Post by
arh0070 on Mar 02, 2023 12:45pm
Contagion/Silvergate
Silver gate which is a bank involved in Crypto and I think involved the Crypto world announced it is not filing its annual report on time .Stock tanked today and I think Coinbase is stopping doing business with them .
Coinbase released its quarterly results recently ,still massive losses but less than the previous quarter.
Meantime BNXA seems unable to produce financial reports due to the "audit" which never seems to be completed .
Voyager shareholders have agreed to Binance taking over what remains of Voyager after its bankrupcy.
I am out of all Cryptos and Banxa and Coinbase .Had a fantastic run during the bull market but the current bear market is just too risky to navigate .
May eventually get back in when things improve ,doubt it will be this year the way its going .
No information from BNXA about its cash reserves or cash burn rate ,supposedly they enough to last a year .
Shareholders are powerless with he stock delisted ,only way to resolve this would be employing a shareholder lawsuit which is common in the US but not so much in Canada and is more difficult and expensive there .
Can't imagine that bnxa will ever be allowed to get a Nasdaq listing given what has transpired.
If BNXA survives Carosa needs to go .