NBA Star Offers Fans an Alternative to Traditional Banks

NBA star and crypto company partnership

Amidst uncertainty in this financial climate, we are thrilled to announce a partnership unlike ever before between an innovator in the blockchain space and an NBA superstar. On March 20th, 2020, we teamed up with the philanthropist, entrepreneur, and NBA Star Spencer Dinwiddie to form a strategic partnership that will offer an alternative to traditional banking and allow NBA fans to earn interest on stablecoins and other crypto assets. 

 

This will not only benefit basketball fans, but a portion of the revenue generated from this partnership will go towards the Dinwiddie Family Foundation, which provides college scholarships to disadvantaged and at-risk youth. Starting today, individuals will earn interest on their digital assets through the Spencer Dinwiddie & Cred partnership website.

Dinwiddie was born and raised in Los Angeles, California. During his collegiate career at the University of Colorado, he helped his team earn its first NCAA Men’s Basketball Tournament appearance in 10 years. After overcoming what most might consider a career-ending ACL injury, Spencer announced that he was declaring for the NBA draft at the end of his junior year. 

As one of the NBA’s top guards, Spencer’s drive, dedication, and tenacity extends well beyond the court. By the age of 26, Spencer Dinwiddie launched several successful businesses as well as enrolled in the Harvard Business School Crossover Into Business program. With great mentors such as the late Kobe Bryant, Spencer has worked diligently to make his platform larger than the game of basketball. 

In the summer of 2017, Dinwiddie was curious and courageous enough to invest in the world of bitcoin just before it reached critical mass, impeccable timing before the mad crypto boom in the fall and winter of 2017. Dinwiddie told Bleacher Report in October 2018 that he still has a chunk of money invested in crypto, and recently he bought in more, preparing for another boom. He has connected with crypto more deeply than most investors, inside and out of the NBA. 

“If I woulda gone all-in, boy, I’d be loaded right now. I’d be rolling in it,” he said at the time.

In January 2020, Dinwiddie launched an Ethereum-based platform called DREAM Fan Shares, placing him at the forefront of the cryptocurrency industry by being the first NBA athlete to tokenize his three-year contract with the Brooklyn Nets through the SD8 coin. 

This decision sent shock waves through both the basketball and crypto worlds, opening up a conversation that mainstream media and sports fans rarely have about the power of blockchain technology. Looking for an alternative to realizing capital gains in order to take advantage of a rising crypto market is important, especially for someone under the microscope such a Dinwiddie. Enter Cred. The Bay Area-based borrowing and lending platform which facilitates open access to credit anywhere and anytime.

While he might be best known for his star power on the court, we are proud to partner with such a dedicated entrepreneur. Spencer is using his platform during these times of financial uncertainty to bring awareness of the power of blockchain to make money work harder and smarter. We are delighted to support Spencer in his mission to democratize financial services through blockchain.

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“It’s important for me to bring value to my fans both on and off the court,” said Spencer Dinwiddie, Brooklyn Nets Guard and serial entrepreneur. “I believe blockchain can radically reshape the nature of financial services for the better, and the Cred team is well-positioned to make this happen. I believe in Cred’s mission to provide more equitable and inclusive financial services to people, leveraging blockchain technology, and their team has unmatched expertise in capital markets, blockchain, and traditional financial services. This partnership comes at a critical time, where I can educate my fans on the power of cryptocurrencies and blockchain while they earn substantial interest on their digital assets.”

The Cred team was lucky enough to host Spencer in our Bay Area office for a day of partnership promotion, education, and an inside glimpse of his larger than life passion for the crypto industry and his community. Dinwiddie educated his fans on cryptocurrency terms and phrases, discussed the current crypto industry with CEO and Co-Founder, Dan Schatt and was given an inside glimpse at upcoming Cred releases. 

cred crypto team standing next to NBA player Spencer Dinwiddie

The Spencer Dinwiddie and Cred strategic partnership gives digital asset holders the ability to earn up to ten percent interest on Bitcoin, Litecoin, Ethereum, and more by visiting the Spencer Dinwiddie & Cred partnership website. Digital asset holders can commit to a six-month term and receive monthly interest payments, with the option to roll over pledged assets for additional periods. No account minimum is needed and interest is paid out in fiat or cryptocurrency. Spencer Dinwiddie fans with $150K or more in digital assets can schedule a call with Cred Concierge for custom support. 


 

Disclaimer: CredEarn is the trade name for a service offered to non-US persons by Cred LLC, which is an entity distinct and separate from Cred (US) LLC. CredEarn allows you to extend a loan to Cred LLC. The purpose of the loan is to allow you to earn an enhanced yield on your crypto assets, such as Bitcoin. Cred LLC is not a bank and CredEarn services are not insured by the FDIC. CredBorrow and C-LOC™ are trade names for lending products of Cred (US) LLC, a licensed lender and a wholly-owned subsidiary of Cred LLC. Loans, loan amounts, terms, and rates are not available in every jurisdiction, or for every collateral type. The availability of rates, crypto types, loan amounts, and other terms are subject to change. Loan applicants are subject to AML and KYC screening. Terms, conditions, and restrictions apply. Loans made or arranged pursuant to California Finance Lenders Law License 60DBO - 91480.