In the history of great rock & roll teammates, there’s Lennon & McCartney. On the baseball diamond we have Rizzo & Bryant. And then there are these 2 pals.
In business & life, sadly, many partnerships fail. In the ICO space last year, we saw this with so-called ICO “token swaps”. This was when 1 project that raised no money swapped their tokens out to another project for their worthless coins that also raised nothing. When you look at the carnage in the global crypto market last year, of course these turned out to be an unmitigated failure & disaster. There are a lot of hard feelings about what transpired. But in reality all these swaps were simply out-of-the-money options. Options are binary in nature – they either have no value or are infinitely of value. There’s no in between. (N.B.: most of these swaps were outside the US, therefore not under SEC jurisdiction.)
I guess what strikes me is how few people understand counter-party risk. Not to be critical, but a lot of techies simply don’t understand finance & trading; and the opposite is equally true.
When you consummate a trade under your own volition with a weak partner in horrific conditions, you shouldn’t be shocked when it implodes. And realize: you’re also probably a weak link as well. Keep trying: defeat is ephemeral.