On Dec. 4, 2022, a report details that FTX-based synthetic stocks may have been used to manipulate the value of AMC shares.
In May 2021, FTX offered 36 tokenized stocks, but speculators believe it’s questionable whether or not the firm actually held the real stocks in the first place.
FTX has been under the microscope ever since the exchange collapsed during the first week of November 2022.
Since then, there’s been a lot of information to process, and new information released.
On Sunday, a report details that tokenized stocks listed on FTX may have been used to “manipulate the price of AMC shares.”
The publication thechainsaw.com and its report show that while FTX’s terms of service said the firm’s synthetic stocks were backed 1:1, that may not have been the case.
“FTX listed wrapped AMC token[s] for trading on its synthetic derivatives trading platform,” The Chainsaw said on Twitter.
Additionally, thechainsaw.com published another report that details that Gamestop and Tesla shares could have been manipulated as well.
Furthermore, the researchers note that the leaked FTX balance sheet disclosed by the Financial Times (FT) shows the company only holds Robinhood (HOOD) shares.
There’s no documentation (as of right now) that’s been made public that shows FTX actually owned any of the 36 tokenized stocks it listed.
Source(s): Bitcoin.com.
No Proof of AMC Ownership
There are no signs of AMC Entertainment signing an agreement to the AMC FTX Token listed on the FTX crypto exchange.
When viewing the terms of service and terms of the tokenized stock product (AMC), users are prompted to error pages.
Now, there is no official FTX website as it has been changed to a ‘help concierge‘.
The sale of an AMC token was a scam.
But I’m curious to know your thoughts on this matter.
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I would trust a drug dealer to do the right thing over the sec going anything good. The sec and wallstreet are financial terrorists, prove me wrong.
The SEC is a corrupt government agency.Gary Gensler is a worthless POS.
Hold!!!! The price isn’t real. The value of this stock is above listed price in my opinion. Not financial advice.
More exposed crime I’m sure the sec knew all about it. Crime from top to bottom. No integrity in the market. Ken are you next, side by side cells for Sam and Ken
The stock market is the biggest PONZI scheme in all of man kind history. The sec does nothing and actually helps criminals like these continue to profit off of this broken system. ELON RELEASE THE FILES ON THE STOCK MARKET AND THE SEC!!!
Is this manipulation the smoking gun. What does the SEC actually do beside making complicity anti-retail videos.
They promoted this SBF character on all the financial shows , especially CNBC to my recollection, and steered everyone right into the money pit. Do yourself a favor don’t watch those fraudsters on CNBC.
Personally I’m sick and tired of hearing about all the shit that’s taking place and not a damn thing being done about none of it. Therefore, what the fuck difference does any of it make.
I also want to thank hedge funds for dragging this out, I have cut alot of junk out of my weekly budget, and live on less ,allowing me to purchase more shares, I started small, now I own quite a few shares.
I just bought 400 more shares of AMC!! Let’s all hold until it doesn’t have anywhere to go but up, up, up!!!
Remember… It’s only a crime if the small man does it, if a big company does it it’s automatically business. I will keep buying and holding. Started with only 20 shares, I recently became a xxxx hodler. I have to thank hedges though. I quit smoking and have basically quit alcohol too. Putting all the extra cash in AMC. I can hold until the pressure chamber explodes.
We all know this manipulation with AMC has been going on with all these hedge funds. My question is when are they going to do something about it and let us poor retailers recoup our fair price? It’s disgusting how the SEC lets all this corruption continue!
The SEC is complicit in every way possible. It’s their job to identify these activities and put a stop to them.
Let’s start a discussion! Leave your thoughts below.