NEW YORK, Aug. 13, 2018 (GLOBE NEWSWIRE) -- The following is a statement by David Drake, founder and President of The Soho Loft:
Due to my expertise and popularity in the crypto financial arena, I have had many false allegations brought up against me. There has been a great deal of social media bullying going on about me, and I want to set the record straight that it is not true. The difficulty is when people see this on a trusted site like LinkedIn they question the validity and so I want to make a formal announcement that rumors about me or any member of The Soho Loft or LDJ Capital being investigated by the FBI or the SEC are entirely false. The people making these allegations are using social media to start a stir and have nothing on me but contempt.
Earlier this summer I was attacked by people on LinkedIn, whom I have not had any dealings with who were only trying to start a stir, but I must continually defend myself against these false allegations. This is another reason we must look to the regulators of the world to help us to continue to find ways to ensure this industry is on the up and up and that all companies/people in this space are appropriately vetted, and have performed due diligence, much like what would happen for an IPO.
Consequently, The Soho Loft started working with a company called Verifer.io to help enable companies in this space to do just that, proper due diligence and vet the company to see if is genuinely ready for an ICO. We will also use Verifier’s system to be able to verify people’s identifications, their LinkedIn, their corporation and their PEP status certification to ensure we are working with people who are right for this space and above board.
The David Drake brand believes it would be best to deal with real businesses, real shareholders who have an operating history and have a revenue stream. At this time we can no longer work with startups, that are not prepared for the system and who are just using this industry. We are working with stable companies which have an actual product. This fall, the industry will be pivoting towards real businesses while Wall Street will be embracing the sector under the guidance of the SEC.
The adult supervision is now embracing cryptocurrency in North America and will take the lead on how to scale this for Corporate America and Wall Street. The napkin cryptocurrency startups period it’s coming to an end with summer ending.
Disclaimer: David Drake is on the advisory board of the firm mentioned in this article.