I can smell something fishy over here. Ok, so let’s back it up a bit.
Kim Kardashian is planning on launching her own investment firm called SKKY Partners alongside Carlyle Group executive Jay Sammons.
SKKY Partners is focusing in the high returns in the media, e-commerce, luxury and the hospitality industry.
Here is why I think will be bad
- Free DAO Crashes by 99% After Flash Loan Attack.
- Right now we are going through a inflation where gas, electricity and food are high.
- Crypto Layoffs, Selling and bankruptcies.
- Celius went bankrupt.
- Voyager to auction off assets.
- Voyager customer lost $1M.
- Voyager files for bankruptcy.
- Three Arrows Capital owns money to creditors and Genesis.
- Three Arrows Capital owns investors money.
- Three Arrows Capital files for bankruptcy.
- Terra Luna CEO says he’s responsable for Tera collapse.
- Why did Luna crash?
- How did Luna crash?
This is why I have zero faith in investment firms. They keep all your funds and once they have problems, so does your funds.
Even the head of SEC, Gary Gensler talked about bankruptcy concerns with CoinDesk saying he emphasized the possible dangers to investors, noting that several have filed for bankruptcy and frozen customers’ access to their funds.
There’s basic protections in our securities laws that guard against that. If you’re investing in any one of these, these service providers, platforms, you’re not getting those basic protections insuring against fraud, manipulation, what’s called front-running.
It doesn’t matter what you hand over to a platform, if you hand over gold, if you hand over bitcoin [BTC] or you hand over any one of 1,000 plus alternative coins, frankly, if you hand over chinchillas. That the platform is taking those funds of value and doing something with it – they might be operating a hedge fund, they might be lending it out, they might be operating other investment schemes – but that platform is under the securities laws book because of how they’ve taken that money from you.
I know SKKY Partners is not blockchain or cryptocurrency, but still your funds are intrusted with them the minute you handover your funds. Especially private equity investing.
Read More: Kim Kardashian Sued For Promoting EthereumMax.