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OFFON

DRAFTKINGS INC.

(DKNG)
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DraftKings : Short-seller Hindenburg offers $1 mln for info related to cryptocurrency Tether

10/20/2021 | 01:08pm EST

Oct 20 (Reuters) - Short-seller Hindenburg Research, which in recent months has taken aim at firms including Nikola Corp and DraftKings Inc, announced a reward of up to $1 million for information on the reserves that back cryptocurrency Tether.

In a statement on Tuesday, the short-seller said Tether's disclosures around its holdings have been "opaque".

The U.S. Commodity Futures Trading Commission fined the company behind Tether $41 million last week to settle civil charges over allegedly making misleading statements and making illegal transactions.

The firm behind the digital currency Tether said in an email it understands its responsibility and will continue to focus on its "customers' requirements and defending the crypto markets".

Tether is a major player in the stablecoin market. Stablecoins are digital tokens usually backed by reserves of dollars or assets. (Reporting by Niket Nishant in Bengaluru; Editing by Shounak Dasgupta)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
DRAFTKINGS INC. -9.36% 28.37 Delayed Quote.-32.90%
NIKOLA CORPORATION -4.35% 9.45 Delayed Quote.-37.75%
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Analyst Recommendations on DRAFTKINGS INC.
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Financials (USD)
Sales 2021 1 264 M - -
Net income 2021 -1 520 M - -
Net cash 2021 1 274 M - -
P/E ratio 2021 -7,72x
Yield 2021 -
Capitalization 11 531 M 11 531 M -
EV / Sales 2021 8,12x
EV / Sales 2022 5,70x
Nbr of Employees 2 600
Free-Float 46,6%
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Mean consensus OUTPERFORM
Number of Analysts 28
Last Close Price 28,37 $
Average target price 62,33 $
Spread / Average Target 120%
EPS Revisions
Managers and Directors
Jason Robins Chairman & Chief Executive Officer
Jason K. Park Chief Financial Officer
Paul Liberman Director, President-Global Technology & Product
Travis Dunn Chief Technology Officer
Jennifer Aguiar Chief Compliance Officer
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