Hello TrueFi Community,
My name is Thomas Alvord. I’m the President of Coined, which is a privately held family crypto company. We have 8 figures in AUM.
We would like to borrow $3MM for 60 days at 16%. Assuming things go well, we would hope to continue working with TrueFi long term.
The money would be exclusively used for arbitrage between spot and futures. We would be market-neutral, being long and short BTC in equal amounts. Thus, we are fully-hedged and safe from any BTC price movements. We would place the borrowed funds and execute the trades in an account separate from our other holdings and trades.
We can provide a private URL at coined.com where the TrueFi community could check the account balance at any time. In addition, we can provide the exchange api endpoints so the TrueFi community can verify the account balance directly with the exchange. This would be a read-only api key to the exchange account that allows you to verify the balance at any time.
(On a side note it would be interesting to integrate the account balance as reported by a read-only exchange api with TrueFi as an added layer to verify loaned funds. I imagine this would be limited to borrowers who are able or comfortable doing this.)
In terms of a little background about me. I’m the co-founder and chairman of Funded Today, where we have helped generate $300 million+ in revenue for start ups over the past 7 years. We were #27 on the Inc 5000 a few years ago. I am also the founder of LawHQ, which is a tech-focused law firm. We have an iPhone/Android app that let’s people report spam. We then track down and sue the spammers. We already have over $500 million in filed lawsuits against telephone spammers. (In the U.S. every spam call can be up to $3,000 in damages under federal law.)
Lastly, I’ll note that in 2018, I started using the brand Coined in an effort to create crypto indices and tokenized index funds. You can see one of my interviews at the 2018 Vanfunding crypto conference in the comments below. For various reasons, we didn’t continue pursuing the crypto indices and tokenized funds. However, we’ve continued using Coined as a private crypto trading and investment company with great success. To expand on that success, we look forward to hopefully working with TrueFi.
I am happy to answer any questions anyone may have.