Discover and read the best of Twitter Threads about #cftc

Most recents (24)

😲若监管不明确,#Coinbase 可能会离开美国?

伦敦金融科技周上,英国前总理George Osbourne 寻问 #Coinbase CEO Brian Armstrong是否能看到Coinbase离开美国?
#Coinbase CEO Brian Armstrong 回复表示

Brian Armstrong 还表示,

英国监管透明度有更高的优势——因为只有一个负责监管负责商品和证券的金融行为监管局 (#FCA)。

但美国有2个监管机构:商品期货交易委员会(#CFTC) 和证券交易委员会 (#SEC)。

英国人就不会遇到CFTC 和 SEC抢地盘这种不幸的事情。😐😐
Read 4 tweets
🚨 #CryptoCom is who $MCB is banking fren... All that USD flowing into and out of the American banking system seems to pass through them. And they are STILL banking #CryptoCom according to #CDC's own site.

Reminder that #CryptoCom and #Binance are (or at least were) basically the same company), off chain edition by @Annihil4tionGod:…
Reminder that #CryptoCom and #Binance are (or at least were) basically the same company), on chain edition by @BoringSleuth:
Read 11 tweets
Just read the #CFTC legal complaint against #Binance.

If you are too busy to read the 70 pages+ legal filing, here are some key takeaways you need to know: 

1/ the @CFTC states that #Bitcoin, #Ethereum and #Litecoin are commodities. This is interesting considering that SEC chair @GaryGensler said only a couple of days ago that he believes Ethereum is a security.
2/ the CFCT alleges that CZ is personally involved in details of @binance’s day-to-day (even approving a $60 office expense). The CFTC explicitly mentions that “(CZ) answers to none but himself. Binance has no board of directors.”
Read 22 tweets
It's interesting to look at what #CFTC is asking the court for in the #Binance complaint:

1. Stop all trading immediately
2. Give us all the money
3. Actually give us more than all the money
4. Including salaries of all executives (lol @prhillman)
5. Jury trial ImageImageImageImage
@prhillman 6. No one associated with #Binance in any form should ever be allowed to trade commodities, futures, or other derivatives in the American market ever again ("permanent injunction")
* small correction: @PRHillmann is Binance US's CSO not CEO
Read 4 tweets
Pascale Coton , négociatrice #retraites de la #CFTC et n2. « Je n’ai rien proposé pendant les concertations!? » en reac au discours PR. «Mon téléphone n’arrête pas de sonner. Ils n’ont pas du tout apprécié les propos d’Emmanuel Macron . La colère est très grande cet après-midi”
Propos sur BFMTV
Read 4 tweets
1st Week of 2023 - went opposite to what I expected. Oil had a correction while bonds got bought in size, stocks were mostly flat, caught a bid on Friday:
Equity sentiment deteriorated some more, and is now on the edge between neutral and pessimistic:

#NAAIM survey down to 38.8
#Rydex ratio up 0.04 to 0.32
#CFTC futures dealers were -3.8% net short
In options
#VIX is a neutral 21.13
#MaxPain for SPY sits at 385
Fed liquidity dropped in size, 120 billion down, led by Fed QE effort. Modelled SPX fair value is down to 3614, last time we had such a disconnect from the model was 1 Dec 2022
Read 6 tweets

Evidence is mounting that Sam Bankman-Fried's #FTX completely co-opted the US Commodity Futures Trading Commission - a situation that may be ongoing and include SEC Chair Gary Gensler. Was the CFTC a subsidiary of FTX?

#SBF hired Ryne Miller (@_Ryne_Miller) the former Legal Counsel to US Commodity Futures Trading Commission Chairman Gary Gensler to serve as FTX's General Counsel - the former government regulator is still with #FTX. (Picture is an #NFT of Ryne) Ryne Miller General Counsel at FTX US

#SBF hired Mark Wetjen (@markwetjen) the former Chairman and Commissioner of US Commodity Futures Trading Commission to serve as FTX's Head of Policy and Regulatory Strategy - he is still a director at LedgerX, an FTX subsidiary. Mark P. Wetjen is an American lawyer. In 2011, he was nomina
Read 11 tweets
1/SBF y FTX están llevándose toda la atención mediática. Mientras, está pasando desapercibido otro tema que puede sentar precedentes en crypto.
CFTC v Ooki DAO (O el increíble caso del Regulador que notificó una citación a una DAO a través del chat de ayuda de la web.
Increíble? Image
Bienvenidos al #LegalWeb3 donde, independientemente de gustarte más o menos los Criptoactivos o la Blockchain, desde luego no vas a aburrirte.
En este capítulo el futuro de las DAOs.
Para contextualizar, en USA actualmente hay dos reguladores peleandose por la jurisdicción sorbre los Criptoactivos, la #SEC y la #CFTC. Dentro de la industria #Crypto siempre se ha visto a la SEC como la más intrusiva y law enforcer y la CFTC como la más alineada.
Read 25 tweets
In August 2022 @RishiSunak left a bitter taste in the mouths of Turkish Cypriots as his anti-Turkish letter to the so-called “Conservative Friends of Cyprus” was released to the public.

Now he is the UK’s Prime Minister…

#RishiSunak #PrimeMinister #TurkishCypriotsExist #Cyprus
In his letter, Sunak revealed his very misinformed and narrow minded view on the Cyprus issue. It was filled with historical falsehoods regarding the events of 1974 and a lack of awareness surrounding current issues such as Varosha and the drilling within the EEZ’s.

@BTCAOfficial The British Turkish Cypriot Association responded to @RishiSunak letter immediately after. However, the new Prime Minister never replied. Unfortunately this suggests his anti-Turkish views on the Cyprus issue are true…

#RishiSunak #ToryLeadershipContest
Read 4 tweets
1/ We are back with another weekly thread. Here is a recap of what happened in the #crypto world 🌎 this past week. Image
2/ #CFTC targets unregistered future exchanges, charges Digitex for running an unregistered futures exchange & manipulating the price of its $DGTX token. Image
3/ Kim Kardashian settled #SEC charges for unlawfully promoting Ethereum Max & paid $1.26 million as fee. Image
Read 11 tweets
Now in US v Alexandre #crypto fraud case, former prosecutor Emil Bove argues that #CFTC chats are subject to discovery. Courtroom full with #EminiFX supporters: Inner City Press only in-house media here, thread below
Bove argues the receiver coordinated with law enforcement, had laptop seized for Alexandre's residence. He repeatedly calls the AUSAs "these guys."
Bove tells Judge Cronan, You know better than I do that the @StateDept can move faster than a year [under MLAT]. Pooled CJA counsel for witnesses?
Read 5 tweets
#Tether - Let's take a look at the team that created USDT and their strange connections - #illegal ones. 🧐

➡️ Origin, core-team and shady connections/frauds

This is a continuation of the last thread, which you can find below ⬇️

[2/x] CHAPTER ONE - #NYAG INVESTIGATION - In the Bitfinex and Tether fraud case

Tether claimed at the outset that it would cooperate with the NYAG, after which it obstructed the handing over of relevant documents and prolonged the process.
Read 29 tweets
4 RICO not suave
#JPMorgan traders
go on trial today🧵


US DoJ claims PM mkts 'were' criminal
JPMorgan still dominates US precious metals derivative mkt share

This topic is way deeper than mere greed

- -
2 Bloomberg reporters tagged below Image
💣former London gold trader
precious metals mkt makers increasingly use unsecured derivatives to subvert mkt forces, now decades running:…
"Once investors swallowed this stupefying pill it was easy to sell them gold that simply didn’t exist." Image
paid a paltry $920 million fine
for the US Department of Justice's 8 yr RICO precious metals rigging indictment 2008-2016

US Office of the Comptroller of the fiat Currency
often known by the acronym OCC just acknowledged Q1 22 that +90% of PM derivatives = JPMorgan/Citi Image
Read 31 tweets
CRYPTO IN THE COURTS: BitMEX Benjamin Delo is now up for sentencing, after arthur Hayes citing the Jackie Robinson Foundation got 6 months home confinement… Inner City Press will live tweet, thread below
Delo's lawyer: Even home confinement is unnecessary. He is a British citizen, here on a tourist visa. He cooperated with the #CFTC.
Defense: Ben was living in Hong Kong. He gave money to Oxford.
[There are more than a dozen suited persons here in the gallery]
Judge: Didn't he know there were US persons im the platform?
Defense: He didn't encourage it
Read 5 tweets
CRYPTO IN THE COURTS: Now at arraignment of Eddy Alexandre, out on $3M bail with former SDNY prosecutor Emil Bove as his lawyer. Inner City Press has covered… and will live tweet, thread beloe
Judge Cronan: I was Mr Bove's supervisor.
[Gives 2 weeks to object.
Courtroom jammed; there's a T-shirt "We Support Our CEO"]
Alexandre: Not guilty.
Judge Cronan: Mr Bove, are there any conditions I should loosen?
Bove: I'll deal with Pre-Trial Services
AUSA Folly: Defendant ran #EminiFX - a Ponzi. We have video.
Read 4 tweets
A longer tweet than i am usually accustomed to…

#Bitcoin was born out of the Great Financial Crisis as a solution to the perceived failures of fiat & centralized systems.Bitcoin’s price is very volatile, so to gauge how well it is faring, we need to view the big picture: 🧵

Michigan consumer sentiment just came out at 50—The lowest score in 85 years.

Inflation is at a 40-year high—Even by new metrics that bias it to the downside.

Jobs, up from last year, are still lower than before the pandemic, and the stock markets are starting to roll over.

"𝑰 𝒅𝒐𝒏'𝒕 𝒕𝒉𝒊𝒏𝒌 𝒕𝒉𝒆𝒓𝒆'𝒔 𝒃𝒆𝒆𝒏 𝒂𝒏𝒚 𝒈𝒓𝒆𝒂𝒕𝒆𝒓 𝒆𝒏𝒈𝒊𝒏𝒆 𝒐𝒇 𝒊𝒏𝒆𝒒𝒖𝒂𝒍𝒊𝒕𝒚 𝒕𝒉𝒂𝒏 𝒕𝒉𝒆 𝑭𝒆𝒅𝒆𝒓𝒂𝒍 𝑹𝒆𝒔𝒆𝒓𝒗𝒆 𝑩𝒂𝒏𝒌 𝒐𝒇 𝒕𝒉𝒆 𝑼𝒏𝒊𝒕𝒆𝒅 𝑺𝒕𝒂𝒕𝒆𝒔 𝒕𝒉𝒆 𝒍𝒂𝒔𝒕 11 𝒚𝒆𝒂𝒓𝒔."

- Stan Druckenmiller, August 23, 2021

Read 31 tweets
A bipartisan #crypto bill was introduced yesterday, 7 June 👀📝

Also known as the Responsible Financial Innovation Act, @SenLummis and @SenGillibrand proposed a regulatory framework for digital assets in the bill. Here are the key takeaways in case you missed it:

1️⃣ Definitions

The bill recognizes #crypto as digital assets and makes a clear distinction between tokens that are considered securities vs. commodities. The class a token falls into will be evaluated by its purpose and the rights conveyed to its holders.

Based on the legislation, most #cryptocurrencies like #Bitcoin and #Ether are defined as "ancillary assets" which fall under commodities.

Read 13 tweets
After reviewing this document from the Presidents Working Group on financial markets discussing StableCoins future regulatory framework, I’ve got some opinions on how this all will probably play out. #cryptocrash #crytpo #sec #cftc #fomc $mstr…
Firstly regulation is coming even though the crypto believers don’t want to accept that it will.

@GaryGensler has clearly (ominously for the crypto world) stated that throughout history there have been attempts for private banks and currencies to operate outside of public regulations and all have failed. Basically saying crypto and exchanges will be regulated or destroyed
Read 50 tweets
🚨 #Tether is already violating the terms of its settlement with @CFTC. They are making public statement denying & misrepresenting the findings and conclusions of the CFTC Order. Please #Retweet. /1
They falsely claim that the CFTC order didn't find any "issues relating to Tether’s current operations." FALSE. CFTC scope of investigation included the time period from Jun 1, 2016 - Feb 25, 2019. Therefore, CFTC did not investigate any activities before & beyond this period. /2
#Tether falsely claims that "there is no finding that tether tokens were not fully backed at all times". This is not true. #CFTC has proven beyond a reasonable doubt that Tether lied. Below is evidence from the Press Release, the actual Order, and the Statement by Commisioner. /3
Read 6 tweets
🚨 BREAKING: #CFTC orders #Tether and #Bitfinex to pay fines totaling $42.5M. Tether will pay $41M over claims that #stablecoin was fully backed by US Dollars. #Bitfitnex will pay $1.5M for illegal transactions and violation of prior CFTC Order.…
"The order requires Tether to pay a civil monetary penalty of $41 million and to cease and desist from any further violations of the Commodity Exchange Act (CEA) and CFTC regulations, as charged."
"As found in the order, Tether held sufficient fiat reserves in its accounts to back USDT tether tokens in circulation for only 27.6% of the days in a 26-month sample time period from 2016 through 2018."
Read 7 tweets
I had a journalist actually tell me they had to "tread lightly" on the government because that is where they get all their stories from. Govts & #DOJ/#FBI/@UKSFO/@TheFCA master manipulators using leaks and quid-pro-quo's to 'mainstream' lies. #Libor a great example.
There will be more to this story to add as my case moves along. @business (Bloomberg) had my indictment and spoke about it while it was STILL SEALED. I was in #DOJ/#FBI custody, AWAITING indictment to be unsealed (so I could read it) while it was discussed on air. 100% illegal.
This #DOJ/#FBI leak in my #deutschebank #Libor case caused all senior executives to clam up tighter than a frogs ass. That allowed govt to target the junior #scapegoats with impunity because they could then suppress evidence/truth that came out AFTER trial…
Read 7 tweets
Rabobank 1/9: #CFTC Commitment of Traders Report
Speculators’ net #USD positions held in positive territory for the 4th consecutive week, though overall size dropped moderately along with the softer tone of the greenback in the spot market. Previous to this the market had not had
Rabobank 2/9: a run of net long positions since June 2020. The USD has been one of the best performing G10 currencies this year reflecting reflation optimism and a shift in expectations regarding Fed rates policy.

#EUR net longs dropped to their lowest level since March 2020.
Rabobank 3/9: Concerns about the speed of the vaccine roll-out programme in #Eurozone have been constraining expectations regarding the economic recovery in the region as fears about a third wave spread. ECB has brought forward bond purchases to push down the level of bond yields
Read 9 tweets
Yesterday, at the conclusion of my #NYU class discussing #Governance of #Bitcoin and #Cryptocurrencies, I posted this slide, summarizing my thoughts about what the #US can do to improve its #law and #policy related to #Crypto. A #thread on what we can and should fix:
First, establish an government wide-policy. What do we want? Are we pro -innovation? Do want to protecting consumers? Do we want to strike a balance in the middle?Do we want to facilitate experimentation? How much control will the govt take over these experiments? /2
Do we want to make it easier or harder to launch businesses/reach consumers? To make an effective policy, we either need an interagency group, or a new freestanding group focused on the subject. Whoever tackles it, step 1, what do we want? /3
Read 29 tweets
Rabobank 1/8: #CFTC #CommitmentofTraders Report:
Net #USD short positions were little changed last week though a modest increase was recorded. Net shorts remain near recent highs and are therefore not reflecting this year’s improved performance of the USD in the spot market.
Rabobank 2/8: Focus is on the size of the Biden fiscal giveaway and the relative success of vaccine roll-out programmes. Rising inflation expectations appear out of kilter with the Fed’s very cautious tone.
#EUR net longs dropped back sharply. In spot market it appears that
Rabobank 3/8: the EUR is being undermined by the slow vaccine roll-out programme in the EU. This is supporting talk that the region could fall behind in the reflation trade.
Net #GBP long positions edged higher but remain below recent highs.
Read 8 tweets

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