Inside Crypto Treasury Deals With Josh Lim

FILL OUT THE SURVEY BY CLICKING HERE Welcome back to The Gwart Show! Today, Josh Lim from FalconX joins us to talk about the massive boom in corporate crypto treasury vehicles. We talk about how these deals work, from management teams and investment bankers structuring vehicles to raise capital, to the 45-60 day liquidity windows and 2-6x NAV premiums investors are seeing. Josh explains the Michael Saylor playbook, yield strategies, and whether this trend is sustainable or headed for a crash. Subscribe to the newsletter! https://newsletter.blockspacemedia.com Notes: • Treasury vehicles see 45-60 day liquidity windows • Some trade at 2-6x NAV premiums currently   • $4 billion new Bitcoin vehicle announced recently • Circle IPO traded at $230 per share peak • MicroStrategy model being widely replicated • 3-5 month timeline for SPAC conversions Timestamps: 00:00 Start 00:46 Josh's background & FalconX 03:12 Arbelos Markets 04:03 Market overview 07:03 Digital asset treasury companies 11:07 Starting a treasury vehicle company 12:36 Hostile takeovers? 16:06 Deal structure 21:17 LOL "Management team" 23:09 ROI for investors 26:56 What's a healthy multiple? 28:19 Copy/Paste Strategy 29:32 Yield strategies 32:02 How does this fail? 35:40 Premium longevity 38:10 Out "Sayloring" Saylor, c'mon bro? 41:26 Alt Season go bye bye? 46:06 Trading on-chain, relic of the past? 49:30 24/7 trading 50:57 Prediction markets 53:24 Gwart's take on treasury companies 54:49 Josh's optimistic take 56:19 Circle IPO 57:29 Degen's gonna degen 59:05 Wrap 👋 Enjoy the clip? Click below to listen on a podcasting app! Apple http://tiny.cc/e7wuwz Spotify https://tinyurl.com/aj3ymv6h RSS http://tiny.cc/wbwuwz YouTube https://tinyurl.com/4kwhu4s7 👋 The Gwart Show is proudly presented by Ellipsis Labs! Ellipsis Labs is building foundational products in DeFi. Their first product @PhoenixTrade is the leading orderbook DEX on Solana. The team is growing—visit ellipsislabs.xyz for engineering opportunities. Learn more about your ad choices. Visit megaphone.fm/adchoices