Cricket star Michael Clarke in bitcoin endorsement row
Former Australian cricket captain Michael Clarke has come under fire for endorsing a fundraising scheme by a Queensland based crypto currency trading company.
Global Tech Exchange is seeking to raise between $10m and $50m through an initial coin offering for its cryptocurrency trading and exchange platform. Last night, Clarke tweeted there were “exciting times ahead” with a screenshot of his brand ambassador entry on the company’s website.
“I am really excited to be involved with Global Tech,” says Clarke’s endorsement. “Their ambition and drive is something that I resonated with straight away and I can’t wait to learn more about blockchain technologies.”
A company spokesperson told Mumbrella: “Michael signed on to be a Global Tech ambassador recently after a process of discussions and assuring the legitimacy of Global Tech’s project.”
Initial Coin Offerings (ICO) are often used by cryptocurrency startups to bypass the regulated capital-raising processes required by traditional public methods such as stock market floats.
Prominent Sydney investor John Hempton was quick to call out Clarke on his blog, pointing out, “there are worse things you can do than tamper with the ball using sandpaper”.
Hempton was reluctant to comment when contacted by Mumbrella for further comment about his concerns, but did add: “”Clarkey is being run out on his own call. I will stay in the crease.”
Billing itself as a “A Crypto Community for the People by the People”, the company is set to open its ICO on August 15 with the aim of launching the platform in early December.
So far it is unclear what channels Global Tech Exchange is marketing its ICO through, however Mumbrella has contacted Michael Clarke and Global Tech Exchange for Comment.
So the “bitcoin endorsement row” is a single investor with a blog having a crack at Clarke, and then refusing to go into more detail apart from a bludgeoned cricket analogy? This story seems like a bit of a reach.
User ID not verified.
Well…
1) Let’s all make a calendar note to check back in December 2019 to see the platform has launched with huge success.
2) Only 8 views of their YouTube video so far so Clarkey doesn’t seem to be much of a pull.
Make it 9!
https://www.youtube.com/watch?time_continue=59&v=URKD1LbRQKA
Actually do watch the video because it appears to talk about managed funds and investment strategies and at that point I begin to wonder… whose AFSL licence is this all coming under?
User ID not verified.
Will be interesting to see it play out…
Though I must say not much of what has been written is really relevant to the project?
User ID not verified.
Just read the white paper and it seems that they have a few things that they are trying to achieve, education and a social platform then a exchange and it says they have partnered with a fund manager. Let’s see how it plays out
User ID not verified.
Hopefully not like the 2010–11 Ashes.
User ID not verified.
Really, we will look.
User ID not verified.
I love these Crypto sites. They have such a great sense of humour.
GTTrade IO site now says “As seen in …” with a list of newspapers and uses their trademarks (presumably with permission) to help build trust of users. Here are the ones they mention:
Sydney Morning Herald “‘Squandering his reputation’: Michael Clarke savaged for endorsing Australian crypto company”
https://www.smh.com.au/business/markets/squandering-his-reputation-michael-clarke-savaged-for-endorsing-australian-crypto-company-20180810-p4zwn9.html
Smart Company ““Just buy sandpaper”: Cricketer Michael Clarke slammed for endorsing local cryptocurrency startup”
https://www.smartcompany.com.au/technology/cricketer-michael-clarke-slammed-endorsing-local-cryptocurrency-startup-global-tech/
Financial Review “Michael Clarke’s latest endorsement deal ain’t exactly Weet-Bix: What is it with cricketers endorsing less-than-respectable investment schemes?”
https://www.afr.com/brand/rear-window/michael-clarkes-latest-endorsement-deal-aint-exactly-weetbix-20180809-h13qjs
Business Insider “Michael Clarke endorsed an Australian ICO and some of his fans are furious. Initial coin offerings (ICO) are the new ostrich farming.”
https://www.businessinsider.com.au/michael-clarke-cryptocurrency-ico-global-tech-2018-8
User ID not verified.
As predicted, it’s gone well:
https://www.businessinsider.com.au/global-tech-shut-down-asic-cryptocurrency-michael-clarke-2018-10
User ID not verified.