Posted on 09/16/2017 8:11:06 AM PDT by ameribbean expat
Days after JPMorgan Chase & Co. CEO Jamie Dimon labeled Bitcoin a “fraud” and threatened to fire any employees caught trading cryptocurrency, it has emerged JPMorgan Securities made a number of trades on the Swedish stock exchange. Someone at the company bought and sold an instrument called Bitcoin XBT that tracks the bitcoin price.
The trades were published on Sweden’s Nordbank website, detailing the “Bitcoin Tracker One” product, which is the first bitcoin tracking product to operate on a regulated exchange. The instrument is provided by XBT Provider AB.
Nordbank’s data shows that JPMorgan holds over 9,000 XBT shares. XBT Provider says all share certificates are backed by real bitcoin holdings.
(Excerpt) Read more at bitsonline.com ...
To = tells
No one goes to jail for market manipulation...laws only applies to the schmucks.
In October of 2007, Jamie Dimon decided that subprime mortgages were headed for a crash. He instructed the all the department heads to dump any subprime paper at any price they could get, and not to make any subprime mortgages.
A month later, some guy in Switzerland who didn’t get the word bought a $1 billion subprime SIV. He was fired.
That’s what can happen when you have tens of thousands of employees who are authorized to make financial decisions. Inevitably, someone out in the field doesn’t read the memo.
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