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Tag Archives: CFTC

How Dirty Money Disappears Into the Black Hole of Cryptocurrency John Lothian Newsletter,Newsletter

First Read Introducing Bitmain By Thom Thompson – JLN In preparing for its IPO, Bitmain, a Chinese bitcoin-mining services firm, has provided detailed insights into its operations. As one of the largest business entities in the industry and occupying as it does a central position in the industrial organization of bitcoin, Bitmain’s filings reveal a lot about the forces behind cryptocurrency economics. BitMain Technologies Holding Company is the world’s largest producer and seller of bitcoin mining equipment. On Wednesday, September 26, they filed a much anticipated (draft) prospectus for an IPO on the Stock Exchange of Hong Kong. Since it’s…

Cross-Exchange Manipulation; Credit Suisse XIV Lawsuit Update JLN Options Newsletter,Newsletter,Options

Lead Stories CFTC Charges Futures Trader with Cross-Exchange Manipulation CFTC The Commodity Futures Trading Commission (CFTC) today issued an Order filing and simultaneously settling charges against Davis Ramsey, a Florida-based futures trader, for employing a manipulative scheme to influence the prices of certain futures contracts traded on the Chicago Mercantile Exchange, Inc. (CME) and Commodity Exchange, Inc. (COMEX), both Designated Contract Markets operated by the CME Group, Inc. (CME Group), to impact the outcome of related binary contracts traded on the North American Derivatives Exchange (Nadex). /jlne.ws/2DDLATo ****SD: There are plenty of binary options enforcement actions today – more on…

CFTC and SEC Binary Options Enforcement Actions; SEC sues Tesla John Lothian Newsletter,Newsletter

First Read Hits & Takes JLN Staff Part 2 of my interview with Eurex as part of their 20th anniversary celebration was published yesterday.~JJL Today is your last day to save on #FIAExpo registration. Keynote speakers include New Power author Jeremy Heimans and CFTC Chairman Christopher Giancarlo. ~JJL Bloomberg reported that Elon Musk Wanted to Impress Girlfriend With $420 Price, SEC Says.” No word on whether he first said, “Here, hold my beer and watch this!””~JJL The City of London plans to restrict traffic on some key roads in order to accommodate more people working in the area in coming…

CFTC Faces Cash Crunch, Offers Buyouts; Markets face race to end Libor links John Lothian Newsletter,Newsletter

First Read Hits & Takes JLN Staff A story of violence reported in the local newspapers about a man who stabbed his wife to death in a suburb of Chicago hit home when I read the name of the accused. Gary A. Kamen, a long time industry professional in our markets, was the accused murderer. He is charged with two counts of first-degree murder stemming from the fatal stabbing of Karyn Kamen, 53, authorities said. A judge set bail at $10 million Sunday for the 55-year-old Kamen, of Deerfield, IL. I met him first when he was working with a…

Fortunes Made and Lost on Weed in Wildest Single Day of Trading John Lothian Newsletter,Newsletter

First Read Hits & Takes JLN Staff The World Economic Forum issued a report “Building Block(chain)s for a Better Planet.”~JJL CQG Desktop Version 3.6 is out. Would it show my age if I said I used to use System One?~JJL If you haven’t seen Ray Dalio‘s thoughts about how our economy and country looks a lot like 1937, it is worth a look.~JK Yesterday, pot stock Tilray went full Icarus. Trading was halted multiple times for volatility reasons after it soared from ~$150 to nearly $300, then erased all its gains. Fun times. See CNBC’s As investors chase pot stocks…

The Wild West days of crypto exchanges are coming to an end John Lothian Newsletter,Newsletter

First Read Hits & Takes JLN Staff HERE is a link to the Virtual Markets Integrity Initiative Report from the Attorney General of the State of New York that has spawned so many stories in today’s newsletter.~JJL Ed Tilly of Cboe will be riding in the Wall Street Rides FAR this year for the first time with this Cboe colleagues. Cboe Global Markets is a diamond level sponsor of Wall Street Rides FAR, an organization that promotes autism research through an annual series of charity bike rides outside of New York City. You can donate HERE to support Wall Street…

The Risk of Derivatives Isn’t Gone. It’s Merely Morphed John Lothian Newsletter,Newsletter

First Read Look Who’s Talking By Thom Thompson, John Lothian News Last week many of us were surprised to hear EF Hutton talk again – Wow! They exist? – when Hutton issued three press releases over eight days. Hutton has emerged as potentially much cooler, socially conscious version of a money machine and not just because the money takes the form of cryptocurrency. It seems that Hutton’s brand had been hanging out somewhere deep in Citigroup until half a dozen years ago when it was resurrected and sent out to fare on its own. EF Hutton today is a broker…

New York sues U.S. to stop fintech bank charters John Lothian Newsletter,Newsletter

First Read How blockchain may be used to create “smart cities” – an interview with Paul Doherty, founder and chairman of The Digit Group By Matt Raebel, John Lothian News Paul Doherty, founder and chairman of The Digit Group (TDG), a company that designs, builds, and maintains what he calls “smart cities” around the world, was one of the speakers at Chicago’s 2018 “Voice of Blockchain” event at Navy Pier last month. In 2017, Doherty accompanied Donald Trump on his trip to China as part of a delegation of 30 CEOs from major U.S. companies. The trip proved fruitful for…

Crypto Exchange Kraken Is Laying Off 57 Employees John Lothian Newsletter,Newsletter

First Read Hits & Takes JLN Staff AFM Chairman Pat Kenny asked me to plug the AFM Autumn Workshop, Current Technologies and Market Trends, in London on September 12, 2018. The workshop will look at the impact that blockchain and cryptocurrencies are making in established markets and processes. Registration is HERE.~JJL I really liked Tim McCourt’s message from his MarketsWiki Education World of Opportunity presentation: always keep learning. Nice job, Tim. Thank you for participating.~JJL Cumberland, part of DRW, has done a rebranding.~JJL FINRA has published an article, “Here’s How to Avoid Crypto Stock Scams.~JJL Yesterday’s top story about TT…