This Week in Startups Tether: Crypto’s Black Swan? Plus Alternative Asset Roundtable featuring the founders of Masterworks, Fundrise & Rally Rd | E1232
Jun 15, 2021
In this discussion, Chris Bruno (Rally Rd), Scott Lynn (Masterworks), and Ben Miller (Fundrise) dive into the fascinating world of alternative assets. They tackle the controversies surrounding Tether, exploring its implications and risks, drawing alarming parallels to financial fraud. The trio discusses the booming markets for art, collectibles, and real estate, emphasizing the importance of diversification in investing. They also highlight how platforms are revolutionizing access to these assets amidst changing investor behaviors.
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Tether Investigation
- Jason Calacanis expresses concern about Tether, drawing parallels to past scams like Nikola and Theranos.
- He announces a crowdsourced investigation into Tether's legitimacy, inviting listeners to participate.
Tether's Troubling Growth
- Tether, claiming to be a stablecoin pegged to the US dollar, has the third-highest market cap in cryptocurrency.
- Its rapid growth and alleged use by unregulated exchanges raise concerns about potential market manipulation and fraud.
New York Attorney General Investigation
- An investigation by the New York Attorney General revealed Tether's parent company, iFinex, allegedly covered up financial losses.
- This raises serious questions about Tether's solvency and transparency.