Dry wit and financial news both fall firmly in Spencer Dinwiddie’s wheelhouse. So it’s no shock the outspoken Nets guard chimed in about revelations that several U.S. Senators sold large amounts of stock after nonpublic briefings in January on the threat of the coronavirus.
Sens. Kelly Loeffler (R-Ga.), Richard Burr (R-NC), Dianne Feinstein (D-Calif.) and Jim Inhofe (R-Okla.) are facing accusations of insider trading and calls for their resignations for cashing in on stocks before the markets crashed – and while the Trump administration was publicly downplaying the damage the virus would cause.
Dinwiddie – who has more time on his hands than usual, with the NBA season suspended due to the coronavirus outbreak – sarcastically commented on Twitter.
“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? I thought they put up their own money for campaigns so they didn’t owe any favors,” Dinwiddie tweeted.
“And were placed into mutual funds so they couldn’t cherry pick stocks or sectors with the knowledge they attain everyday on Capitol Hill. Ive never been so shocked in my life,” he continued, channeling the faux surprise of Capt. Louis Renault in “Casablanca,” who was shocked, shocked, to find that gambling is going on.
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Dinwiddie continues to displayed an interest in finance. He tokenized his contract, turning it into a first-of-its-kind investment vehicle for a professional athlete. On Friday, he partnered with California-based licensed lender Cred to let NBA fans earn interest on stablecoins and other cryptocurrency assets.
(Stablecoins are crypto assets pegged to something stable — like the dollar — and are especially popular when markets are highly volatile, as they are now amid the coronavirus pandemic.)
“You all know I’m very passionate about financial education and digital assets, so I’m excited to announce my partnership with @ihaveCred. Cred is a blockchain-based finance platform that allows you to earn interest on your digital assets,” Dinwiddie wrote on Twitter.
“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. I hope this product can help you preserve and build wealth during these challenging times.”