🤑 Flying Tulip’s $200M Magic Carpet Ride: Cronje’s Latest Stunt! 🚀

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Well, butter my biscuit and call me a wizard! 🧙‍♂️ Andre Cronje’s latest brainchild, the Flying Tulip (because why not name it after a flower that’s probably just as stable as this venture? 🌷), has somehow convinced folks to toss $200 million its way. Yep, you read that right. Two hundred million clams. In a private funding round, no less. And they’re not done yet-they’re planning an on-chain public sale of their FT token at the same valuation. Because, you know, why not let the masses in on the fun? 🎢

Apparently, this tulip isn’t just flying-it’s aiming to be the Swiss Army knife of digital assets. 🛠️ A native stablecoin, spot and derivatives trading, and even on-chain insurance all rolled into one. Because nothing says “efficiency” like cramming everything into a single system. Except maybe a clown car, but that’s a different kind of circus. 🎪

🤑 $200M for a Tulip? Someone’s Been Drinking the Kool-Aid! 🍹

So, Flying Tulip-Cronje’s newest “let’s see if this sticks” project-has raked in $200 million in a private round. And they’re opening the doors for a public sale of their FT token at the same price. Based in New York, this startup announced its grand plans on September 29, promising a complete on-chain trading platform. Because, clearly, the world needed another one. 🌍

Their master plan? Combine a native stablecoin, money markets, spot and derivatives options, and insurance into one system. And then-here’s the kicker-link it all with cross-margin to make capital “more efficient.” Because nothing screams efficiency like a financial Rube Goldberg machine. 🤹‍♂️

Oh, and the public sale? It’s going to be on-chain across several networks. Because why make things simple when you can make them complicated? Details like supported assets, circulation amounts, and contract addresses will be posted on their website to minimize phishing risks. Because, you know, phishing is so last season. 🐟

Their goal? Raise $1 billion in total, with up to $800 million offered to the public. Because if you’re going to dream, dream big. Or delusional. One of the two. 🌙

🔥 Burn Baby Burn: Redemption Rights Without the Drama? 🔥

Here’s the real head-scratcher: Flying Tulip is offering a perpetual on-chain redemption right. That’s right-if you buy FT tokens, you can burn them at any time and get your original contribution back. Because who doesn’t love a safety net? 🤸‍♂️

But wait, there’s more! A segregated on-chain reserve will handle these redemptions, funded by the raise. And don’t worry, there’s a queue and rate-limit mechanism to keep things solvent and prevent shenanigans. Because nothing says “trust us” like a system designed to stop abuse. 🚫

FT tokens will be non-transferable until the public sale ends, which should keep those pesky arbitrage traders at bay. And the team? They’re not getting any tokens at launch. Instead, they’ll buy them back on the open market using protocol revenue. Because nothing says “we believe in this” like buying your own tokens. 🛒

🏦 Institutional-Grade or Institutional-Gimmick? 🏦

Flying Tulip’s got a fancy list of backers, including Brevan Howard Digital, CoinFund, and FalconX. Founder Andre Cronje claims their goal is to provide “institutional-grade market structure with on-chain guarantees and clear alignment between users, investors, and the team.” Which sounds impressive until you remember this is the same guy who’s famous for, well, let’s call it “creative” project management. 🎭

“Our goal is to provide institutional-grade market structure with on-chain guarantees and clear alignment between users, investors, and the team.”

They’ll disclose all the juicy details-chains, assets, initial float, and sales contracts-before the public sale. Because transparency is key, unless you’re a magician. And let’s be honest, Cronje’s more of a magician than a financier. 🎩

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2025-09-30 16:00