Xi Jinping is extremely busy these days.
We’re sure all Gary Gensler needs to stop worry and love payment for order flow is time.
Makes as much sense as any of the rest of it, no?
As with everything else it does, regulators are getting ready to pull the plug.
In fact, he thinks it looks downright regulatable.
We’re sure you’ll agree with it that probes into potential insider-trading and whether its CEO should be allowed to be its CEO are nothing to worry about.
Just like all other cryptocurrencies.
If that’s not a sign of confidence we don’t know what is.
No payment for order flow? No problem for this merry band of troublemakers.
Good enough to plow ahead!
Dilute existing shareholders, have huge block of shares sold, get called overvalued, see stock double, repeat.
Call it the Coinbase model of doing business.
TD Ameritrade can’t be hit with a class-action over payment for order flow, so the little app that sometimes couldn’t probably can’t, either.
This time, though, it’s for taking money from the poor.
Maybe because the SPAC cops are the only regulators left on a beat.
No one’s giving them a blank check anymore.
Like another company going public via SPAC giving you access to the IPOs it’s choosing to shun.
Throw in some Coinbase and Cubes and the future of investing has arrived.
The hits keep coming for Gabe Plotkin.
You know, when Elizabeth Warren puts it that way.
FINRA can always be counted on to offer a relative bright spot in a legal and regulatory hellscape.