PANews reported on August 31st that, according to Cointelegraph, Josip Rupena, CEO of lending platform Milo and former Goldman Sachs analyst, stated that the risks posed by Bitcoin and cryptocurrency funding companies are similar to those posed by collateralized debt obligations (CDOs), securitized housing mortgage baskets, and other types of debt that triggered the 2007-2008 financial crisis. Crypto finance companies hold bearer assets without counterparty risk, but they introduce multiple layers of risk, including corporate governance, cybersecurity, and the company's ability to generate cash flow.