A week ago, Jamie made the front page of the newspapers claiming that Bitcoin was a "fraud" and that anyone who owned it was "stupid". Today, the CEO of JPMorgan is the subject of a complaint for abuse of market for "dissemination of false and misleading information" on bitcoin. This was filed by Blockswater LLP, an algorithmic liquidity provider for blockchain-based assets based in London (United Kingdom) and Vienna (Austria).
Jamie Dimon buys fraud
He declared:
"It's a fraud. It gives the impression to stupid people, like my daughter, to be geniuses. It's going to kill someone. I will shoot all those who touch it. »Jamie Dimon
A week later, an algorithmic liquidity provider called Blockswater filed a market abuse report against Jamie Dimon for "spreading false and misleading information" on the bitcoins.
Blockswater filed the report with the Swedish Financial Supervisory Authority against JP Morgan and Jamie Dimon, the company's managing director. Blockswater stated that Dimon violated Article 12 of the European Union Market Abuse Regulation (MAR) by declaring that Bitcoin was a "fraud". The complaint alleged that Dimon's statement had a negative effect on "the price and reputation of the cryptomony". The report adds that Dimon "knew, or ought to have known, that the information he had broadcast was false and misleading."
Florian Schweitzer, Partner of Blockswater said:
"Jamie Dimon's public statements have not only affected the reputation of bitcoin, they have also hurt the interests of some of its own clients and many start-ups that are working hard to create a better financial system"
Blockswater stated that in addition, JPMorgan was already trading bitcoin derivatives for its clients on the Nasdaq Nordic stock exchange in Stockholm before and after Dimon's statements. Schweitzer says it "feels market manipulation".
JP Morgan, buyer of 19,000 bitcoins (second green arrow)
- The Blockswater press release
STOCKHOLM / NEW YORK / LONDON / VIENNA, September 21, 2017 - Algorithmic Liquidity Provider Blockswater LLP filed a market abuse report with the Swedish Financial Supervisory Authority (FI) against JPMorgan Chase and Jamie Dimon, of the society. Blockswater believes that Dimon violated Article 12 of the European Union Market Abuse Regulation (MAR) by stating that the bitcoin was "fraud".
The complaint lodged with the Swedish authorities demonstrates how Dimon's statement had a negative impact on the "price and reputation of the cryptomony", and draws up a list of evidence suggesting that Dimon "knew, or should have known, that the information which he had broadcast were false and misleading ".
"Jamie Dimon's public statements have not only affected the reputation of bitcoin, they have also hurt the interests of some of its own clients and many start-ups that are working hard to create a better financial system, "said Florian Schweitzer, managing partner of Blockswater. JPMorgan traded Bitcoin derivatives for its clients on the Nasdaq Nordic stock exchange in Stockholm before and after Dimon's statements, which fueled market volatility. "This is an obvious case of double standards, and it smells of market manipulation. "
Article 12 of the European Union Market Abuse Regulation prohibits the manipulation of markets by practices such as the dissemination of false or misleading information. Nasdaq Nordic, where bitcoin derivatives can be traded on the stock market, defines market manipulation in accordance with the EU definition as "dissemination of information through the media, including the Internet, or by any other means that gives or is likely to give false or misleading signals in respect of listed products, including the spreading of false or misleading rumors and novels, where the person who made the broadcast knew or would have Knowledge ".
The Swedish Financial Supervisory Authority confirmed the receipt of the report but did not make any further comments, except to indicate that the regulator of the financial markets "will deal with them in accordance with the procedures".
Very interesting and informative post shared followed and upvoted. @adil2018 Wish you the best with all your future endeavors.
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https://etfdailynews.com/2017/09/22/company-files-market-abuse-claim-against-jamie-dimon-re-bitcoin-comments/
All the while his daughter was buying bitcoin !!!
Hey, you got to give the guy credit. If he is in the position where his opinion can drive the price of Bitcoin up or down, and he sees his industry (Central Banks) failing. His position is to do what is best for his company.
Meanwhile I am sure he is loading up his pockets with Bitcoin at a discounted rate! Getting fat and happy at our expense. It disgusts me at what he is doing, but he is probably doing what is best for his company.
Spreading that FUD!!!