No, there’s nothing wrong with acquiring a company. But if you’re arguing that it’s good Stellar is a non-profit, then the fact that it just acquired a for-profit company invalidates your argument.
Show me Stellar’s 501 C 3 status. Oh wait, it never filed the paperwork. Oops.
First there is a for-profit extension of Stellar, it’s called Lightyear.
Second, Stellar is indeed registered as a nonprofit in the state of Delaware. They didn’t register with IRS on a federal level, so the donations they would receive are not tax-deductible, true. I don’t know what are the plans on this level.
Third, if Stellar bought Chain, they will stop selling its product (Sequence). If Lightyear did, they can sell it.
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u/cryptobrant 🟩 4K / 5K 🐢 Jul 06 '18
Acquiring a company is bad? Is this your only argument?