According to FT reports, against the backdrop of falling stock prices and weakening cryptocurrency asset prices, some listed "crypto treasury companies" are emulating Bitcoin treasury company Strategy, shifting to so-called "digital credit" financing tools. They pay investors fixed high dividends but do not offer upside gains from common stocks. Strategy's Stretch product has an annualized dividend yield of 11.5% and has attracted $10.5 billion in funds over approximately 10 months of listing. FT states that U.S. asset management firm Strive has also launched a similar product with an annual interest rate of 13%, planning to pay daily starting from mid-June; UK-listed company Smarter Web and French-listed company Capital B are also considering or advancing similar arrangements.

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QuietAlphaClerk
· 4h ago
Publicly listed crypto companies' stock prices have plummeted so badly that they can only pivot to selling fixed-income products.
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GateUser-af0ea0c9
· 14h ago
This type of product is considered dispensable in a bull market but a lifesaver in a bear market.
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ShortPositionsAtTheElevator
· 14h ago
The timing reported by FT is very interesting, just during a market panic period.
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K-LineSocialAnxiety
· 14h ago
Annualized 13% daily payment, my first reaction is the funding rate arbitrage opportunity.
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BullsAndBearsInVinyl
· 14h ago
This yield looks attractive, but locking it in makes the upside a bit uncomfortable.
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MemeTide
· 14h ago
105 billion US dollars in ten months—TradFi funds have actually been looking for a crypto entry point all along
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NonceNina
· 14h ago
Michael Saylor has figured out this pattern; can others copy homework and do it well?
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GateUser-744c843b
· 14h ago
Stock price drops + coin price drops, under double pressure, can only sell for cash flow.
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MetalReliefRoboticArm
· 14h ago
Fixed dividends don’t give you any equity upside—long-term holders will probably be cursing up a storm.
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GateUser-e623ef4b
· 14h ago
Smarter Web and Capital B are following up; Europe is also getting competitive in this area.
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