The Prime Execution Agent an facilitate Shorting
https://twitter.com/TylerDurden/status/1790941726544478602/photo/1
The transfers of bitcoin from the Trust’s Trading Balance to the Bitcoin Trading Counterparty’s account at the Prime Execution Agent
or to the Prime Execution Agent is an “off-chain” transaction that is recorded in the books and records of the Prime Execution Agent.
!!!!! T H I S !!!!!
iShares® Bitcoin Trust
Filed pursuant to Rule 424(b)(3)
Registration No. 333-272680
424B3 1 bit20240109_424b3.htm FORM 424B3 — Wayback Machine
https://www.sec.gov/Archives/edgar/data/1980994/000143774924001125/bit20240109_424b3.htm
The Trust’s Trading Balance with the Prime Execution Agent may not be funded with bitcoin on trade date for the sale of bitcoin in connection with the redemption order, when bitcoin remains in the Trust’s Vault Balance with the Bitcoin Custodian at the point of intended execution of a sale of bitcoin. In those circumstances the Trust may borrow Trade Credits in the form of bitcoin from the Trade Credit Lender, which allows the Trust to sell bitcoin through the Prime Execution Agent on trade date, and the cash proceeds are deposited in the Trust’s Trading Balance with the Prime Execution Agent. For settlement of a redemption where Trade Credits were utilized, the Trust delivers cash to the Authorized Participant in exchange for Shares received from the Authorized Participant. In the event Trade Credits were used, the Trust will use the bitcoin moved from the Trust’s Vault Balance with the Bitcoin Custodian to the Trading Balance with the Prime Execution Agent to repay the Trade Credits borrowed from the Trade Credit Lender.
THIS MEANS
Blackrock can take as much Bitcoin as they want from Coinbase and the transaction is recorded off chain.
I’d like to see the all of the ETF’s wallets. Thanks Brian you massive cunt.
-This means they can borrow Bitcoin from Coinbase to short and are not required to show any proof they hold 1:1.
-There’s also a 2-30 day settlement.
All settlements are done in cash. The writings on the wall, unless someone can find the ETFs wallets on chain.
There’s a leaked trade a few weeks ago, someone a very large entity pinged BTC and MicroStrategy at the same time.
Isn’t this exactly the same problem why GME got squeezed? Firms Borrowing shares and over leveraging them in a huge basket with other third parties ? Or am I wrong?
Yeah naked short selling is illegal but not tracked so they all do it.
100bil up can afford 5bil hair cut.
Bitcoin Transfers:
When the trust moves Bitcoin to another account for trading purposes, this move isn’t recorded on the Bitcoin blockchain (off-chain). Instead, it’s noted in the financial records of the Prime Execution Agent, who helps with the trading.A third party.
“Hidden from Normies” = “Do whatever we want and get away with it” card
5/17/24 @BoringSleuth https://x.com/BoringSleuth/status/1791240868038373712
They’ve (Banks, VCs, Corrupt elites) have been using Private Blockchains since 2016ish based on lots of research I’ve done.
They can do whatever they’d like, but you can’t! Including, taking their funds from shell exchanges, using tokenized private bank issued stablecoins, and converting Crypto into the National currency or asset of their choice.
I read just last night that Jamie Dimon was investing >$7 Billion in Blockchain by the end of 2016!
What we get, promoted by their influencer network, is a Front End Public value extraction, masked as something much grander, where I would estimate only the Top 5% of traders/investors actually come out in the Green.
What good is an immutable blockchain if the elites, including the most corrupt (and non-corrupt) get to use a Private one?
*MICHAEL BURRY’S SCION DUMPS ALPHABET AND AMAZON IN Q1, BUYS SHARES OF PHYSICAL GOLD ETF AND ALIBABA
*FIND BURRY’S UPDATED STOCK PORTFOLIO ON INVESTING PRO: https://www.investing.com/pro/ideas/scion-asset-management
The Warren & Gensler Anti-Crypto Army is losing the support of key democrats.
The American people want an open internet and the option to use crypto.
Crypto shouldn’t be partisan.
Pro-crypto is pro-American values.
The US Senate just voted 60-38 to overturn SAB 121
This is a BIG deal!
It is the 1st crypto bill to get to the President
It also sends a message to @SECGov that they are screwing up
MIT professor states that Gary Gensler knew little about Crypto when joining @joi at MIT. It’s amazing how he taught an entire course of Digital Assets despite knowing very little. I proved that he taught a FALSE history about Ethereum’s ICO when I showed it was Chinese
https://x.com/BoringSleuth/status/1791514728805621861
Gensler also knowingly misled an entire MIT class when he taught a false history about the Ethereum ICO. He failed to mention that the Chinese Communist Part tied company, Wanxiang, is who was ETHs largest backer, funding the Ethereum Foundation and participating in over 500 ICOs.
https://x.com/boringsleuth/status/1785348656624759202
https://govt.chinadaily.com.cn/s/201803/28/WS5b788025498e855160e8f2cc/wanxiang-group-mit-develop-strategic-cooperation.html
Why is Gary Gensler teaching a false history on Ethereum’s ICO in his MIT class?
In this , I will show you that it was the CCP that invested in Ethereum in its pre-ICO days, and not Canadian VC’s like Gary teaches.
https://x.com/BoringSleuth/status/1648698602439561218
WANXIANG and MIT FORM STATEGIC PARTNERSHIP 2018 Article at
http://GOVT.CHINADAILY.COM
Morgan Stanley has just disclosed a $270 million investment in the Grayscale #Bitcoin ETF
$1.5 Trillion Morgan Stanley reveals it has spot #Bitcoin ETF exposure in SEC filings
The CIO of the First Pension Fund in the U.S. to add #Bitcoin to the balance sheet, joins our Board @workforcebtc
$5.1 Billion Pension Fund CIO Joins Non-profit Organization Focused on Bitcoin Adoption
https://bitcoinmagazine.com/business/5-1-billion-pension-fund-cio-joins-non-profit-organization-focused-on-bitcoin-adoption