StockX CEO talks efforts to combat sneaker fraud

Brands like Adidas (ADDYY), New Balance, and Hoka are gaining popularity in the sneaker market. However, not everyone selling is to be trusted. CEO of StockX Scott Cutler joins Wealth! to discuss the platform's fraud prevention efforts. Cutler notes that the U.S. secondary market is projected to be a $70 billion market by 2027, with half of the transactions occurring online. He emphasizes StockX's aim to protect against fraud through "physically inspecting" every item sold, having rejected over $600 million worth of merchandise. With more than 200,000 products in their catalog, Cutler stresses the importance of ensuring that each product "is what it's represented to be," to maintain the integrity of the platform and consumer trust. For more expert insight and the latest market action, click here to watch this full episode of Wealth! This post was written by Angel Smith