Cftc has just ordered jp morgan to pay a massive fine in relation to swap swap reporting failures. This shows. The cftc and the sec aren't afraid to investigate swaps and aren't afraid to issue fines and other penalties. It opens the door into future swap.

Reporting violations in relation to amc. So stay tuned. Let's make some money. This is the cftc filed and settled charges against jpmorgan chase provisionally registered swap dealers for failing to comply with their reporting obligations as swap dealers.

The order requires jp morgan to pay an 850 000. Civil monetary penalty and to cease and desist from any further violations of the cftc regulations the order specifically finds that from september 2015 to february. 2020 jp morgan failed to report approximately 21 million short dated foreign exchange fx swap transactions. Now the crazy part is that these unreported short dated swap transactions represented approximately 51 of the total number of swaps that jp morgan executed during that same period.

So they misreported a whopping 51 of all transactions. That actually occurred. This isn't just misreporting the occasional one or two swaps or maybe even 50 or 100. But a whopping 51 percent of all transactions.

Now. What's even more crazy is the fact that rob and hang loose have actually run the numbers on the dollar value of these swaps that were misreported taking the average swap size data and multiplying that by the 21. Million trades that were misreported suggests between 100 trillion dollars and 500 trillion dollars worth of swaps were misreported because this isn't just 21 million dollars worth of swaps this is 21 million individual swap transactions that were misreported it says jpmorgan has represented that it has reported all of the previously unreported fx swap transactions. It was obliged to report obviously in a self declaring and self reporting manner.

So nobody's actually investigated to ensure that jp morgan has now reported all of their unreported swaps. They're just taking their word for it commissioner. Christie romero. Said that i strongly support this enforcement action against jpmorgan and i said this case should serve as a message to all swap dealers that the cftc will bring justice for failures in swap data.

Reporting. And this is exactly what i was touching on earlier. We know that archaeogus had tons and tons of swaps or illegal swaps with a number of different financial institutions and all of these financial institutions were misreporting the data. We know that credit suisse were helping archaegos take out all of these swaps and more than likely.

A number of other banks were also helping archagos take out the same swaps and while hiding the true data or hiding the true correct data and that's what enabled archagos to build up such a massive swap position in a number of different stocks that was flying completely under the radar from the regulators and from every individual other bank obviously credit suisse knew the swaps they had with archagos and they knew they were hiding them well. But what they didn't know is that a number of other banks also had swaps with rkgas and the exact same thing has been happening with amc tons of these hedge. Funds and market makers. Have swaps with these major banks for amc shorts.

And amc. Puts. And other amc derivatives that's how these hedge. Funds and market makers are hiding their true amc short position via the swaps with these other big banks that are misreporting the data.

But as christy romero said. This case should serve as a message to all swap dealers that the cftc will bring justice for failures in swap data reporting. So it's now only a matter of time until. The cfdc goes.

After these banks for more swap data. Reporting violations specifically around amc. And i think. This is partially.

What's causing such a downfall in tiger global obviously. These major banks have been found out in terms of their illegal swaps and have likely stopped offering these swaps or have stopped hiding these swaps for a number of different hedge funds and guys. If you haven't already be sure to sign up to moomoo using the link in the description below to get 10 free stocks worth up to 25 000. And a guaranteed free share of lucid on top of that moomer is very easy to use it's incredibly customizable they've got tons of technical indicators and advanced charting tools and from moomoo's latest customer agreement they state they do not benefit from your order.

Flow and they don't sell your order flow to market makers like citadel or to clearing houses. Like apex clearing. They actually clear their trades themselves through photo incorporated. Which does also not sell your order.

Flow. Unusual wells. Have tweeted. Saying tiger global still has lost 50 percent of its main hedge fund so far in 2022 tiger global did post a small three percent gain for june but all in all it's so far down over 50 percent for the year this goes to show.

These. Hedge funds are still absolutely blowing up and are approaching closer and closer to that margin call position with even some of the biggest hedge funds like tiger global down over 50. And this is also causing the credit default swaps in a number of these major banks. Obviously to skyrocket.

I've touched on credit suisse. A number of times in the past. And i've now got an update on their credit. Default swaps.

Dylan tweeted saying whoa credit default swaps for credit suisse are going absolutely vertical. He said insurance against the default of the 14 billion dollar bank are approaching levels not seen since the great financial crisis. A few weeks ago. I showed you the credit default swaps for credit suisse had just edged past those previous highs set back in 2020.

Around this 150 or 175 basis point area. But since then they've been continuing to go absolutely vertical and the credit default swaps for credit suisse are now higher than they were back in 2011. Almost as high as the 2008 peak it won't be long until this credit default swap. For credit suisse continues to rise past the peak in 2008.

And shows that credit. Suisse are virtually on the edge of bankruptcy. These credit. Default swaps or cds are getting more and more and more expensive as these banks get weaker and weaker and run out of cash.

But guys remember the whole reason. The world is falling apart at the moment. The whole reason these credit default swaps for credit suites are skyrocketing and the whole reason why jpmorgan is failing to report their swap data. Accurately is because people invested money into that theater chain yep guys you got it because we've been buying and holding.

Our amc shares the world is falling apart. Inflation is passed eight percent and these credit default swaps are going crazy. It's likely. There's going to be another 75 basis point rate hike in the federal funds rate in the july meeting.

All because you guessed the guys we bought and held those amc shares sean williams says. I think i'm going to start posting this weekly. Because it's that magnificent and something that i think that was originally a brag has actually turned into something very very worrying is cryptocurrency exchange ftx. Bragging.

They have more than two billion dollars to backstop the crypto industry. If needed sam said the worst appears to be over for the liquidity crunch in the crypto market. But if not he's got a whopping two billion dollars to backstop the industry. But as hell spawn crypto tweeted.

He said two billion dollars for an 800 billion dollar market cap industry doesn't seem like it's going to cut the mustard cnbc reported saying that sam bankman freed head of one of the largest cryptocurrency. Exchanges. Ftx said he and his company still have a few billion on hand to shore up struggling firms that could further destabilize the digital asset industry. They've said ftx has become crypto's white knight in recent weeks throwing lifelines to digital asset platforms.

Which have faltered as cryptocurrency prices have created sam said we're starting to get a few more companies reaching out to us. He said. Those firms are generally not in dire situations. But some crypto exchanges may still fail.

But i personally think that not all is as it seems with ftx as vs btc tweeted. He said a big revelation in the voyager chapter 11 filings he said almeida or ftx or sam batman freed actually owes voyager 376 million dollars and he said this raises several questions and concerns so obviously fdx did lend over 500 million dollars to voyager digital. But at the time voyager went bankrupt ftx actually owed them money ftx had obviously borrowed money from voyager to the tune of 376 million dollars. You can see from the screenshot.

Obviously 654 million dollars. Was lent out to three arrows capital. But 376 million was lent to our motor research or ftx. He said.

How is sam bankman freed supposed to bail out the crypto space when he himself is in a lot of debt. He said. With the failed credit line and attempt to keep voyager afloat so that he has not to repay his debt immediately. He asked is sam bankman.

Freed or almeida or ftx really in such a good financial position. How much debt do they owe to other lenders. Such as blockfi maybe they lent out this 500 million dollars to voyager and then practically instantly recalled. The majority or all of the loan and even borrowed additional cash.

Maybe the exact same thing happened with block five maybe they lent block five 400 million. But then asked for it back and potentially even borrowed more so even though ftx is potentially saving all of these crypto firms. It seems like they're not in the best financial position. If they only have two billion dollars to save more crypto companies and they potentially are borrowing a lot of money themselves.

But guys be sure to let me know what you think down in the comments below and as always guys be sure to ding that notification bell. Because that way you'll be alerted when i upload a new video cheers.