Dinwiddie Speaks On Insider Trading and How It's An Ethical Dilemma
As we’re now in day eleven of no NBA basketball NBA players are finding different ways to spend their time. For Spencer Dinwiddie, it’s speaking on “insider trading” allegations regarding the nation’s capital.
For those who don’t know there have been some reports that some U.S. Senators sold large amounts of stock back in January after being briefed about the possible threat of what is now a global pandemic, COVID-19.
Not to get too into politics here, but that is a bit alarming considering how U.S. Senators are elected officials who are supposed to have the American people’s best interest in mind. So if they somehow got a tip on how serious this could be before the general public that could have been some useful information to start the year off.
On Twitter, Dinwiddie chimed in on the whole situation.
“Now we’ve got Senators insider trading. I am completely and utterly taken aback. I mean, who would’ve thought that humans could display such greed?” said Dinwiddie. “I thought they put up their own money for campaigns so they didn’t owe any favors, and were placed into mutual funds so they couldn’t cherry pick stocks or sectors with the knowledge they attain everyday on Capitol Hill. I’ve never been so shocked in my life.”
Now it’s obvious that the Nets’ leading scorer this season was being sarcastic but in all seriousness for a while he’s had an interest in finances and investment. As a matter of fact he has a one of a kind NBA contract that him and his agent recently reconstructed, where it’s basically an investment vehicle.
Last Friday Dinwiddie partnered with California-based licensed lender Cred to let NBA fans earn interest on stablecoins and other types of cryptocurrency assets.
“It was important for me to partner with a team that had ample experience in the payments space and offered a product with no minimums to make this as accessible as possible to all,” said Dinwiddie. “I hope this product can help you preserve and build wealth during these challenging times.”