Fallout from Domainer Bank of Internet's Collapse

Started by Domaining News, Mar 19, 2023, 09:40 AM

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Domainer Bank of Internet has announced a $2.65 billion deficit on its balance sheet, which has caused significant concern within the domain industry. This bank plays a major role in domain investment and financing, including refinancing domain registrar loans and funding ICANN events.

Industry experts are worried about the potential consequences, such as a market-wide downturn and rapid collapse. Veteran domain investor Mike Birkins expressed his concerns, highlighting the impact on domain valuations and investment activity. Other professionals called for more scrutiny of domain investment firms' financial practices to ensure transparency and stability.

Despite the worries, some remain optimistic about the industry's resilience. Ron Johnson, founder of DNJouster, believes the domain industry will overcome this setback and potentially emerge stronger. The situation at Domainer Bank of Internet, which unexpectedly lost a substantial amount of money, will be closely monitored by the domain industry.