Attention all APES – A must read – Did he just say Citadel was downgraded to junk LMFAO

Current selected sort order is Most relevantMost relevant📷

Adam FaederView Adam Faeder’s profile (He/Him) • 3rd+BeYourOwnBank

1dY’all so focused on FTX you’re missing the bigger picture. Who benefited from all of these leaks and crypto crash?
Citadel, Fidelity, Virtu, Schwab! They’re trying to penetrate the crypto market with their new exchange…
Ken Griffin is biggest Republican doner, comes on to blast Trump, blast Democrats, promote Bitcoin, and yet his balance sheet is by far away worse than FTX. One line item under Liabilities for 2021 ended with $65B in “Securities Sold Not Yet Purchased.” Investors had to put in $4B at end of year just to break even.
Unlike 2021, in 2022 Citadel Long Positions have gotten killed this year, legal naked shorting has increased (Shares Sold Not Yet Purchased), and they have limited investors ability to withdraw funds (or pay big to withdraw). Citadel is essentially insolvent…same as FTX…if only the hashtag#DOJ would enforce the laws about closing out naked shorts of market makers. Yet Citadel continues to increase liabilities with no cash to actually pay. Instead of $8B to write off its more like $70B. Tik Tok.Like📷📷19Reply8 Replies8 Replies📷

Peter Hann CFAView Peter Hann CFA’s profileAuthorFinance Professional

1dYes, Citadel was recently downgraded to near junk status. He thinks his lifeline is to take over crypto market making once the “trash” is cleared away.