[GUEST ACCESS MODE: Data is scrambled or limited to provide examples. Make requests using your API key to unlock full data. Check https://lunarcrush.ai/auth for authentication information.]

![ImperiumPaper Avatar](https://lunarcrush.com/gi/w:24/cr:twitter::1412230982795673607.png) PaperImperium [@ImperiumPaper](/creator/twitter/ImperiumPaper) on x 7229 followers
Created: 2025-07-21 21:54:04 UTC

@GoneMultichain All of these depend on capital structure. Strategy (at least until recently, haven’t dug into it now) and the Ethena company have structures that can probably withstand negative equity. I don’t know enough about Ether Machine et al to know their financing terms


XX engagements

![Engagements Line Chart](https://lunarcrush.com/gi/w:600/p:tweet::1947414802122354903/c:line.svg)

[Post Link](https://x.com/ImperiumPaper/status/1947414802122354903)