According to a report dated December 4, 2022: FTX-based synthetic stocks may have been used to manipulate the value of AMC stocks. In May 2021, FTX offered 36 tokenized shares, but speculators doubt whether the company actually held real shares.
FTX Lists 36 Synthetic Stocks, Issues Hundreds of Thousands of Tokenized Stocks, Reports Questions About Whether Companies Actually Own Stocks
FTX collapsed in the first week of November 2022, which has been under the microscope ever since the exchange. Since then, a lot of information to process and new information has been released. Sunday’s report details that FTX-listed tokenized shares may have been used to “manipulate the price of AMC shares.” According to the publication thechainsaw.com and its report, FTX’s terms of service said its synthetic shares were backed 1:1, which may not have been the case. I have.
“FTX Lists Wrapped AMC Tokens for Trading on Synthetic Derivatives Trading Platform,” Chainsaw details on his Twitter account. “[Etherscan.io] shows that there are now 545,000 synthetic AMC tokens on the Ethereum blockchain. ,” added Chainsaw in a tweet. His Twitter account for the publication continued:
However, a recent correction from CM Equity said the company ended his relationship with FTX in December 2021. is shown. Part of 2022.
According to the report, FTX’s terms of service state: We have published another report detailing that the shares of Gamestop and Tesla may have been similarly manipulated. The researchers further point out that a leaked FTX balance sheet published by the Financial Times (FT) shows that the company only holds shares in Robinhood (HOOD). There are no published documents (as of yet) indicating that FTX actually owned any of the 36 listed tokenized shares.
Additionally, Sam Bankman-Fried ( In an interview conducted by SBF) on Mario Nawfal’s Twitter Spaces, speculators accused SBF of describing a system that could print tokens and BTC. of thin air. Additionally, when SBF left his Nawfal Twitter Spaces interview, the individual accused FTX and Alameda of printing tokens out of nowhere to manipulate the value of his list of tokens for his projects. . Additionally, thechainsaw.com reporter Tom Mitchelhill says that FTX “deliberately lied” about its tokenized public offering.
“Despite the FTX website’s explicit claim to assure investors that their tokenized assets can be redeemed for the underlying asset at any time,FTX on tokenized stocks Delve into their own Terms of ServiceandThe Key Information Document states: “This ultimately means that FTX deliberately lies on its official website. misleading customers and directly violating its own terms of service.” Mitchelhill’s report further added that the “listing and custody discrepancy” could apply to literally anything FTX offers. suggests that there is
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