Hello fellow apes, I have been digging into a random train of thought and can’t help but seem that there may be some correlation between these events. I fully admit that I don’t have direct links which is why I would love for anyone to contribute to this and fill any of the holes that are present.
TLDR: There could be a correlation between the rapid rise of the crypto market in parallel with GME. Crypto is known to be over leveraged as shit (100x is very normal) and we have the largest crypto exchange coinbase going public next week, the same week DFV’s calls expire. Could citadel and friends be holding their leverage over the fed and treasury through the bond market in order to make crypto seem like a safe haven upon the collapse of the dollar? Help me look more into this, I could be completely off base.
Firstly, a wonderful post by u/pinkcatsonacid
This got me looking into SIG a bit, and prior to looking into them I’ve been doing a good bit of research on Citadel at large and Texas.
For some context, a number of the exchanges have considered moving their data centers to Texas to escape a potential tax in New Jersey where most of them are currently housed. They met with the Gov. of Texas a while back in November.
SIG has been at the forefront of the crypto market for a long time running, having engaged in bitcoin futures since 2018 and to my knowledge were the first to do so.
Interestingly enough, Texas also happens to be where the largest Bitcoin farmers are hoping to move soon, due to its cheaper electricity, strong wind farms and less strict regulations.
What I’m confused about, is the very rapid rise of crypto in parallel with GME, It just seems a little weird timing wise but I could be making a mountain out of a molehill.
Moving on to some more potential correlations, we all know archegos capital management triggered some large block sales for some big banks to avoid losses, namely Goldman and Morgan Stanley.
Guess who is REALLY pushing into crypto ? Like ASAP?
And
This all seems to be coming to a head, furthermore the largest crypto exchange Coinbase is planing to go public next Wednesday the 14th. We all know that next week has some interesting things happening, namely DFV’s calls expiring.
My rather tinfoil hat line of thinking could be given that citadel is leveraging their money over the fed through the treasury market, could their intention have been to use Covid and the lax in regulations to short the shit out of the market at large, both stock and bond, collapse the house of cards and devalue the dollar, while moving into crypto? This is slightly prompted by Michael Burry and his thoughts on crypto and its role at large against gov. currency.
I feel like I’m jumping a bit and don’t have all the answers, please feel free to correct me anywhere I am wrong. I am but a humble ape.
Holding till the end, and glad to be among my own
As always, This is not financial advice.
Thank you for your time.
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