cedars the third

102 posts

cedars the third

cedars the third

@cedars_the_two

Katılım Eylül 2011
13 Takip Edilen12 Takipçiler
tribeleader.eth
tribeleader.eth@tribe_leader·
@JpThieriot you could help us uphold - cred customers @ihaveCred who hold #xrp in cred by speaking to flare @FlareNetworks and try to obtain us that equivalent Spark airdrop that we deserve to get as our xrp is Frozen in cred. We could obtain the spark in our uphold accounts.
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cedars the third
cedars the third@cedars_the_two·
It may "only" be a 80m hole 🙂 but for 6000 extremely grateful new customers and the gratitude and goodwill of the entire sector, and the public as whole, it may be good business.
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cedars the third
cedars the third@cedars_the_two·
It's about restitution. Not punishment. Make us whole and all is forgiven @dschatt
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Joe Pile
Joe Pile@JoePile5·
Interesting looking back on a tweet from earlier this year when I inquired about due diligence on Cred. If @arrington had lent these 1350 BTC more recently, they would've ended up in the hole with the rest of the creditors... Wonder if he has any thoughts on what's going on...
Joe Pile@JoePile5

@arrington @ihaveCred When you're lending as much as you are, how do you go about performing due diligence with a platform like cred? Do you have greater access to their books etc to make an informed decision (to know you're funds are being handled correctly) that more normie investors wouldn't?

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cedars the third
cedars the third@cedars_the_two·
Had to Google it, "C-suite refers to the executive-level managers within a company ... include chief executive officer (CEO), chief financial officer (CFO), chief operating officer (COO), and chief information officer (CIO)." Entire CRED c-suite on the hook for PERSONAL LIABILITY
M ιKΞ MιCHΞ L-1N@mikemichelin

"An announcement was made to Cred employees in Oct, but the c-suite was aware of the incident in Aug. From when the fraud was discovered in Aug to notifying the team, Schatt reminded employees that they should continue to add more clients to offset the loss in assets."

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Joe Pile
Joe Pile@JoePile5·
Insiders say 300BTC "loan" was not stolen by @SFOhereweGO but was payment for @ihaveCred/@dschatt's stake in Cred Capital Let's Recap this Shitshow: +800 BTC fraud +$39M O/S loan +$14.3M & 800BTC in options & futures contracts LIQUIDATED in March =Cred likely left w/$6M in assets
CoinDesk@CoinDesk

IN DEPTH: @ihaveCred’s bankruptcy filing mainly blames fraud by an outside party. The full picture painted by former Cred employees is more complex, and highlights the risks of the budding crypto lending market. @Nate_DiCamillo reports trib.al/RTuwpIL

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cedars the third
cedars the third@cedars_the_two·
@Saul2GoodmanEsq It either shows Schatt's dishonesty or JP's dishonesty or both. There is no scenario where they both honest.
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cedars the third
cedars the third@cedars_the_two·
Cred disclosed all financial difficulties to potential institutional investors in August, but concealed it from private investors until 27 October! After August, Cred pushed hard for MORE loans from private creditors - increasing rates to 13% - while hiding the truth. #robbery
M ιKΞ MιCHΞ L-1N@mikemichelin

Tons of new investigative information coming to light about the #CredEarn fiasco. @ihaveCred and @dschatt knew long ago about the problems and have a pattern of hiding it from investors & employees. cryptobriefing.com/behind-shroud-…

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cedars the third
cedars the third@cedars_the_two·
Leverage your genius and turn this ship around
Enrico Ferro@egferro

@Mashinsky Any chance of stepping in as a trustee to help fixing the mess created by @ihaveCred and save the face of the crypto industry? After all, it may represent a good business opportunity and it would greatly benefit your company brand.

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cedars the third
cedars the third@cedars_the_two·
@JoePile5 @ihaveCred I don't know. If Cred can prove its case against JA, all actual losses flow from JA acts and omissions, including fake KYC verification of imposter. There is no default on the moKredit loan.
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Joe Pile
Joe Pile@JoePile5·
@cedars_the_two @ihaveCred Unfortunately, there’s so much going on in terms of fraud & negligence on the part of cred, they’ll likely fight tooth and nail to deny any major payout - sighting their interpretation of some broadly worded fine print in their underwriting.
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Joe Pile
Joe Pile@JoePile5·
At least @ihaveCred actually retained insurance coverage, paying nearly $380k in annual premiums with $270k for E&O coverage. Hopefully, that covers some of the losses but knowing the extent of the negligence & fraud, I wouldn't hold my breath.
Joe Pile tweet mediaJoe Pile tweet media
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cedars the third
cedars the third@cedars_the_two·
@UpholdInc Missing the point. If you succeed, you are awarded damages from an insolvent company. You join the list of creditors. Just another mouth to feed. How do you intend to increase the total funds available to the creditors or this irrelevant to you? Maybe it's just about appearances?
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CryptoDR
CryptoDR@CryptoTruth21·
@dschatt “The policy also extends to any wrongful act or product failure in the rendering of Cred’s professional services”. So why are we not covered @ihaveCred @dschatt ?? It’s in black and white that we would be made whole if the worst happened
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cedars the third
cedars the third@cedars_the_two·
@dschatt @ihaveCred CRED'S CLAIMS: 8. Funds are swept to one of our custodians who have their own individual insurance policies. BitGo & Bittrex being our two largest partners Regulatory: Cred take a conservative approach to compliance with all local lending laws in jurisdictions where we operate
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cedars the third
cedars the third@cedars_the_two·
@dschatt @ihaveCred CRED'S CLAIMS: 9. .  We have a compliance team and periodic outside audits.  Our service providers include top legal, consulting, servicing and other.
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Keşfet

@JpThieriot @CredEarn @tribe_leader @ihaveCred @FlareNetworks @dschatt @JoePile5 @arrington