Hi, I spoke to Roshan Dharia since I assumed he is the owner of TrueTrading, he told me he left since a few weeks and was not sure if the could disclose who is currently in charge of TrueTrading.
I find this a bit odd given that this is an entity that manages loans on an open platform. Can anyone here give more info on the entity TrueTrading?
TrueTrading is a wholly owned subsidiary of Archblock Inc. The management team of Archblock is still responsible for TrueTrading, nothing has changed from that point of view.
With best regards,
Onwards & upwards! Forever building, forever evolving
Adding to AdL’s response:
I am, Bill Wolf, Archblock’s Chief Investment Officer:
TrueTrading and Archblock’s credit team supports a variety of lending initiatives across TrueFi and is led by myself, Bill Wolf. The TrueTrading credit team continues to report to me with day-to-day credit and portfolio lending functions managed by Tobias Crabtree, Archblock’s Director of Credit & Underwriting. TrueTrading assists in underwriting and due diligence on all borrowers for the USDC, USDT, BUSD, and TUSD lending pools on behalf of TrueFi. TrueTrading also manages the NeoFi Opportunities portfolios and Alameda Research Portfolio II on TrueFi Capital Markets.
The NeoFi Opportunities [Pilot IV] portfolio has 1 loan outstanding for $5.5 million USDC that matures in January 2023.
The Alameda Research Portfolio II has 2 loans outstanding for $7.28 million USDC that mature Dec 20, 2022.
The TrueTrading team is continuing to track the rapidly evolving market conditions for the broader DeFi lending marketplace and will make specific comments and announcements when and if conditions warrant. We are monitoring all loans across the platform in general and the Alameda loans in particular.
The lending pools managed by TrueTrading originated $1.65 billion of loans generating $40 million of interest since inception in November 2020. Loans on TrueFi have experienced a low default rate of 0.3% of the total loan principal originated. We believe this default rate reflects strong relative performance versus both the crypto lending market, as well as the broader corporate public and private lending markets, in terms of defaults.