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My guess is that insider trading practices are simply getting smarter. e.g. receive a hot insider tip? In the old days they'd just buy up a bunch of that stock.
by jb775 6y ago
My guess is that insider trading practices are simply getting smarter. e.g. receive a hot insider tip? In the old days they'd just buy up a bunch of that stock. Nowadays, there are systems that can trigger diversified purchases across multiple asset classes & markets that end up reaping just as much profit (if not more), while obfuscating the financial ties.
- godzillabrennus 6y agoNominee manager for a Wyoming LLC to do your trading? Pay the nominee manager in crypto currency and have them open a bank account for the LLC? America is awesome at money laundering.
- DrAwdeOccarim 6y agoWhat I'm about to say will probably trigger a backlash, but...bitcoin is a public, immutable ledger. Why would someone think that would be a good idea to do crime in? Are bitcoin tumblers really good enough? You need to place a lot of trust in actors whose desires may not always align with yours. Better idea would be to just split the winnings with them.
- Alekhine 6y agoMonero, a fungible, privacy-focused coin exists. It's near a hundred dollars in value now.
- DrAwdeOccarim 6y agoYes, I agree.
- Analemma_ 6y agoAlso the coordination/communication is being done with burner phones and encrypted chat apps, so there's no paper trail.
- anonu 6y agoI don't see how that's feasible. Multiple asset classes? Nobody has even been prosecuted for insider trading for buying gold.