This is absolutely MASSIVE.
Manipulation in the crypto is finally ending.
Ten foreign nationals have been charged by the US Justice Department for manipulating the crypto market.
These ten executives and employees are from four different crypto “market makers”: Gotbit, Vortex, Antier, and Contrarian.
The indictments allege these people conspired to inflate the trading volume and price of tokens and profited through the sale of the cryptocurrencies at inflated prices to unwitting investors. These so-called pump-and-dump schemes caused losses to investors in the United States and elsewhere.
Three of the accused, including two CEOs, were recently arrested and extradited from Singapore to the United States.
To make it simple:
- These guys pump the price with fake volume
- Then trap retail investors at higher prices
- Then dump on them
- Rinse and repeat
These market makers are the reason why crypto has been dumping nonstop for months. They do a crazy amount of paper trading to suppress the price and profit from it.
Today, the Commission issued an order allowing broker-dealers to pledge a diversified basket of Russell 1000 and/or S&P 500 equities as collateral when borrowing securities.
More info below. ⬇️
BREAKING: Iran threatens to close Bab al-Mandab alongside the Strait of Hormuz if the U.S. launches a ground operation.
This changes the scale of the energy crisis entirely.
- Bab al-Mandab links the Red Sea to the Gulf of Aden, the 4th largest shipping chokepoint in the world
- 12% of global seaborne oil flows through it
- Combined with Hormuz, a dual closure would disrupt roughly 25 million barrels per day, around 25% of global oil supply
Say hello to Romeo, the world's oldest manatee!
Romeo resides at the Gulfarium on Okaloosa Island, Destin/Fort Walton Beach, Florida and is at least 71 years old.