🎉 #Gate Alpha 3rd Points Carnival & ES Launchpool# Joint Promotion Task is Now Live!
Total Prize Pool: 1,250 $ES
This campaign aims to promote the Eclipse ($ES) Launchpool and Alpha Phase 11: $ES Special Event.
📄 For details, please refer to:
Launchpool Announcement: https://www.gate.com/zh/announcements/article/46134
Alpha Phase 11 Announcement: https://www.gate.com/zh/announcements/article/46137
🧩 [Task Details]
Create content around the Launchpool and Alpha Phase 11 campaign and include a screenshot of your participation.
📸 [How to Participate]
1️⃣ Post with the hashtag #Gate Alpha 3rd
Wall Street's big short warns: Bitcoin treasury frenzy may repeat SPAC crash tragedy
On July 18, according to reports from Block Rhythm, Wall Street's well-known short positions investor Jim Chanos has sounded the alarm on the hot phenomenon of corporate Bitcoin treasuries. Chanos likened it to the frenzied SPAC (special purpose acquisition company) wave of 2021 — during which $90 billion was raised in just three months, only to end in a disastrous crash.
But this time, what is different is that the listed company is acquiring Bitcoin by issuing convertible bonds and preferred shares, without engaging in any other substantial business.
"What we are seeing in the Bitcoin treasury market now is eerily similar to the frenzy of SPACs in 2021," Chanos said this week on a podcast, "Almost every day there are substantial announcements - 'hundreds of millions every night.'"