$82,001.00
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-0.87%$0.99995
0.01%$0.162729
-3.80%$0.638163
-5.46%$0.233222
1.31%$1,803.82
-1.45%$81,985.00
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2.62%$9.11
-5.75%$13.14
-3.92%$0.263261
-2.00%$0.999571
-0.04%$2,160.82
-1.41%$18.55
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-3.92%$2.20
-6.92%$0.158221
-7.57%$81.79
-4.75%$6.23
-2.25%$4.01
-1.95%$297.16
-2.86%$4.43
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-0.03%$1.00
-0.03%$1,804.15
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-8.38%$12.72
1.41%$1,918.01
-1.48%$28.21
-0.27%$215.52
-0.13%$5.84
-2.09%$5.17
-2.44%$2.52
-6.51%$1.045
0.00%$0.00000696
-1.20%$47.59
-2.23%$22.03
-1.73%$0.098452
-6.90%$81,966.00
-1.20%$33.20
-4.94%$0.780542
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-0.10%$16.62
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0.09%$10.07
-0.67%$1.00
0.00%$0.02234915
-2.83%$4.26
-1.30%$216.32
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-5.05%$3.13
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-0.85%$81,950.00
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-3.15%$0.467827
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0.41%$81,787.00
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1.87%$1.045
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-0.14%$0.403194
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8.55%$0.526668
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0.36%$1.00
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0.03%$0.801587
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1.93%$1.00
0.04%$0.855642
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0.55%$2.18
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0.13%$31.19
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5.13%$158.16
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11.07%$0.00005733
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0.03%$135.55
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0.02%$0.492462
4.22%$1.67
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0.02%$28.10
0.52%$2.88
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0.44%$0.686816
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0.08%$0.999893
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0.31%$1.082
0.25%$2.52
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0.00%$1.10
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-1.46%$81,809.00
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-0.01%$0.00550869
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0.19%$0.361198
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-0.20%$81,435.00
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10.02%$0.0000016
2.49%$1,825.13
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-2.03%$0.00940758
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-1.24%$21.75
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0.92%$0.186883
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0.35%$0.081647
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-5.29%$0.486326
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0.01%$0.00240288
5.85%$0.509703
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-1.09%Reading
NBA star Spencer Dinwiddie’s security token offering (STO) that lets investors buy a stake in his career, is set to close at the end of this month. That’s according to a LinkedIn post by Jim Preissler, managing partner of Tritaurian Capital, which is overseeing the sale.
"Looking forward to closing our securities offering for Spencer Dinwiddie's SD26 later this month!," Preissler stated. "It's been an amazing experience working with an innovator like Spencer and his team. Congratulations to Spencer for taking the first step in his tremendous vision, we are honored to play our part."
Looking forward to closing our securities offering for Spencer Dinwiddie's SD26 later this month! It's been an amazing experience working with an innovator like Spencer and his team. Congratulations to Spencer for taking the first step in his tremendous v…https://t.co/o6zlCdEN51
— Jim Preissler (@Jim_Preissler) June 22, 2020
The twice-delayed offering was initially set for October 2019 before being tentatively rearranged for January 13 of this year. It had not been announced that the sale had started. Decrypt has reached out to Jim Preissler and will update this article once we hear back.
Taking $13 million of a guaranteed $34 million NBA contract, Dinwiddie plans to issue 90 Professional Athlete Investment Tokens (PAInTs)—AKA SD26 tokens—at $150,000 apiece via his investment platform Dream Fan Shares (DFS).
Sports and crypto—an unlikely partnership that seemingly grows closer by the day. Late last week, The Athletic reported that Brooklyn Nets point guard Spencer Dinwiddie is taking his latest contract extension, worth $34 million, and turning it into a securitized “digital investment vehicle.” In other words, Dinwiddie is launching an STO in himself, offering investors a piece of his own contract. According to a Fox News report, the point guard plans to sell thousands of digital tokens tied to the...
The scheme will enable the all-star to secure his contract deal with cash upfront, and reimburse investors in monthly payouts with interest set at 4.95% per annum.
The last anyone had heard of the pioneering STO was back in March when Dinwiddie announced that DFS would be partnering with a new broker-dealer, Tritaurian Capital. The blockchain-centric firm boasts the first non-exchange trading venue in the US to gain FINRA approval as a digital securities dealer—marking a veritable slam dunk for Dinwiddie's venture.
Getting to this point hasn't exactly been smooth sailing. Some initial pushback from the NBA threatened to block the all-star's STO. According to the league, contract tokenization would breach rules on transferring compensation.
But Dinwiddie persisted in the offering. And he has the backing of the crypto community.
"I am cheering for Spencer and think that he is one of the most forward-thinking professional athletes out there," Anthony Pompliano, co-founder and partner at Morgan Creek Digital, told Decrypt in a previous interview. "The mechanism that he is proposing here is not only incredibly smart, but it will likely become the norm at some point in the future."
You can’t buy the heart of Laurel Driskill, who runs an Instagram account with 230,000 followers under the name “sugarboogerz.” But for $0.000987 per token, you can buy her Ethereum-based 'social token,' the $TINGLE, and invest in it. Driskill is beloved for creating ASMR videos, enjoyed by those for whom the sounds of whispering, tapping, and masticating caused untold pleasures. In mid-2019, she discovered a new way to tap into her fans’ adoration: creating her own cryptocurrency. Super-fans c...
It’s not the wildest token idea in crypto either—people are now tokenizing themselves for money, or attention.
Smoke from Nicaraguan cigars choked out the room as a heavy-set Bitcoin miner from the Deep South explained how the industry was expanding at an exponential rate. "You have no idea," he said at this year's Mining Disrupt pre-party in Fort Lauderdale, Florida, before following up with the common Bitcoiner maxim—repeated by President Trump on the campaign trail—that you should never sell your stash. Having been involved in the space since the early days, he recalled buying a Ferrari with orange c...
Elon Musk’s favorite cryptocurrency made a comeback at the end of last year as retail investors flooded back into the market to snap up Dogecoin. The coin was launched as a joke in 2013, but has persisted over the years and remained prominent. But just how serious is the business of mining the O.G. meme coin? People are actively buying the machines to do so, according to vendors at this year’s Mining Disrupt conference in Fort Lauderdale, Florida. Though the conference was heavily focused on th...
Banks can engage in cryptocurrency and other legally permitted activities without seeking prior regulatory approval, so long as they manage risks appropriately, The Federal Deposit Insurance Corporation announced Friday. The policy change rescinds a 2022 requirement that mandated FDIC-supervised institutions notify the agency before engaging in crypto-related activities. Under the new guidance, banks can offer services involving digital assets without the agency's advance permission. "With today...
