Article: Chinese regulator halts Huya-Douyu game-streaming merger

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Chinese regulator halts Huya-Douyu game-streaming merger

Zen Soo, 09 July 2021

HONG KONG – China’s market regulator on Saturday blocked the merger of Tencent-backed game streaming platforms Douyu and Huya following an anti-monopoly investigation, as authorities ramp up scrutiny of some of the country’s biggest technology companies.

Huya and Douyu — which provide videogame live-streaming services akin to Twitch in the U.S. — are two of the largest companies of their kind in China. Both count gaming firm Tencent among their investors. Continue reading “Article: Chinese regulator halts Huya-Douyu game-streaming merger”

Article: SEC charges three people for Long Blockchain Corp insider trading

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SEC charges three people for Long Blockchain Corp insider trading

Patrick Thompson, 09 July 2021

In December 2017, at the peak of the era that many refer to as ‘crypto mania’, New York-based beverage maker ‘Long Island Ice Tea’ changed its name to “Long Blockchain Corp. At the time of the rebrand, the beverage maker said they would transition out of manufacturing beverages and focus their efforts on blockchain technology.

After the rebrand, shares of Long Blockchain Corp rocketed upward by more than 380% intraday–unfortunately, Long Blockchain Corp never transitioned into producing blockchain technologies; which is one of the reasons that three individuals connected to the company have just been charged with insider trading related to the Long Blockchain Corp stock. Continue reading “Article: SEC charges three people for Long Blockchain Corp insider trading”

Article: Is Discord the Next r/WallStreetBets? 5 Stocks That Suggest That’s the Case

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Is Discord the Next r/WallStreetBets? 5 Stocks That Suggest That’s the Case

Thomas Yeung, 09 July 2021

If you want to become a day trader, I don’t blame you. People who consistently earn several percentage points per day can become wealthy beyond belief. Crypto arbitrageur Sam Bankman-Fried recently became a minor celebrity after revealing he was a billionaire by age 29.

Typically, professional traders like Mr. Bankman-Fried are either exploiting price differentials or using some form of statistical arbitrage. That’s when investors profit from minor pricing divergences across different exchanges or assets. Continue reading “Article: Is Discord the Next r/WallStreetBets? 5 Stocks That Suggest That’s the Case”

Article: Cryptocurrency Fraudster Sentenced To 15 Years For Money Laundering And Securities Fraud In Multi-Million Dollar Investment Scheme

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Cryptocurrency Fraudster Sentenced To 15 Years For Money Laundering And Securities Fraud In Multi-Million Dollar Investment Scheme

Department of Justice, 09 July 2021

SAN FRANCISCO – Roger Nils-Jonas Karlsson, citizen of Sweden, was sentenced today to 15 years in prison for securities fraud, wire fraud, and money laundering charges that defrauded thousands of victims. The court also ordered the defendant to forfeit several properties in Thailand, including a resort, and a forfeiture money judgment of more than $16 million. The sentence was handed down by the Hon. Charles R. Breyer, U.S. District Judge.

Karlsson, 47, pleaded guilty to the charges on March 4, 2021, without a written plea agreement. According to court documents, Karlsson ran an investment fraud scheme from 2011 until his arrest in Thailand in June 2019. Karlsson induced victims to use cryptocurrency such a Bitcoin and other online payment platforms to purchase shares in a scheme he called “Eastern Metal Securities.” Karlsson promised victims astronomical returns tied to the price of gold. Instead, the funds provided by victims were transferred to Karlsson’s personal bank accounts, and he then used proceeds to purchase personal items including expensive homes, a racehorse, and a resort in Thailand. Karlsson’s fraud targeted financially insecure investors, causing severe financial hardship for many of them. Meanwhile, Karlsson went to great lengths to prolong his scheme, including rebranding, offering updates and account statements that provided assurances to the victims that their assets were secure, and offering explanations for the payout delays – including falsely claiming to be working with the Securities and Exchange Commission. In addition, the government’s filings in the case describe Karlsson’s attempt to launder the proceeds of his fraud by using multiple aliases and shell companies, layering transactions through cryptocurrency wallets and exchanges, and using offshore accounts and properties. The government argued in its sentencing memorandum that Karlsson’s cryptocurrency Ponzi scheme is one of the largest such schemes the government knows to have been sentenced. Continue reading “Article: Cryptocurrency Fraudster Sentenced To 15 Years For Money Laundering And Securities Fraud In Multi-Million Dollar Investment Scheme”

Article: Dark Web User Known As “The Bull” Charged In Insider Trading Scheme

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Dark Web User Known As “The Bull” Charged In Insider Trading Scheme

Department of Justice, 09 July 2021

Audrey Strauss, the United States Attorney for the Southern District of New York, and William F. Sweeney Jr., Assistant Director-in-Charge of the New York Field Office of the Federal Bureau of Investigation (“FBI”), announced today the unsealing of a criminal indictment and a criminal complaint charging APOSTOLOS TROVIAS, a/k/a “The Bull,” with securities fraud and money laundering in connection with his scheme to solicit and sell stock trading tips and pre-release earnings and deal information regarding public companies.

Manhattan U.S. Attorney Audrey Strauss said: “Today’s charges demonstrate our Office’s continuing commitment to stopping those who pursue and use inside information to gain an illegal edge in the stock market. As alleged, Apostolos Trovias attempted to hide his insider trading scheme behind anonymizing software, screennames, and bitcoin payments. The Indictment and Complaint unsealed today show that committing insider trading using new technologies still produces a decidedly traditional outcome: a criminal indictment.” Continue reading “Article: Dark Web User Known As “The Bull” Charged In Insider Trading Scheme”

Article: China targets offshore IPO structure, to require ministry approval -sources

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China targets offshore IPO structure, to require ministry approval -sources

Reuters, 09 July 2021

China’s securities regulator is setting up a team to review plans by Chinese companies for initial public offerings (IPOs) abroad, sources with knowledge of the matter said, including those using a corporate structure which Beijing says has led to abuse.

Chinese companies looking to list offshore will also need approval from the relevant ministry, the sources told Reuters, in a break from a decades-old arrangement that did not require them to seek a formal go-ahead from any authorities in China. Continue reading “Article: China targets offshore IPO structure, to require ministry approval -sources”

GTII and FNGR disgusting trading from yesterday

Commentary

Alert Reader writes in:

GTII.. The stock was trading like a normal stock even with all the naked shorting going on Then they sold 55,000 at the market down from $1.55 ot

$1.37 Just to try and get longs to panic. Who takes a $10K just to do that? A naked short in Huge trouble, Anyway they changed the price for a few and buyers

Stepped back in to close it back to $1.47 instead of a day ion the Black we closed in the Red down a penny To longs a nonevent day BUT the short is 1000%

In a panic They sold 166,000 more our of 233,000 that traded. another BIG short day. 72,000,000 is my final # why change it. I haven’t in weeks

Thats Big enough to make everyone happy when they fold

Working on a conference call with a former SEC enforcement Lawyer. Who I was told has spread our story to many People who Like to know fraud. ( GTII story is 100% is being told in DC)

I want him to tell all of you NOT from me. Working on it. Will keep you up

NOW if you thought GTII was manipulated yesterday this is even better

FNGR I knew buyers who were paying up to $6.50 like 15K. The naked short sold it to them and then the NEXT

OFFER in the stock was $5.33 on 13,000 down over $1.10 Think about that That The offer was taken and even

I had enough money To buy 84 shares at $5.33 to join in the fun. Then the stock moved back up

and closed at $6.25

THE NAKED SOLD 52,000 out of 61,000 that traded or 85.5%. Watching it was insane

I do believe. The naked short in Both GTII and FNGR have a margin problem from the new SEC rules

The TRADING tells the story and Its wild for sure When they Fold Both may go at the same time

Lets hope so. Good luck today

Article: Anti-Money Laundering Issues, Robinhood Crypto To Pay Fine

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Anti-Money Laundering Issues, Robinhood Crypto To Pay Fine

Syed Ahad, 08 July 2021

Anti-Money Laundering Issues Robinhood Crypto to Pay $15M fine Over Security to resolve a legal dispute with NYDFS (New York State Department of Financial Services) over charges related to crypto unit’s handling of cybersecurity and anti-money laundering.

The $15 million fine by New York State is the newest in a series of consequences to hit Robinhood. It also highlights the governing risk of operating in the crypto circle. Continue reading “Article: Anti-Money Laundering Issues, Robinhood Crypto To Pay Fine”

Article: GameStop and AMC turn around big on Thursday as retail investors unsubtly remind Wall Street they are going nowhere

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GameStop and AMC turn around big on Thursday as retail investors unsubtly remind Wall Street they are going nowhere

Thornton McEnery, 08 July 2021

Retail traders spent Thursday morning buying the dip created by all the people digging the graves of meme stocks on Tuesday and Wednesday.

Shares of GameStop GME, -0.08% and AMC Entertainment AMC, -3.65% started the holiday-shortened week in something of a nosedive, with both falling sharply from Tuesday morning into midday Thursday before sudden potent rallies fueled by Reddit chatter and Twitter hashtags saw both stocks recover dramatically, and AMC almost erase its weekly loss entirely before falling back a bit in the afternoon. Continue reading “Article: GameStop and AMC turn around big on Thursday as retail investors unsubtly remind Wall Street they are going nowhere”

Article: EU to propose new body to tackle dirty money, documents say

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EU to propose new body to tackle dirty money, documents say

Huw Jones, 08 July 2021

LONDON, July 8 (Reuters) – The European Union will propose a new agency to crack down on money laundering and new transparency rules for transfers of crypto-assets, EU documents showed on Wednesday as the bloc responds to calls for tougher action to fight dirty money.

Europe has come under pressure to step up enforcement of anti-money laundering rules after several countries began investigating Danske Bank over 200 billion euros of suspicious transactions that passed through its tiny Estonian branch between 2007 and 2015. Continue reading “Article: EU to propose new body to tackle dirty money, documents say”

Article: $13.7 million: Atlas VPN adds up the impact of the top 10 most successful blockchain scams

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$13.7 million: Atlas VPN adds up the impact of the top 10 most successful blockchain scams

Veronica Combs, 07 July 2021

If you have been swindled by a blockchain con, the most likely culprit is a fake investment scam, according to an analysis by Atlas VPN. The top 10 most successful currently active blockchain scams have collected $13.7 million so far, the report found.

CryptoMixer.com, a fake Bitcoin tumbler, is the biggest known active blockchain scam in terms of funds collected. This scam has collected 167 payments adding up to $2.5 million. Continue reading “Article: $13.7 million: Atlas VPN adds up the impact of the top 10 most successful blockchain scams”

Article: In a New Financial Dynamic, AMC CEO Ditches Plan to Side with Retail Investors

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In a New Financial Dynamic, AMC CEO Ditches Plan to Side with Retail Investors

Tim Fries, 07 July 2021

Just a few months ago, AMC CEO Adam Aron leveraged retail traders to lead the company out of its ‘certain’ demise. After billions in raised capital, retail traders—self-proclaimed ‘apes’—have now seemingly signalled the limit to selling shares. The situation illustrates a major shift in finance, for perhaps the first time.

AMC Indebted in More Ways Than One
At the beginning of June, the Tokenist reported that 80% of AMC shares have come into the possession of retail investors. Of those, many share their extensive analysis in various subreddits. What they ultimately show is a reluctance to follow the more sophisticated fundamental analysis of companies, GameStop and AMC Entertainment in particular. Continue reading “Article: In a New Financial Dynamic, AMC CEO Ditches Plan to Side with Retail Investors”

Article: #AMCThreshold: What to Know About AMC Stock, Short Sellers and the Threshold List

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#AMCThreshold: What to Know About AMC Stock, Short Sellers and the Threshold List

Brenden Rearick, 07 July 2021

It looks like things are becoming increasingly intense between AMC Entertainment (NYSE:AMC) fanatics and the short-sellers they are warring against. New allegations of naked shorting and illegal price manipulation are catching some serious momentum. As such, many are taking to Twitter to voice their concern and anger. #AMCThreshold is hitting the trending tabs as the AMC apes get their favorite stock trending yet again.

Much of the attention around AMC comes from the fact that the play has remained on the U.S. Securities and Exchange Commission’s threshold list for multiple consecutive days. Continue reading “Article: #AMCThreshold: What to Know About AMC Stock, Short Sellers and the Threshold List”

Article: How Traders Will Beat Wall Street This Earnings Season

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How Traders Will Beat Wall Street This Earnings Season

Jeremy Mullin, 07 July 2021

Jeremy Mullin
Wed, July 7, 2021, 8:44 PM·7 min read

^GSPC
+0.34%
Let’s review a common scenario investors come across as they wake up to their portfolio in the morning:

The Dow is up 250 points; it’s going to be a good day.

Stock A is up 1.5%. That was a good pick!

Stock B is up 2.3%. What a beast!

Stock C is down 10% and falling fast! What the heck???

It turns out stock C reported earnings above expectations, but investors are not happy. So, what happened?

And why is this stock going down when they had a good quarter above everyone’s expectations? Continue reading “Article: How Traders Will Beat Wall Street This Earnings Season”

Article: Economic Watch: China tightens crackdown on capital market violations

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Economic Watch: China tightens crackdown on capital market violations

Xinhua, 07 July 2021

BEIJING, July 7 (Xinhua) — China has tightened crackdown on illegal activities in the securities market to promote the high-quality development of the country’s capital market.

Efforts to improve the securities legislation mechanism will be enhanced, and criminal punishment and market discipline will be strengthened, according to an official document jointly issued by the General Office of the Communist Party of China Central Committee and the General Office of the State Council. Continue reading “Article: Economic Watch: China tightens crackdown on capital market violations”

THE DOLLAR HAS NO INTRINSIC VALUE : DO YOUR ASSETS?