How Wall Street Took Over Bitcoin

Jane Street's Power and Bitcoin ETF Role00:00

Jane Street is one of the most powerful trading companies on the planet. They surpassed Bank of America and Citigroup in trading desk revenue last year. Jane Street made more money from trading last year than Goldman Sachs, Citigroup, and Bank of America. They are estimated to be behind more than 10% of every stock trade in the United States. They are one of only four companies authorized to create and redeem shares of the biggest Bitcoin ETF, BlackRock's IBIT ETF.

Suspicious Bitcoin Price Pattern00:31

Bitcoin dropped 2-3% at exactly 10:00 a.m. Eastern every trading day for the past few months. Theory claims Jane Street is behind this manipulation. Jane Street was banned from trading in India after regulators found them guilty of manipulating their stock market using a nearly identical strategy.

Now, one of our top stories, the Indian market regulator, SEBI has barred US trading firm Jane Street from trading in the country's derivatives market.

On February 23rd, Jane Street was sued for allegedly using insider information to trigger the collapse of $40 billion crypto project Terra, wiping out savings of millions and contributing to FTX's downfall. When the lawsuit became public, Bitcoin rose 10% in 48 hours, and the 10:00 a.m. drop stopped completely.

Broader Implications and Video Thesis02:01

Jane Street's co-founder wired $7 million used to buy AK-47s, Stinger missiles, and grenades for a coup attempt in South Sudan (verified information). This video explains how the financial system controls Bitcoin's price, the asset meant to be outside its control, by showing who controls capital flow and how it affects Bitcoin's price.