🚨 BREAKING: President Joe Biden Drops Out of 2024 Presidential Race! 🇺🇸
In a stunning twist, President Joe #Biden has officially announced his withdrawal from the 2024 presidential race. 😱 This unexpected development sends shockwaves through the political landscape, leaving the Democratic Party and the nation at large grappling with the implications. 🌐
Biden's decision to step down from the race comes amidst mounting pressure from within his own party, as calls for him to reconsider his candidacy grew louder in recent weeks. 📣 The President's withdrawal marks the end of a 50-year-long political career that saw him rise to the highest office in the land. 🇺🇸
As the nation digests this seismic shift in the political landscape, the question on everyone's mind is: who will step up to fill the void left by Biden's departure? 🤔 Will Vice President Kamala Harris be the natural successor, or will other prominent Democrats throw their hats into the ring? 🎩
JANE STREET IS THE MOST PROTECTED FIRM IN CRYPTO AND NOBODY HAS THE GUTS TO SAY IT
Everyone keeps treating Jane Street like some mystery to uncover. It’s not a mystery. It’s right there in front of you.
A firm with no CEO making $6.9 billion in profit per quarter.
More than most banks pull in a year. And somehow their fingerprints are on every single major crypto disaster and they keep walking away clean.
Let’s talk about it.
SBF. Caroline Ellison. Brett Harrison. All Jane Street alumni.
One built FTX. One ran Alameda. One ran FTX US.
The biggest fraud in #crypto history. $8 billion stolen. 25 years in prison.
Three people from the same firm built the whole thing from scratch.
But sure, Jane Street had nothing to do with the culture that produced them.
Total coincidence that three people from one trading floor all ended up running the same fraud operation.
Right.
Now Terra is suing them claiming they front-ran the $LUNA collapse.
Alleging Jane Street understood exactly how the UST depeg would play out and positioned themselves to profit while $60 billion got wiped in 72 hours.
Alleged? Yes. But explain this.
Bitcoin was getting dumped at 10AM EST every single day for 6 months. Every day.
Good news bad news didn’t matter. Same time same pattern.
Two days after the Jane Street lawsuit gets filed that pattern just vanishes. BTC rips from $62.5K to $69K.
You can say correlation isn’t causation. Sure. But you can’t say that with a straight face and not at least ask the question.
India didn’t just ask questions. India acted. SEBI accused Jane Street of using multiple entities to manipulate the Bank Nifty index.
One entity pumps stocks at open. Another holds derivatives that profit from the dump. First one sells. Second one collects.
Jane Street said it was normal arbitrage. SEBI banned them anyway.
And Jane Street’s response? They put $560 million into escrow just to ask for permission to come back.
Half a billion dollars. To request the right to trade. That’s not what innocent firms do. That’s what firms do when a market is too profitable to lose access to.
They also pay Robinhood over $60 million a month for order flow. Which means they see your trades before they go through. Every single one. Across one of the biggest retail platforms in the world.
And everyone’s fine with this because it’s “legal.”
Legal doesn’t mean fair. Legal just means nobody with enough power has decided to stop it yet.
The wildest part?
Co-founder Robert Granieri got connected to allegations about funding a coup in South Sudan. No charges.
Obviously.
Because people at this level don’t get charges.
They get “matters resolved.”
Here’s what bothers me.
The crypto space will spend weeks dragging some influencer for a bad call but won’t say a word about a firm that trained the #FTX team, is being sued for front-running the biggest collapse in crypto history, got banned from an entire country’s market, and literally pays to see your trades before you make them.
We pick the fights that are safe and ignore the ones that actually matter.
Some of this is proven. Some is alleged. Some is speculation.
But if even half of it holds up, the conversation we should be having isn’t about whether Jane Street broke any rules.
It’s about why the rules were written to let firms like this operate this way in the first place.
Crypto was supposed to be the exit. Instead we rebuilt the same casino and let the same house run it.
That’s what Terraform Labs is now claiming about Jane Street.
They say the $40B crash in May 2022 wasn’t just a “flawed algorithm.”
It was triggered.
According to the lawsuit:
→ Large liquidity was pulled before #UST lost its peg → $85M worth of UST was dumped during peak stress → Heavy trades accelerated the panic → Some players may have had early insight
→ UST broke below $1. → $LUNA crashed from $80 to almost zero.$40B+ vanished in days.
→ Retail investors were wiped out.
→ Jane Street denies everything. → They say Terra collapsed because the design was broken.
→ But if early exits and aggressive trades are proven…