>AltMarket, a Los Angeles start-up that released a cryptocurrency honoring the late Wu Tang Clan rapper O.D.B., received a federal loan on April 14, its chief executive, Bryce Weiner, said. He said his company, which has worked with financial regulators in the past, was better equipped to sort through the loan application than, say, a restaurant owner. He added that he had worked closely with his lawyer for a week, contacting banks and loan providers.
I'm wondering what kind of mental gymnastics you have to pull to justify taking relief money as a cryptocurrency exchange. This is one of many canaries dying.
I thought the program was explicitly conceived as the country paying for a couple months of payroll to help get companies through the covid / social isolation recession. Even if you have money in the bank, every business that doesn't have years of cash on hand has to be looking at their employees and wondering if they should cut now. I think preventing this was an explicit goal.
>AltMarket, a Los Angeles start-up that released a cryptocurrency honoring the late Wu Tang Clan rapper O.D.B., received a federal loan on April 14, its chief executive, Bryce Weiner, said. He said his company, which has worked with financial regulators in the past, was better equipped to sort through the loan application than, say, a restaurant owner. He added that he had worked closely with his lawyer for a week, contacting banks and loan providers.
I'm wondering what kind of mental gymnastics you have to pull to justify taking relief money as a cryptocurrency exchange. This is one of many canaries dying.