Quote:
Originally Posted by glchen
This is what I am concerned about with PWCC's lending activities and using the Vault as leverage. Has anyone who uses Vaults checked on what happens if PWCC goes bankrupt? Can they take your cards and use it to pay off their creditors? This is what happened to some of the crypto firms like Celsius that went bankrupt. Folks who kept their crypto in those firms were not able to access their holdings anymore. If leverage like this is propping up card values, this may be what may ultimately cause the market to pop later.
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And this is a big reason why I'm guessing the vault services are provided by entirely separate companies than the related AH/sales companies. At least it now lets people know to ask these vault providers how their businesses are set up, and if they are independent and totally separate from other possibly commonly owned businesses. And by separate, I mean where there is not just one single business that owns and runs the AH/sales operation and the vault, or where one is a total or partially owned subsidiary business of the other. And you can have both businesses owned entirely by the same people, yet they ae still considered separate as long as the businesses themselves don't own any part of each other.
My guess is the operation lending people money on their collectibles may be set up as an entirely different/separate business and entity from the vault and AH/sales businesses as well. Would make some sense.