…but not precious metals? Courtesy of JB.
When the Reset comes there will be no room for a public virtual coin.
WSJ: CME and BTC Exchange Dispute Led US Regulators to Open Price Manipulation Probe
June 9, 2018
Regulators from the US Commodity Futures Trading Commission (CFTC) reportedly demanded extensive trading data from several cryptocurrency exchanges, people familiar with the matter told the Wall Street Journal June 8. Regulators requested data in order to investigate whether manipulation might be compromising prices in digital currency markets.
The probe followed the launch of Bitcoin (BTC) futures by CME Group in December last year. CME forms its Bitcoin (BTC) futures prices based on data from four crypto exchanges; Bitstamp, Coinbase, itBit and Kraken, where manipulative trading could reportedly have distorted the value of BTC futures. Investigators are going after trading schemes that can be used to manipulate the price of BTC futures that the government directly regulates.
After the settlement of the first contract in January, CME requested that the four exchanges provide trading data. However, several of the exchanges declined to cooperate, stating that the request was intrusive. The crypto exchanges only handed over their data once CME shortened the time window of its request from one day to a few hours, said the sources.
What would they use to back their deposits one to one?
Paper derivatives of course!