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“Without the need to trust a third party middleman, money can be secure and transactions effortless.”
— Satoshi
Property rights are not sacrosanct in traditional finance.
Even in the US stock market — where shareholder rights are treated with near-religious reverence — a company’s management can sometimes forcibly divest an unwanted shareholder of their shares.
In 2009, for example, the struggling software firm Selectica used a poison pill defense to cut a single shareholder’s stake in half.
When the pill was triggered, all shareholders other than Versata, a hedge…
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