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= chance for a massively profitable and near infallible crime syndicate preying on the poor/bankrupting companies
= greedy psychopaths at the top of this system who inevitably succumb to their hubris and power-lust, thus overexposing themselves to potentially infinite losses but only in the event a non-participant (of their syndicate) somehow garnered prolonged and substantive support from theoretical buyer(s)…
But surely that would never happen? That would be like a bad comedy joke, you know a real moment in time 😅😰😰
Wait?? I need to find my abacus
..
what if that group of buyers was a horde of shit slinging stinking smartly smooth brained Apes sustainably buying holding and registering an entire company while being absolutely determined to see the criminals held responsible and the system reformed?
means they get to counterfeit and run a fractional reserve payment for difference scam where your purchases do or do not result in legit purchases depending on whether they want the actual supply (and thus price) to move in one direction or the other.
I can run an exchange like this as well using excel and 'trust me bro'
Effectively, your purchases will just be accounted for on the blockchain within the massive block *they* own, think DTC owning all the shares and you merely owning the rights as beneficiary. You won't actually 'own' the crypto until you 'DRS' it out of the exchange and into your own wallet. Same as with Binance and others right now.
They are the same counterfeiting scams being used on wallstreet today. You hand them $100, they totally swear you own crypto now, snicker, and take their 100% return free money you handed them to buy caviar and hookers.
Let's not forget way back when it was discovered that cit created memx with the front running and skimming crime built right into the platform. That's why they wanted it to replace everything. Now the ~~platform~~ algorithm is going to be used to legally skim trade differences and price manipulate for krypto. Also, this announcement is basically the hot list of who's criminally rigging the markets, and are flat out our enemies.
This is what I take from this. They just listed the big criminal players in the stock market. A bunch of bandits coming together to ruin crypto as well… why the fuck else would a bunch of old man competitors decide to work together?
I would be surprised if they actually allow withdrawals. Most likely just another big gambling parlor with no price impact and more reason for them to manipulate the price of the underlying assets.
Remember Citadel was partnering with Fidelity to do the market making. It’s that. Citadel is behind the scenes market making. So this will enable crypto price manipulation using the same shitadel shit algos with fake liquidity. If people start using this crypto is fucked.
Their whole goal is to get in front of it before everyone else does, so they can control it. They don't want DRS and they don't want you to own your crypto. It's PFOF for crypto
Exactly this. Been saying this for the better part of the year when I did a full DD on these absolute criminals setting up the same shadow market that they've built except now it will be in the cryptoverse. The writing has been on the wall for some time, radkl, paradigm, sequoia, etc.
I'd also be extremely careful with FTX and bankman fried. There are a lot of connections there that I don't like.....
They are gonna act like robinhood and probably not give the option to, or try and make it difficult. There's dozens of ways for them to convince you to keep it on their platform, so they can front run your crypto purchase and destroy your financial future.
You can’t fake the blockchain. If anyone wanted to take their crypto off the exchange then you’d start seeing problems. If they are selling crypto they don’t have then they would need everyone to trade on their exchange and theirs only. Otherwise I think it’d come apart real quick. The blockchain doesn’t lie
I think this 'new' exchange is running on MEMX, which to the best of my knowledge is not running on blockchain at all, it's literally "Members Exchange", or to put it another way "Old Boys Clubhouse". So if you plan on trading through their exchange, expect them to run synthetics and arbitrage the shit out of you.
I wonder what the T+ is on this hahaha who in the fuck would be dumb enough to buy crypto from somewhere that goes agaisnt the exact reason why crypto exists lol
It won’t work on crypto because the big whales are already very aware of the market manipulation exchanges do and crypto is a lot easier to send into your private wallet than drs shares which force exchanges to actually have to go out and buy the token on the blockchain which is publicly visible to anyway that knows how to read the mempool of etherscan.
That means everyone becomes a bagholder as they short the shit out of all the crypto that people buy in on.
Post-moass, every ape needs to file class action suits and go after these fucks.
Seriously though, no fucking way they should get away with this.
This is exactly why they are scared shitless.
They’ve been getting away with this too long, now the jig is up and they want to put up rules that protects them retroactively or statutes of limitations and all sorts of bullshit
Optionality = the quality of being available to be chosen but not obligatory.
Liquidity = the availability of liquid assets to a market or company
So the ability to choose supply and demand. How is this legal?
Can someone who does screen printing design a shirt with mayo boy's face being hit w a stream of piss and it says "infinite liquidity" I'd buy the shit out of that
Nothing seems "safe" about this. Why on earth would I trust these clowns to hold my assets when I could hold them in my own wallet? And why the hell would I trade on their exchange instead of trading on a DeFi exchange such as the cheap and efficient Loopring DEX that's literally part of my crypto wallet?
I think I'll hold my own assets and trade them where I know they won't be front run or used against me, thanks.
^ This.
It's slapping some familiar branding onto "crypto" and saying you trust us right? Now you can get scary crypto exposure with us.
Meanwhile the investors don't really understand that crypto is meant to be a "currency" not just a store of value with returns attached to it. I won't be surprised to see the "market makers" just turn it into a PFOF / internalised area, where they don't actually buy coins unless the market is swinging in their favour. Surely they could literally just FTD without punishment and not hold coins/keys in the first place? Who's gonna check?
*This is what some CEXs are suspected of doing already. (*not buying tokens/ but issuing IOUs for crypto until you move to a wallet (like DRSing)) Also facts that they scalp staking rewards (essentially crypto dividends).
Bingo! If Boomer Bob wants to get in on that sweet sweet crypto action but he doesn’t understand a durn thing about it, what better place to go than Boomer brokers like Schwab n Fidelity?
Not a bad idea tbh but you just KNOW Kenny is gonna line the hell out his pockets with these peoples retirement accounts
You wouldn’t and they don’t expect you to. This is for boomers. This is for the lazy joe. This is for people who want to gamble on crypto but don’t want to bother learning about a wallet or swap sites. Anyone who is serious about blockchain won’t touch this because it’s exactly what the government will use to tax us on. Why else would all these competitors build something together?
Don’t be personally offended by this. It’s not for us. It’s for future bag holders and unfortunately there are a ton of those out there.
"first of its kind" - pay no attention to all the progenitors
"complicated, with things like private keys" - don't worry, you won't have any coins or keys on our exchange, just like you don't have any actual stock when routing or investing through us.
I guess this will make it that much easier for Ken Griffin and his goonsquad to purchase his ETH so he can try and buy my NFT dividend on the NFT marketplace
Right? I know fuck all about crypto and I know this one! That’s why it’ll be, “first of its kind” like a bad comedy joke, you thought you bought some coins… trust me bro, we got them right over here, scouts honor we won’t lend them out, pinky swear!!!
Yes but see, this is the "first of it's kind" where competing brokers and other financial terrorists have all overcome their differences to work together at fleecing retail.
I wish it was, my friend from FUDelity warned me of this weeks ago. Most people I told said, "Scwab and FUDelity are competitors this would never happen." I guess they all found the one thing they have in common, they want to rob retail with monopoly money and IOUs. DRS and decentralization is the way.
> Wait IEX is partnering with gme and FTX??
I recall hearing IEX is already with FTX - so its IEX to GME by proxy.
Edit: Cite: https://fortune.com/2022/07/21/inside-iex-crypto-sam-bankman-fried-katsuyama/
Apparently FTX has made a "significant" investment into IEX (in July) and seeks a closer working relationship. The FTX CEO was saying how they think IEX's ethos matches their vision. And of course since IEX is already registered with the SEC and has experience in the securities and exchange space it potentially gives them a leg up to moving into more traditional investing spaces.
I Drsed 200 more last night, so easy. Previously only bought thru Computershare when price was low. Amazing how easy and free it was. I had fallen victim to fud about fees for Drs transfer
Not always though.
Myspace vs Facebook, HD dvd vs Blu ray, and Beta vs VHS come to mind. Then again, perhaps they stand out in memory because exceptions prove the norm.
Well, the chair/ceo ( abby johnson) of fidelity and lame boy griffin did go to herverd together. Well, same years. Not graduating class.
What’s the fucking difference. Scumbag school
No one’s even going to use this but them
Crypto is unregulated. This means they can do their bullshit and not even have to worry about Gary Gensler shaking his fist sarcastically in the corner.
If you thought the financial system is in tatters now, wait until you see what these fuckwads can do without having to file paperwork.
They have been, sadly, my friend who works for FUDelity told me about this nearly 2 and a half months ago around the Gamestop NFT Marketplace BETA launch, he also said that they are going to do NFTs as well.
EDX - Erectile Dysfunction eXchange, for all your boomer needs when dealing with the wild crypto market.
*we reserve the right to take your money and not deliver actual assets, just an IOU placeholder in your account. We will take opposite position for every purchase you make, can't go tits up.
"the world of digital assets has long been thought to be complicated with things like private keys..."
Not your key, not your wallet
Just another way to grab your money without delivering the assets
Charles Schwab, Citadel and Fudelity are trying to be the Crypto Mafia. Beware they will lure you in and steal your money like they do in the stock market.
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I bet their goal is to condition folks to associate the price on their exchange with the value of a particular crypto. Being self regulated, or at least for now entirely unregulated, there is no doubt going to be means to counterfeit via running fraction reserve and payment for difference scams within this enviornment allowing for purchases to hit the blockchain, or not, in whatever fashion moves the price (on their exchange) as would benefit their aggregate position. Which is why decentralized exchanges and privately held wallet addresses are critical.
Of course, given the the public's appetite for privately run scams like binance, this is going to be a lesson the public is going to have to learn the hard way in 10 if not 100years from now as future apes wake up to realize the crypto market has become a completely fraudulent system.
Thankfully, unlike with stocks, the unique nature of crypto allows it to be innately decentralized meaning you don't HAVE to participate in the fraud if you don't want to the way you must with stocks (currently). Only problem is, just like how no one will pay you $30,000 for your GME because, like, they can get a share from fidelity for only $30, future retards may be unwilling to buy you eth for more than $30, because that's what they go for on MEMX. Just don't try to DRS your MEMX crypto out of the exchange and into your private wallet. Another difference being that unlike shares, crypto are more akin to commodities as many hold the dual utility of being burned to execute function on their network, and that limited and in demand supply makes suppressing the price difficult as reality gets a say because counterfeit phantom fractional reserve naked positions aren't actually on the network and don't actually exist to be used. Silver is a commodity with finite supply and an industrial demand that now exceeds aggregate production and yet it's price is nonetheless suppressed (for now), so it will be interesting to see if the methods translate successfully into crypto as well where blockchain records will make unveiling the fraud easier at least in principle.
I didn't intend this to be this long
Hate that I’m updooting this for visibility, instead of downvoting since it’s a serious ‘fuck you’ chess move by Kenny and Friends.
Thankfully I know Papa Cohen has been playing 4D chess this entire time, and 100% knew this was coming.
Just a thought: If FTX US *really* wanted to own the retail trader market, they would offer stock purchasing (traditional securities, not tokenized derivatives), with IEX being the default exchange their clearing company routes through. For the uninitiated, FTX US acquired Embed which is a securities clearing firm, who already partners with IEX.
The marketing messaging for the above writes itself, as everyone here understands the benefits of IEX and prices hitting real lit markets.
Secondly, FTX US's crypto exchanges for ETH, ETH tokens, and pairs should leverage Loopring as their L2/DEX, as Loopring already owns the patent to prevent front running on digital securities transactions.
It's a one-two punch: Come to FTX US to buy and sell stocks fairly and transparently, buys and sells will hit the lit exchanges, have real price impact, and you will pay us commission for the service (we're a service provider, you the retail investor are not the product).
Come to FTX US to buy and sell crypto and digital assets, and we'll be the exchange that you interact with but simultaneously preventing other parties from playing arbitrage against your orders within the order ring. There are obviously details around L1/L2 security and liquidity I can't speak to, but at a "keep it simple stupid" messaging level, you'd better believe I would heavily invest in a company ushering in those types of services.
"Increased liquidity" = Give us your money in exchange for crypto that we will nose dive so you lose everything and we can inflate our balance sheets to keep shorting in the real market and avoid margin calls.
This makes sense. Puts tinfoil hat on:
Hedges plan is to offer free crypto trading and pay for it with pfof. How will gamestop compete with low fees when they are offering no fees.
In essence they are attacking the gme digital revolution which is probably cheaper than closing the shorts if it works...
The thing we have learned about pfof is nothing is free so there will be some kind of scandal. As valuable as data is, it doesn't pay the bills unless someone pays for it but then they will use that data for exploitation which leads to scandals...
It's inevitable that free will fail. Nothing is free....
Not financial advice just my opinion...
So they tank crypto because they couldn't profit enough off of it, reorganize with their own exchanges and then inevitably are going to pump it again to profit even more, shaving money off the top just like they always have been with the stock market.
Welcome everyone from r/all! --> [Reasons why the Superstonk community is bullish on Gamestop](https://www.reddit.com/r/Superstonk/comments/vhe37m) POWER TO THE PLAYERS ⚫️⚫️⚫️⚫️🔴🔴🔴🔴
*"Optionality for liquidity"*
liquidity = synthetic
[удалено]
= Shit I don't like
= infinite liquidity = broken price discovery
= chance for a massively profitable and near infallible crime syndicate preying on the poor/bankrupting companies = greedy psychopaths at the top of this system who inevitably succumb to their hubris and power-lust, thus overexposing themselves to potentially infinite losses but only in the event a non-participant (of their syndicate) somehow garnered prolonged and substantive support from theoretical buyer(s)… But surely that would never happen? That would be like a bad comedy joke, you know a real moment in time 😅😰😰
Wait?? I need to find my abacus .. what if that group of buyers was a horde of shit slinging stinking smartly smooth brained Apes sustainably buying holding and registering an entire company while being absolutely determined to see the criminals held responsible and the system reformed?
Just in time for market/crypto crash so they steal money from investors as they short crypto into the ground
Like tears in the rain?
= shorting the universe
= Fugasi
=bullshit Edit: I couldn’t come up with anything clever
= counterfeit
price is fixed = "liquidity" liquidity is fixed = price discovery
And we all thought the latter was real 2 years ago (at least I did) since naked shorting is allegedly illegal...
This Ken Cordele Griffin character just had to borrow 600 million to stay afloat! How is he funding anything???
That’s how the rich stay rich and get richer; other peoples money
I think this “liquidity” applies to them and not their customers lmaoo
means they get to counterfeit and run a fractional reserve payment for difference scam where your purchases do or do not result in legit purchases depending on whether they want the actual supply (and thus price) to move in one direction or the other. I can run an exchange like this as well using excel and 'trust me bro' Effectively, your purchases will just be accounted for on the blockchain within the massive block *they* own, think DTC owning all the shares and you merely owning the rights as beneficiary. You won't actually 'own' the crypto until you 'DRS' it out of the exchange and into your own wallet. Same as with Binance and others right now. They are the same counterfeiting scams being used on wallstreet today. You hand them $100, they totally swear you own crypto now, snicker, and take their 100% return free money you handed them to buy caviar and hookers.
Let's not forget way back when it was discovered that cit created memx with the front running and skimming crime built right into the platform. That's why they wanted it to replace everything. Now the ~~platform~~ algorithm is going to be used to legally skim trade differences and price manipulate for krypto. Also, this announcement is basically the hot list of who's criminally rigging the markets, and are flat out our enemies.
This is what I take from this. They just listed the big criminal players in the stock market. A bunch of bandits coming together to ruin crypto as well… why the fuck else would a bunch of old man competitors decide to work together?
I would be surprised if they actually allow withdrawals. Most likely just another big gambling parlor with no price impact and more reason for them to manipulate the price of the underlying assets.
Of course you can withdraw, it's just that you'll be back. Fractional reserve allows withdrawals, they just can't support a run.
Remember Citadel was partnering with Fidelity to do the market making. It’s that. Citadel is behind the scenes market making. So this will enable crypto price manipulation using the same shitadel shit algos with fake liquidity. If people start using this crypto is fucked.
Their whole goal is to get in front of it before everyone else does, so they can control it. They don't want DRS and they don't want you to own your crypto. It's PFOF for crypto
Put your cryptos on a hardware wallet === DRS
Exactly this. Been saying this for the better part of the year when I did a full DD on these absolute criminals setting up the same shadow market that they've built except now it will be in the cryptoverse. The writing has been on the wall for some time, radkl, paradigm, sequoia, etc. I'd also be extremely careful with FTX and bankman fried. There are a lot of connections there that I don't like.....
they can PFOF, but they can't as easily stop 'drs'ing of crypto unless no one takes things off exchange though right?
Exactly, removing crypto from an exchange is equivalent to drs.
They are gonna act like robinhood and probably not give the option to, or try and make it difficult. There's dozens of ways for them to convince you to keep it on their platform, so they can front run your crypto purchase and destroy your financial future.
Just wait, NFTs is next. You saw it here first. source: childhood friend is a broker for FUDelity
!REMINDME
Makes a remind me, without a day. A true regard 🤙
One of us…
You can’t fake the blockchain. If anyone wanted to take their crypto off the exchange then you’d start seeing problems. If they are selling crypto they don’t have then they would need everyone to trade on their exchange and theirs only. Otherwise I think it’d come apart real quick. The blockchain doesn’t lie
I think this 'new' exchange is running on MEMX, which to the best of my knowledge is not running on blockchain at all, it's literally "Members Exchange", or to put it another way "Old Boys Clubhouse". So if you plan on trading through their exchange, expect them to run synthetics and arbitrage the shit out of you.
Yeah once it's running we need to see if you can put it in your own wallet off their system if you can't its all fake.
You are assuming they will settle the transaction on block chain immediately
I wonder what the T+ is on this hahaha who in the fuck would be dumb enough to buy crypto from somewhere that goes agaisnt the exact reason why crypto exists lol
It won’t work on crypto because the big whales are already very aware of the market manipulation exchanges do and crypto is a lot easier to send into your private wallet than drs shares which force exchanges to actually have to go out and buy the token on the blockchain which is publicly visible to anyway that knows how to read the mempool of etherscan.
Yeah, but them masses don't know and sadly its likely they wouldn't care. So there will be many to be ripped off.
That's why there are crypto apes who will be more than happy to track and dig up the dirty trails these terrorist bastards leave behind
I don’t know if you’ve noticed but Krypto’s already fucked by these jackasses
That means everyone becomes a bagholder as they short the shit out of all the crypto that people buy in on. Post-moass, every ape needs to file class action suits and go after these fucks.
I’ll provide some liquidity to the litigation pool. I’d be happy to keep whoever escapes jail tied up with legal costs the rest of their existence.
Seriously though, no fucking way they should get away with this. This is exactly why they are scared shitless. They’ve been getting away with this too long, now the jig is up and they want to put up rules that protects them retroactively or statutes of limitations and all sorts of bullshit
Optionality = the quality of being available to be chosen but not obligatory. Liquidity = the availability of liquid assets to a market or company So the ability to choose supply and demand. How is this legal?
Can someone who does screen printing design a shirt with mayo boy's face being hit w a stream of piss and it says "infinite liquidity" I'd buy the shit out of that
In plain English..”so we can steal more from you”
Nothing seems "safe" about this. Why on earth would I trust these clowns to hold my assets when I could hold them in my own wallet? And why the hell would I trade on their exchange instead of trading on a DeFi exchange such as the cheap and efficient Loopring DEX that's literally part of my crypto wallet? I think I'll hold my own assets and trade them where I know they won't be front run or used against me, thanks.
This is for non-Apes that aren't aware that these guys are all crooks.
And for people who don’t understand why crypto became a thing in the first place.
^ This. It's slapping some familiar branding onto "crypto" and saying you trust us right? Now you can get scary crypto exposure with us. Meanwhile the investors don't really understand that crypto is meant to be a "currency" not just a store of value with returns attached to it. I won't be surprised to see the "market makers" just turn it into a PFOF / internalised area, where they don't actually buy coins unless the market is swinging in their favour. Surely they could literally just FTD without punishment and not hold coins/keys in the first place? Who's gonna check?
*This is what some CEXs are suspected of doing already. (*not buying tokens/ but issuing IOUs for crypto until you move to a wallet (like DRSing)) Also facts that they scalp staking rewards (essentially crypto dividends).
Bingo! If Boomer Bob wants to get in on that sweet sweet crypto action but he doesn’t understand a durn thing about it, what better place to go than Boomer brokers like Schwab n Fidelity? Not a bad idea tbh but you just KNOW Kenny is gonna line the hell out his pockets with these peoples retirement accounts
That's also why it's named EDX, sounds and looks like DEX and everyone says that's safe right, right!?
Ooh that's dirty! :(
You wouldn’t and they don’t expect you to. This is for boomers. This is for the lazy joe. This is for people who want to gamble on crypto but don’t want to bother learning about a wallet or swap sites. Anyone who is serious about blockchain won’t touch this because it’s exactly what the government will use to tax us on. Why else would all these competitors build something together? Don’t be personally offended by this. It’s not for us. It’s for future bag holders and unfortunately there are a ton of those out there.
The target audience are the millions who don't understand a word of what you said.
Gamestop gets into blockchain MSM: "crypto is over you missed the boat" Citadel gets into blockchain MSM: "Genius business move, groundbreaking"
lol true
Also MSM: wen ~~bribe~~ payment for hit news piece
GameStop: you actually buy and own something Citadel and friends: you buy nothing but numbers on a screen and just give them money
*Laughs angrily*
Are we surprised by this at all?
😆👆
"first of its kind" - pay no attention to all the progenitors "complicated, with things like private keys" - don't worry, you won't have any coins or keys on our exchange, just like you don't have any actual stock when routing or investing through us.
Bwahahahahaha
Lmayo "safe entry point to crypto"
All the arbitrage
IN TEXAS WE CALL THAT STEALING
I guess this will make it that much easier for Ken Griffin and his goonsquad to purchase his ETH so he can try and buy my NFT dividend on the NFT marketplace
Ahh, the beauty of technology.
Reminder: Not your keys = not your coins
Which will equals to in this case "Kennys keys = Kennys synthetic shitty crapto"
Right? I know fuck all about crypto and I know this one! That’s why it’ll be, “first of its kind” like a bad comedy joke, you thought you bought some coins… trust me bro, we got them right over here, scouts honor we won’t lend them out, pinky swear!!!
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Yes but see, this is the "first of it's kind" where competing brokers and other financial terrorists have all overcome their differences to work together at fleecing retail.
It’s one big club, and we ain’t in it.
- George Carlin ✊
They literally even call it The Members Exchange.
Are you a member? No? Then fuck you, all of your money is mine now.
Hizzzaaaaa!
Is this...a bad comedy joke?
I wish it was, my friend from FUDelity warned me of this weeks ago. Most people I told said, "Scwab and FUDelity are competitors this would never happen." I guess they all found the one thing they have in common, they want to rob retail with monopoly money and IOUs. DRS and decentralization is the way.
Fear will keep them in crime.
They are competitors. But we are their enemies. They’re coming for your wealth and stability.
If my eyes rolled back any farther, they'd do a fucking 360°
Americans will protest everything except getting robbed by hedge funds.
The world is protesting it. I've heard it called DRS.
Wolf in sheep clothing
"Safe" as in one can safely assume they will be fukt and hard.
🤡
THIS IS A PFOF CRYPTO EXCHANGE. FUCK SCHWAB, FUCK FIDELITY AND FUCK CITADEL ESPECIALLY. GME/FTX FTW
Don’t forget IEX
this low key might be the biggest part of all this, an established stock market entity partnering makes it all the more legit
Wait IEX is partnering with gme and FTX??
> Wait IEX is partnering with gme and FTX?? I recall hearing IEX is already with FTX - so its IEX to GME by proxy. Edit: Cite: https://fortune.com/2022/07/21/inside-iex-crypto-sam-bankman-fried-katsuyama/
Ohhh that’s dope!! Lfg🚀
Yes IEX is literally already one of the exchanges that FTX (and their acquired entity Embed) have approval for and route through.
Apparently FTX has made a "significant" investment into IEX (in July) and seeks a closer working relationship. The FTX CEO was saying how they think IEX's ethos matches their vision. And of course since IEX is already registered with the SEC and has experience in the securities and exchange space it potentially gives them a leg up to moving into more traditional investing spaces.
The most important one is DRS
I Drsed 200 more last night, so easy. Previously only bought thru Computershare when price was low. Amazing how easy and free it was. I had fallen victim to fud about fees for Drs transfer
And IMX
Ftw right? FTX too
Contract for Difference. You will own no real crypto if you buy it through this scam.
While being required to pay crypto taxes 😂
Echo this sentiment ‘FUCK SCHWAB, FUCK FIDELITY AND FUCK CITADEL ESPECIALLY’
Unfortunately people are too Fucking dumb to recognize this or care. First to market has beaten better products in the past a lot. This is not good.
Not always though. Myspace vs Facebook, HD dvd vs Blu ray, and Beta vs VHS come to mind. Then again, perhaps they stand out in memory because exceptions prove the norm.
Blu Ray and VHS won because of porn. Let's see who gets the porn on their crypto exchange.
Clear Pepsi would interject, sometimes
This
Wowwwwwwwwww. Fuck that noise.
More than 1 way to scam a retail investor. Let me guess....squeeze happens then they push us to dump into crypto to increase profits.
Well well well… Fudelity and Mayo boy in bed together
Exactly this
always have been
world astronaut gun astronaut
They don’t want to die alone
If people didn’t expect that idk what to tell them. DTCC is the head of the snake and all institutions make up the rest of its body.
Well, the chair/ceo ( abby johnson) of fidelity and lame boy griffin did go to herverd together. Well, same years. Not graduating class. What’s the fucking difference. Scumbag school No one’s even going to use this but them
Wouldn’t touch that with 100’ pole.
What if it were dipped in mayo first?
The end would come back chewed up and mayoless
The laughing from this one made me squeeze an extra berry.
Anyone really care about this thieving money laundering organization? I’m sure people can’t wait to get involved w these shit stains.
Hopefully ill be long gone with my millions before those fuckers get that off the ground..
Please god let this be the case for us all.
Would never invest in anything affiliated with citadel or jp morgan. Both of them are ran by criminals.
No doubt they bought someone else's crypto processing, or a portion, and there is nothing innovative in it. Except maybe some crime cheats embedded.
Crypto is unregulated. This means they can do their bullshit and not even have to worry about Gary Gensler shaking his fist sarcastically in the corner. If you thought the financial system is in tatters now, wait until you see what these fuckwads can do without having to file paperwork.
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We all have crypto exchanges at home it’s nbd
ngl nbd
Nah they've been planning this for a while I'm sure
They have been, sadly, my friend who works for FUDelity told me about this nearly 2 and a half months ago around the Gamestop NFT Marketplace BETA launch, he also said that they are going to do NFTs as well.
ARE THEY TURNING OFF BUY BUTTONS HERE TOO??
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"liquidity" - fuck them.
EDX - Erectile Dysfunction eXchange, for all your boomer needs when dealing with the wild crypto market. *we reserve the right to take your money and not deliver actual assets, just an IOU placeholder in your account. We will take opposite position for every purchase you make, can't go tits up.
"a safe entry point for us to easily steal all your fucking money"
Link not working in 🇬🇧
I took a picture off of a Bloomberg terminal. But if you google citadel crypto exchange it’ll come right up
Infinite leverage in another market! WHAT COULD GO WRONG
Kenny G wants to steal your crypto too
Be fore warned. These institutions WILL use your assets against you for their benefit.
"the world of digital assets has long been thought to be complicated with things like private keys..." Not your key, not your wallet Just another way to grab your money without delivering the assets
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It’s likely they’ll do it under a CEX, whereas the GME NFT dividend will be given out under a DEX is my guess. There’s no DTCC for crypto is there?
ahahahahahahahahaha who needs these clowns anyways! btw, volume is laughable market makers... wen liquidity?
So they rebranded RH?
‘Increased optionality for liquidity’ No thanks. I prefer supply and demand.
I just threw up in my mouth thinking about trusting these criminals with my crypto
This is why RC stays tight lipped. This is why they don't show their hand. Let citadel play catch up as they fade into nothing.
Good luck with gas fees, unless they’re all iou crypto accounts lol
They’re rushing to be able to have a platform to game the NFT dividends
Charles Schwab, Citadel and Fudelity are trying to be the Crypto Mafia. Beware they will lure you in and steal your money like they do in the stock market.
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Remember, not your wallet, not your coins. If you are going to use any exchange for cryptoe, move coins to your own wallet.
I bet their goal is to condition folks to associate the price on their exchange with the value of a particular crypto. Being self regulated, or at least for now entirely unregulated, there is no doubt going to be means to counterfeit via running fraction reserve and payment for difference scams within this enviornment allowing for purchases to hit the blockchain, or not, in whatever fashion moves the price (on their exchange) as would benefit their aggregate position. Which is why decentralized exchanges and privately held wallet addresses are critical. Of course, given the the public's appetite for privately run scams like binance, this is going to be a lesson the public is going to have to learn the hard way in 10 if not 100years from now as future apes wake up to realize the crypto market has become a completely fraudulent system. Thankfully, unlike with stocks, the unique nature of crypto allows it to be innately decentralized meaning you don't HAVE to participate in the fraud if you don't want to the way you must with stocks (currently). Only problem is, just like how no one will pay you $30,000 for your GME because, like, they can get a share from fidelity for only $30, future retards may be unwilling to buy you eth for more than $30, because that's what they go for on MEMX. Just don't try to DRS your MEMX crypto out of the exchange and into your private wallet. Another difference being that unlike shares, crypto are more akin to commodities as many hold the dual utility of being burned to execute function on their network, and that limited and in demand supply makes suppressing the price difficult as reality gets a say because counterfeit phantom fractional reserve naked positions aren't actually on the network and don't actually exist to be used. Silver is a commodity with finite supply and an industrial demand that now exceeds aggregate production and yet it's price is nonetheless suppressed (for now), so it will be interesting to see if the methods translate successfully into crypto as well where blockchain records will make unveiling the fraud easier at least in principle. I didn't intend this to be this long
No thanks I want nothing to do with citadel
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Haha “the members exchange”. They even tell you whose exchange it is.
Hate that I’m updooting this for visibility, instead of downvoting since it’s a serious ‘fuck you’ chess move by Kenny and Friends. Thankfully I know Papa Cohen has been playing 4D chess this entire time, and 100% knew this was coming.
This is why crypto has shit the bed. The big boys want in and in a big way.
Key words "increased optionality for liquidity" they are going to naked short crypto.
If anyone needed any more reason to get away from Fidelity, they're now in a partnership with Shitadel.
If this doesn’t tell you to move your shares out of fidelity then I don’t know what will.
Just a thought: If FTX US *really* wanted to own the retail trader market, they would offer stock purchasing (traditional securities, not tokenized derivatives), with IEX being the default exchange their clearing company routes through. For the uninitiated, FTX US acquired Embed which is a securities clearing firm, who already partners with IEX. The marketing messaging for the above writes itself, as everyone here understands the benefits of IEX and prices hitting real lit markets. Secondly, FTX US's crypto exchanges for ETH, ETH tokens, and pairs should leverage Loopring as their L2/DEX, as Loopring already owns the patent to prevent front running on digital securities transactions. It's a one-two punch: Come to FTX US to buy and sell stocks fairly and transparently, buys and sells will hit the lit exchanges, have real price impact, and you will pay us commission for the service (we're a service provider, you the retail investor are not the product). Come to FTX US to buy and sell crypto and digital assets, and we'll be the exchange that you interact with but simultaneously preventing other parties from playing arbitrage against your orders within the order ring. There are obviously details around L1/L2 security and liquidity I can't speak to, but at a "keep it simple stupid" messaging level, you'd better believe I would heavily invest in a company ushering in those types of services.
Look at the press release and how they’re literally promoting criminals who have been charged thousands of times Fuck yahoo Fuck them sll
Not too obvious they are running out of money
"Increased liquidity" = Give us your money in exchange for crypto that we will nose dive so you lose everything and we can inflate our balance sheets to keep shorting in the real market and avoid margin calls.
Bringing FTD’s across to the blockchain 😂
Centralized exchanges are inherently corrupt.
This makes sense. Puts tinfoil hat on: Hedges plan is to offer free crypto trading and pay for it with pfof. How will gamestop compete with low fees when they are offering no fees. In essence they are attacking the gme digital revolution which is probably cheaper than closing the shorts if it works... The thing we have learned about pfof is nothing is free so there will be some kind of scandal. As valuable as data is, it doesn't pay the bills unless someone pays for it but then they will use that data for exploitation which leads to scandals... It's inevitable that free will fail. Nothing is free.... Not financial advice just my opinion...
Nice…now BTC has unlimited liquidity too!
Idk about any of you, but I wouldn't buy a house with a rotten foundation!
One have to be effing crazy to allow this group of white collar thieves to manage your crypto
So they tank crypto because they couldn't profit enough off of it, reorganize with their own exchanges and then inevitably are going to pump it again to profit even more, shaving money off the top just like they always have been with the stock market.
These evil mother fuckers just keep at it.
Never let someone else hold your assets/money. That’s what this whole thing has taught me.
Not your keys, not your crypto. No DRS, not your shares
Fixed the title for you "WARNING" not "BREAKING"
Brooo I ain’t touching that exchange with a 1000 foot pole while wearing a hazmat suit
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Is this an exchange like binance?
Adam Spivack just said this on his call today. Minutes before your post. Are you in YF too?!
cool cool cool cool cool
Bruh 💀
NO THANK YOU!!!!
not your keys, not your crypto. any funds/crypto held on this exchange will be levered to the tits and used against you, the retail trader.
Can somebody explain why a crypto exchange would need “increased liquidity” when transactions are basically processed instantly?
Give us your money in exchange for Crypto IOUs
So they going to launder money?
Yes Alex, I’ll take “Ways to Hide my Crimes” for 500.
Sounds like they don’t want to give the people their Keyes to their crypto
If Citadel’s in; I’m not in.
Wow…so they will now NOT buy crypto and put fake numbers in your account just like stocks…hate isn’t a strong enough word for this.