CEO Charged with Bitcoin Market Manipulation

By Wayne Mulligan, on Thursday, April 26, 2018

Here’s how you know Bitcoin has reached a new level of prominence:

The CEO of a major Wall Street bank was just charged with manipulating its price!

Today, we’ll explain what happened....

Then we’ll show you why this seemingly negative news could actually be a good thing for crypto investors like you.

"Bitcoin is a Fraud!" 

We’ve mentioned this story to you before, but new information just came to light about it.

Several months ago, Jamie Dimon, the CEO of J.P. Morgan, came out publicly against Bitcoin.

Specifically, he called it a “fraud.”

Within a few days, Bitcoin’s price sank by 20%.

What do you think happened next?

“Now Let’s Go Buy More Bitcoin!”

J.P. Morgan, through one of its overseas offices, stepped in to become one of the largest institutional buyers of Bitcoin in the world:

chart

Just three days after Mr. Dimon made his comments — and caused Bitcoin to go into freefall — J.P. Morgan traders scooped up massive amounts of this crypto overseas.

In other words, thanks to Mr. Dimon’s negative comments, his firm was able to buy Bitcoin at a lower price...

And then, as its price recovered and surged higher, J.P. Morgan was able to maximize its profits!

If Bitcoin were a U.S. stock instead of a crypto, J.P. Morgan and its CEO would be in hot water...

Criminal?

You see, what Mr. Dimon did was a textbook case of market manipulation.

Market manipulation is illegal in almost every developed country.

It’s defined as “Dissemination of information through the media ... that gives, or is likely to give, false or misleading signals as to Listed Products.

So by saying one thing and doing another, J.P. Morgan was engaging in illegal activity.

Perhaps because it bought its Bitcoin overseas — or because Bitcoin still isn’t considered a security here in the U.S. — it thought it could get away with it.

However, a financial services firm in Sweden — where J.P. Morgan executed its trades — recently filed a complaint with the Swedish Financial Supervisory Authority. This is Sweden’s version of the SEC and FINRA.

The complaint alleges exactly what we’ve been telling you recently:

Wall Street’s biggest banks have been working to keep crypto prices lower, so they can buy into the market inexpensively and maximize their profits.

Jail Time for J.P. Morgan Boss?

I don’t know what will come of this. I doubt we’ll see Mr. Dimon in handcuffs anytime soon.

But this is good news for crypto investors like you and me.

You see, this activity gives a clear indication of Wall Street’s real intentions.

The biggest banks are set to enter the crypto market in a major way in 2018. Catching them engaging in manipulative practices proves it.

If you’re joining our online summit tonight, you’ll see some of the other evidence we recently collected…

In fact, by the end of tonight’s webinar, you’ll see why we’re so confident that Wall Street is about to pour billions of dollars into the crypto market.

And you’ll see why we believe you could earn extraordinary returns once they do.

Happy investing.

Best Regards,
Wayne Mulligan

Founder
Crowdability.com

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