Coin Conglomerate After Release - Chapter 135



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The annual compensation rate of Acorn Coin is adjusted from the current 10.9% to 7.2%.

However, for the amount held by the end of the month, a 10.9% compensation rate is guaranteed for the next three years.

—-

Shortly after the unprecedented short-selling countermeasures presented by WHTS Company were released, surprised investors sold on virtual currency exchanges.

On the first day alone, more than 19% of the sales volume poured out, 26% on the second day, and 34% on the fifth day.

Acorncoin’s market cap reached $800 billion, so a 34% drop would mean $270 billion of investments had evaporated.

Internet communities and SNS, which are sensitive to virtual currency issues, as well as media outlets, poured out articles criticizing WHTS Company’s response.

However, the atmosphere at WHTS Company, the party to the controversy, was not calm, even calm.

Beep. Beep. Beep.

Dozens of graphs fluctuate on the extra-large screen on the wall of the situation room.

The graph shows the amount of Acorn Coin held by each exchange. Here, the short selling volume is treated as a negative number, so if there are a lot of short selling orders, the graph will go down.

Beep. Beep.

The graph seems to go down steeply, then recovers to the original point, stays still, then goes down again.

Then, when it goes below a certain point, an alarm sounds.

Beep beep!

There were more than 30 people in the situation room, but no one was surprised.

I’ve been going through a similar situation for over a week already, so now everyone seems to think so.

“CEO, it’s already 1 in the morning. Now you should go in and rest.”

Lee So-young approaches me and pushes me on the back.

She has been telling me to rest ever since I was in the hospital. While he himself had dark shadows under his eyes.

“I decided to make a video call with the exchange soon. I’ll go in when that’s over.”

“I’ll stay and take care of that.”

“If you need a technical explanation of virtual currency, you can do that, but this call is where trust is important.”

She stares at me with a disgruntled expression.

“It means I lack trust.”

“It is natural. Because I am the CEO of WHTS Company.”

“still… … .”

“If you don’t like that, So-Young can be the CEO. Seriously what do you think?”

Lee So-yeong was startled and quickly waved her hands.

“How do I represent the company? Please don’t make jokes.”

“There is nothing that can’t be done. Soyoung has the cause of being an early member, and she also has the core technology of virtual currency, right?”

“I still hate it.”

“Why?”

“It’s not someone else, it’s being the CEO’s successor. It’s obvious that I can’t even reach the CEO’s toes with decent performance, but if you think you’re being compared… … .”

Lee So-yeong hugs her upper body with both arms and makes a creepy expression.

“You see this? I just imagined it, but chicken meat came up on my forearm. In that case, I will resign.”

“That’s too bad. I was thinking of leaving Soyoung at work and going out to play.”

“Where are you trying to escape? I will sit you down as the lifelong CEO of the WHTS Company for the rest of your life.”

After the two of them were exchanging silly jokes, it was time for a video call.

Go to the meeting room where the call equipment is prepared and answer the phone. Everyone on the exchange side was already waiting for me.

-Hello, Mr. Shin. What brought us together?

– Why are people in such a hurry? Sometimes we can get together and talk. Is there anything you’ve been thinking about?

-Is it a small thing for me now?

-This is what I said to the thief whose feet were numb.

Different voices pour out of the monitor.

At first, it started with greetings and small talk, but later it spread to a fight between rival exchanges and became more sh*t.

Beep.

I deliberately turned up the volume of the mic to make a sound.

“If you want to chat among yourself, I will arrange a separate table for you.”

With just one word, the fuss subsides like a lie. Thanks to this, I was able to proceed with the call in a quiet state.

“I am sure you are wondering why I set up a meeting with you. It’s nothing to be particularly nervous about, so please feel free to listen.”

I told him to listen comfortably, but it was just a formal comment.

I kept my smile on my face and lowered my voice.

“Recently, there have been absurd rumors circulating in the cryptocurrency industry. It was an absurd rumor that the WHTS Company would soon request a ban on short selling.”

Exchange representatives exchange glances. They want to say something, but they seem to be procrastinating.

Then, the CEO of Coinstar, the third-largest exchange, takes the lead.

-that is… … Are the rumors true?

“Of course it is nonsense. If we forcibly block short selling at this time, isn’t it the same as saying that the company is in crisis?”

-I’m glad then… … .

I interrupted him by tapping the microphone.

“I think it is possible for speculative rumors to come from the outside. However, I think there is a problem with the exchange even riding on that atmosphere.”

Among the 8 representatives of the exchange connected by video call, he picked and said one.

“Peter Chang, CEO of Cointoss, wrote on social media that he needed a new virtual currency to replace Acorn Coin.”

-Oh, you misunderstood. I didn’t mean to.

“Then what was your intention when you wrote it, please tell me in detail.”

– It meant to be prepared for emergencies, but it never meant that a new coin had to be created.

The news that the exchange is already creating a new virtual currency to replace the acorn coin was an open secret in the virtual currency industry.

I had been ignoring it until now, but if I showed it too openly, I needed to step on it in moderation.

“It is wrong for the CEO of the exchange to make a statement that could sound misunderstood.”

-This case… … It was a mistake.

“Whether it’s a misunderstanding or a mistake, if something similar comes to my ears one more time, I have no choice but to penalize it.”

If Acorn Coin, the number one cryptocurrency by market cap, stopped trading, it would inevitably be a blow to the exchange.

Perhaps that is why the CEO of Cointoss quickly lowered his head and apologized.

– It seems I was careless. We will make sure this doesn’t happen in the future.

“It is not something that CEO Peter Chang will apologize for. I didn’t say it, but I heard there were similar moves on other exchanges.”

Clearing the throat pours out among the silent exchange representatives.

Everyone is desperately busy avoiding my gaze.

“Anxiety that Acorn Coin will collapse like K-Star Coin is probably what caused the current situation. However, I will show you here that such worries are unfounded.”

I displayed the prepared chart on the video call screen.

It was a chart that clearly summarized the amount of acorn coin short selling accumulated on each exchange.

“As you can see, the volume of short sales has decreased significantly since the beginning of the crisis. If this trend continues, all transactions will be normalized within this month.”

-Are you saying that the short sellers gave up their attacks?

“Rather than giving up, it wasn’t Acorn Coin that they were aiming for from the beginning.”

-What do you mean by that… … ?

Go to the next chart. This time, it was not a cryptocurrency chart, but a stock chart of Tesla Motors.

“The short sellers were aiming for Tesla Motors from the beginning and shook the cryptocurrency market. As proof of that, Tesla Motors is receiving 10 times more short sales than usual.”

The representatives of the exchange all looked as if they had chewed on an astringent persimmon.

If the information I said is true, the exchange was playing the trick of the short seller.

“If this situation is passed on as it is, the virtual currency industry is likely to be looked down upon in the future.”

Many nod their heads in agreement.

“So that’s what… … I prepared a sauce that I can give them a shot.”

– What is it?

“There is a 3Q conference call from Tesla Motors soon. A very special announcement will be made at that time.”

No one seemed to know what this meant here.

I deliberately smile and conclude.

“If you are interested, please prepare in advance.”

* * *

Tesla Motors’ third-quarter earnings announcement drew more attention than ever before.

From noble mtl dot com

The inevitable thing is that Tesla delayed the release of electric vehicles several times this year, and was scheduled to record a record deficit due to excessive facility investment and overseas expansion.

In addition, the issue of WHTS Company, the largest shareholder, has been added.

If there were no significant positive news from this earnings release, Tesla Motors’ share price would have been slumped.

“You have five minutes left.”

John Soros was waiting for Tesla Motors’ conference call that was about to begin.

As he mumbles to himself, the middle-aged people sitting next to each other clink glasses and chatter.

“It’s as if Tesla Motors has five minutes left.”

“Hey, Danny. How much did you put in the short sale, so you grinning so much?”

“Two million shares.”

“Oh! You’re going to treat me today.”

Middle-aged people are colleagues who were with Soros in the past.

At that time, everyone was a trader, but now they were holding the CEO or chairmanship of a famous investment company.

Soros, who has been listening to their story all along, throws out a word.

“But there are no absolutes in this world.”

“Why are you like this? There is no hope for Tesla Motors at the point where short selling stocks have accumulated 60 million shares.”

“hmm. I’m glad then… … .”

The other party was talking about the orthodoxy, but Soros still couldn’t shake off his feelings. This is because Tesla Motors’ share price has been unusually stable recently.

‘It is true that individual investors own a lot of Tesla Motors. Still, how can the stock price be fine when the amount of short selling is pouring this much… … hmm… … .’

While Soros was lost in his thoughts for a while, Tesla Motors’ earnings announcement began.

-Hello, I am George Lloyd, CFO of Tesla Motors. I would like to express my gratitude to all of you who showed interest in Tesla Motors and attended the conference call amidst your busy schedule. Let’s start the conference call to announce the third quarter 2017 results.

The conference call, which was conducted by voice call, started with a normal content, no different from usual.

As for the announced third quarter business results, as everyone expected, a loss due to overinvestment was announced, and the fourth quarter was also gloomy that electric vehicle shipments were expected to be delayed.

“At this point, you should consider that Tesla is over, right?”

“I know. There is nothing special about it. I thought at least one would come up with something.”

While the reaction of the end was coming out, Tesla Motors suddenly replaced the speaker.

-Nice to meet you. I’m Daniel Shin from WHTS Company. From now on, I will proceed with the conference call of Tesla Motors.

Soros, who was drinking water, almost spewed water. His appearance was an unexpected and surprising event.

“Daniel Shin? Why is he here?”

“The virtual currency side said the situation was bad, so did you come to the town hall?”

“Listen for now.”

The others were equally perplexed. Everyone straightens their posture and waits for his next remarks.

-I am here to present the long-term vision of Tesla Motors.

-do not misunderstand. The current Tesla electric car is also excellent enough. However, if it can become more elegant and more emotional, Tesla Motors can be upgraded one step further.

It is a series of puzzling remarks. Soros and his colleagues, who were listening, look at each other and shrug.

-Upgrading is not something you can do alone. You need a partnership with the right company.

-Elegant yet emotional company.

-Where would you like to go? I didn’t even have to worry. The name of the company was already in my mind.

The sound of a deep breath.

Then, all at once, a voice pours out.

– Tesla Motors will formally propose all technical partnerships with Apple.