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This feels like a stretch by the CFTC. The investors’ LPs should have a bone to pick with what happened to their money, but there’s a good reason why you have
by gumby 4y ago
This feels like a stretch by the CFTC.
The investors’ LPs should have a bone to pick with what happened to their money, but there’s a good reason why you have to be a qualified investor to become an LP. But the funds themselves aren’t CFTC regulated anyway.
The real issue is the utter fraudulence of the whole crypto”currency”* sector, but the CFTC doesn’t have authority over that (not clear anyone does, unfortunately) and that’s not the subject of action here.
* I refuse to overload the abbreviation “crypto” when it has a perfectly useful definition already.
- cactusplant7374 4y agoKevin O’Leary invested and was paid as a promoter. He has made more than he lost. What is to say that the funds aren’t in on the con?
- raincom 4y agoWhat if LPs were agents of pension funds, endowments, etc? Such LPs have no skin in the game.
- gumby 4y agoThey are still considered sophisticated investors. Or perhaps I didn't understand your comment.