks So

Description

Vinny Lingham, co-founder of Praxos Capital, called Strategy's unraveling 18 months ago. He argues it is not a Ponzi but a 'Saylor scheme,' explains how a stack of failed preferreds and big banker commissions kept it funded, and shows why the reflexive loop between MSTR and Bitcoin only works on the way up. Host: Laura Shin, Founder, CEO and Host of Unchained - https://x.com/laurashin Guest: Vinny Lingham - Co-founder of Praxos Capital - https://x.com/VinnyLingham This clip is from a longer conversation on Strategy, Michael Saylor, and the risks to Bitcoin. Full episode here: https://youtube.com/live/iCyHCXVxACE We go live every week - subscribe to catch it live. Sponsors 👉 Fidelity: Fidelity has been building in crypto and DeFi since 2014 — now they're hiring. Explore career opportunities at one of the most forward-thinking names in finance here: https://crypto.fidelitycareers.com. Chapters 🔮 00:09 Why Vinny says the collapse was predictable from October 2024 🪙 00:48 'It's not a Ponzi, it's a Saylor scheme' of stacked preferreds ♟️ 02:29 Why STRC can't return to par and the zugzwang trap 🩸 03:31 How the 32-Bitcoin sale and 2029 buyback blew the runway ₿ 04:42 What a deeper bear market does to the '30 years of dividends' claim 🌀 06:11 The reflexive loop: how buying Bitcoin pumps MSTR _______________________________________________________ #bitcoin #ethereum #crypto #cryptocurrencies ++++++++++++++++++++++++++++++++++++++++++++++++ Subscribe to our channel! Website → https://unchainedcrypto.com Unchained Daily Newsletter (FREE!)→ https://unchainedcrypto.beehiiv.com/subscribe/ Unchained X → https://x.com/unchained_pod Apple → https://podcasts.apple.com/us/podcast/id1123922160?ls=1 Spotify → https://open.spotify.com/show/1cJrrfGY1SKBIRn5noKSAf?si=6SI4qIcRTEO7EhOe0V9n4w RSS Feed → https://feeds.megaphone.fm/LSHML4761942757 Unchained: Your no-hype resource for all things crypto!