Crypto Treasuries Cos. Lack Transparency: Kavita Gupta

Watch Crypto Treasuries Cos. Lack Transparency: Kavita Gupta - Bloomberg on Dailymotion

Transcript

00:00So we were having an interesting conversation in the commercial break about DATS.

00:04Obviously, we just spoke to the CEO of Strategy.

00:07How are you viewing DATS at this moment in time, especially as the broader market comes under some pressure?

00:12We are invested in over 8 to 10 of them and super frustrated with the investments with DATS

00:17because it's the most opaque investments, as I see, we have done.

00:21It's like you buy a public market stocks and then they are responsible for at least having public information, filings, etc.

00:29But what I'm seeing with DATS are the main sponsors, two or three groups, mostly the funds, the crypto funds,

00:35are the majority stakeholders and there is no transparency.

00:40We just get to know through lawyers, not even the sponsors group,

00:44oh, we have changed this rule now, now we're not going to release the stocks,

00:47we are not going to make it public, we're going to extend and actually increase the price, etc., etc.

00:53But ostensibly that lack of transparency was known before you made the investment.

00:57No, never the case.

00:59Because when you make an investment, you basically are talking to the sponsors group

01:03and you are expecting that there is going to be monthly or quarterly meetings with the main executives,

01:09at least the executives.

01:11What happened over time, like any other big crypto BAF,

01:14is that people started saying, hey, we are the sponsored group,

01:17we don't even know who's going to be the CEO,

01:19we don't even know what it is, but we are doing a $2 billion Solana DAT,

01:23or we are doing a $1 billion Ethereum DAT,

01:25just take our name and those people have five jobs

01:27and now it's impossible to reach them

01:30and the new CEO has no idea what is happening at the sponsor's level.