Yieldstreet Under Fire For Missing Investor Payments

Alternative investment marketplace Yieldstreet has come under fire from investors recently due to several investments that have gone bad; according to the Wall Street Journal more than 30 customers signed a letter to Yieldstreet asking for details on how the company insured against losses and monitored $100 million across five maritime loans and an oil and gas deal; the company has also lost a highly touted deal with BlackRock where they were managing a new fund called the Yieldstreet Prism Fund, announced just two months ago; a Yieldstreet spokeswoman said, “the fund’s launch was successful but was then faced with the market environment caused by Covid-19. We are going to look at a different sub-advisor strategy and will be transitioning out of our relationship with BlackRock in an orderly fashion.” The Wall Street Journal