Aug. 17 at 11:10 PM
$STEX is this good timing to enter or wait for further retrace ?
What actually happened this quarter
Streamex recognized its first-ever revenue:
$146K in gold lease income tied to GLDY, its yield-bearing tokenized gold product. Management framed Q2 as the “build the distribution” quarter — five institutional partnerships (Orca for trading, Siebert/tZERO for brokerage, EisnerAmper for attestation, Inspira for custody, Wintermute for liquidity) rather than asset growth. GLDY AUM was essentially flat at ~3,111 oz.
Balance sheet is solid
$41.8M total liquidity, no debt,
$32.8M working capital. Only ~
$19.5M is immediately liquid though —
$5M is loaned to Wintermute (locked 365 days), and the Metalayer stake is locked until Sept 30. Burn rate ~
$1.1M/month adjusted, giving a multi-year runway even with zero revenue.