Today I Want to talk about how there's 1.5 billion AMD shares on top of the legally issued float in illegal tokenized swaps. But how one of the main registered holders of these swaps just went bankrupt and is very likely to cause a chain reaction of liquidations To stay tuned and let's make some money. And now I'm gonna dive straight in with the key information. So Peter hand tweeted saying so let's recap, courtesy of Biggums in Bitrex, there's 625 million tokenized AMC shares in FTX On top of that, another 400 million tokenized AMC shares Citibank in Brazil is holding 512 million AMC Bdrs Now feel free to double check my math here, but 625 million plus 400 million plus 512 million shares is around 1.5 billion shares total. Now that seems significantly higher than the legally issued float of 513 million AMC shares of which we hold 85, if not 90 or even 99.9 Nine percent of those shares. Now, what really are these tokenized aims He shares? How are they similar to these Total Return swaps? And what exactly is backing these tokenized shares? And as Biggins tweeted, he said a story in two parts: tokenized stocks are created from the derivative Total return swaps. This is like owning the stock, but actually never owning the underlying asset. Fake shares to create real tokens. So from the Bittrex website, it says these digital assets are backed one to one to traditional stocks, entitling holders to the same economic benefits of owning the underlying stock. Now, where have I seen something where you can get the economic benefits of owning or shorting a stock without actually owning the underlying shares. That's right, they're the same as Total return swaps. It even says per the Bittrex website, tokenized stocks are a tokenization of a digital Total return swap contract or TRS The tokenized stock value is based on and collateralized with the underlying asset. a traditional security, and the value of the digital asset is determined by the value of the traditional security. For example, the collateralization by an equivalent notional amount of the traditional security I.E A hundred dollars of a debt derivative would be collateralized with a hundred dollars of the original underlying traditional security. So per the Bittrex website is tokenized, Total Return swaps are collateralized and actually own the underlying traditional Security on a one-to-one basis. It even says here that tokenized stocks may also represent Innovative baskets or indexes of traditional Securities as well as traditional Securities Plus cryptocurrencies. Tokenized stocks may also include leverage as well as long or short exposure. AKA They've even made tokenized stocks of the underlying basket of shorted stocks like GameStop AMC and many others. The tokeno stocks can also be heavily leveraged and they can go long or sure. And therefore, it's likely these hedge funds and market makers have also been shorting these tokenized Securities or tokenized baskets of stocks, potentially even using leverage as well like a 10 to 1 leverage ratio. It's well known that many stock trading platforms like Weeble or Robin Hood or Trading 212 only allow a leverage ratio. of up to five to one or five times leverage, but many cryptocurrency platforms allow up to 100 times leverage or a hundred to one. As Jan Jack tweeted, he said, there's no doubt that these tokenized Securities are nothing but the security sold not yet purchased or uncleared filter delivers which show up on the broker's books. He said those are liabilities or debts that market makers move out of the stock market into unregulated crypto derivatives markets or into unregulated crypto Brokers books instead. For example, even if Citadel is shorting these tokenized Securities because they're not actually owning the underlying security position or even responsible for the underlying short position on the security, because that's the responsibility of the crypto broker so that they all can have tons and tons of exposure but not have to report it. Now, the actual underlying short positions do have to be reported by these crypto Brokers. But again, many of these crypto Brokers don't produce audited financial statements or even any financial statements at all because they're Incorporated offshore like in the Bahamas for example. And therefore, these short positions obviously aren't being properly reported because these crypto Brokers are Incorporated offshore in the Bahamas and therefore don't have after a report for U.S purposes. So it's likely that tons of these synthetic shorts and even many of these Ftds have actually been hidden in these offshore unregulated crypto brokerages like Bitrex and like FTX And as the proof on the Bittrex website, we can see, the total supply of AMC tokenized shares is 625 million tokenized shares. And again, per the Bittrex website, it even says up here in the corner: AMC tokens are backed by shares of stock powered by digital assets AG issued by Bittrex Global and therefore these tokenized shares 625 million of them are supported one to one by real AMC shares. or at least are supposed to be supported one-to-one by real AMC shares. We know there's not actually 625 million shares, so there's already a hundred million synthetics right there and then. But this is where it all starts to come together, and where it all starts to tie together. You may remember from yesterday's video that CM Equity is the company that actually holds the 400 million AMC shares on behalf of FDX. It says here: equities are stocks that trade on traditional regulated exchanges FTX lists tokens on select equities. These spot tokens are backed by shares of stock custody by CM equity and these tokenized stocks can even be redeemed with CM equity for the underlying shares if desired. And therefore, right now, CM Equity is holding or has custody of 400 million AMC shares. It even says that CM Equity needs to have shares to back each token with a one-to-one ratio and it says the total supply of coins is 400 million tokenized stocks. But this is where it gets really, really interesting. I Was looking at the Affiliated entities of FTX that were included in this morning's Chapter 11 of bankruptcy filing. so all 140 of these companies have absolutely guaranteed gone bankrupt and it has been officially filed. So in this list, we can see a number of our media research entities piece. We can see tons and tons of FTX entities as well that have gone bankrupt. Even their investment in Ledger Prime is bankrupt as well. But what's really, really interesting is if we zoom in here to the C section, we can see that CM Equity just went bankrupt. CM Equity is listed on the Chapter 11 bankruptcy filing and therefore they just went bankrupt and CM Equity is holding 400 million AMC shares. That means that is part of the coming liquidation process. CM Equity is going to have to cancel these 400 million synthetic shares and close out of any synthetic shorts. likely all 400 million synthetic shorts against those fake shares. And that basically means that 400 million synthetic short positions are about to be closed out and properly covered over the next few weeks or the next few months whenever this bankruptcy proceeding actually takes place. But again, it's not just FTX and CM Equity. As Spence tweeted, he said, I'm calling it now Robin Hood and multiple other Brokers will collapse and become insolvent due to Market maker failures. On the back of the FTX disaster involving tokenized stocks, it's likely that Bittrex could also collapse as Bittrex is one of those crypto Brokers that has been rumored to not be properly backing their consumer funds just like FTX. There's also Crypto.com and I also warned your blockify that had to be bailed out a few months ago by FTX that are also likely to come down as a result and this could potentially spread to many stock Brokers like Robin, Hood and Weeble as well. And as Spence tweeted he said I feel really bad for people who will lose everything due to their Shady Brokers and this is why I Do think it's a great idea if you haven't already to find a brokerage that isn't affiliated with FTX and doesn't hold AMC tokenized Securities just like MooMoo With MooMoo you can currently get ten dollars absolutely free and you can all see at 15 free stocks worth up to two thousand dollars each a whopping total of up to thirty thousand dollars just for signing up to MooMoo using the link in the description below low I Do think that right now if you are using Robin Hood as a broker, I Do think it's a great time to move away from Robin Hood If they potentially get caught up in this FTX insolvency, it's also important to remember: don't forget that FTX has or had a 750 million dollar investment into Robin Hood which will likely be clawed back as part of the liquidation. The Robin Hood stock has crashed catastrophically over the last year, and again, they now need to pay off 750 million dollars so those proceeds can go back to the FTX creditors. So that's potentially 750 million dollars of Robin Hood stock and shares that's about to hit the open market. or it could be sold privately for a knockoff discount value. And that is likely why the cost of our average and cost to borrow maximum for AMC is still Rising on top of yesterday's figures. As Boss Blunts tweeted, he said the cost to borrow at close was 157.81 as an average for AMC and 344.82 10 as a maximum. That means that right now on average on a yearly basis, these Shorts are paying 157 of their total short position just to maintain their short position in borrow costs. Again, this is a massive cost to pay to support those short position as don't forget, this is just a broadcast. This doesn't count the can kicking cost then every other kind of cost that they're paying including fines. And as Biggums tweeted, he said, so they hide Ftds in is the contracts. Phase six is ending. That so can I stocks are being exposed and everyday grandfather contracts are getting closer to expire. Where all the Ftds go next. Again, this is just another way that Shorts are running out of a way to show and hide their AMC short positions. They can't generate liquidity with these Chinese IPOs They can no longer generate liquidity with crypto. They can no longer hide these Ftds and is the contracts. They can no longer hide them in tokenized stocks. They can no longer hide them in total return swaps and the original contracts. The original call and put options that were taken out back in 2021 and before are getting closer and closer to expiring and many have already expired. The shorts are clearly running out of any possible way that they had to continue shorting AMC and it won't be long until there's so much contagion in the crypto Market that it spreads over to many of these hedge funds and market makers. and they start defaulting left, right, and center. 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 put a new video. Cheers.!