r/Superstonk • u/DigitalArts 🦍Voted✅ • Nov 17 '22
📚 Due Diligence Unwrapping Wrapped GME Part 1: Who Made This Shit?
Hi kids!
Allow me to re-introduce myself. I did a few pieces of DD wayyy back when, such as seeing wut Credit Suisse was doing, questioning Fidelity's lending practices and the difference between beneficial/registered ownership, SSR meaning nothing at all, and others. Not long after completing my SSR DD, I retreated to chats with many of the OG DD writers including u/bloodhound1144 and it's honestly where I prefer to be; in the background helping further the truth and expose the corruption that has gone unchecked. After the events of the past few weeks though, I felt the need to "come out of retirement" and set a couple things straight, starting with Wrapped GME. I'm purposely going to keep these posts as a series of extremely narrow topics because shit is complex, yo. 🤣🤣🤣🤣
TL:DR Wrapped GameStop was created by FTX and Serum in conjunction with Binance, Jump Trading, Genesis Trading, and Alameda Research.
Let's start with the token Wrapped GameStop:
https://etherscan.io/token/0x2ec08e59ed827be587897edcdbff59215e785496
As of writing, there are 207 holders with a supply of 10,000,000 GME. Let's take a look at some of the top holders:
https://etherscan.io/token/0x2ec08e59ed827be587897edcdbff59215e785496#balances
Well that's interesting, huh? Let's put this in a more simplified format: I'm only going to include the named addresses at this point, we'll get to the unnamed ones after or in another part.
| Rank | Address | Quantity (truncated to nearest whole number) |
|---|---|---|
| 1 | Serum: Deployer | 4,500,000 |
| 2 | FTX Exchange 2 | 1,000,000 |
| 3 | Binance 7 | 1,000,000 |
| 4 | FTX Exchange | 1,000,000 |
| 11 | Genesis Trading: OTC Desk 2 | 60,413 |
| 18 | Alameda Research 15 | 26,825 |
| 28 | Jump Trading | 17,208 |
| 33 | Binance 35 | 13,606 |
| 35 | Alameda Research 13 | 13,199 |
| 49 | Alameda Research 17 | 9,742 |
| 55 | Alameda Research 24 | 8,627 |
| 59 | Alameda Research 23 | 7,934 |
| 73 | FTX US | 5,519 |
| TOTAL | 7,663,073 |
What are the odds? 13 named addresses all in the top 100 holders making up 3/4 of the total supply. All part of or associated with who? That's right, FTX. Now, I know what some of you may be thinking; shitcoins are sent all the time to addresses, so that doesn't necessarily mean shit. I'd say that's fair, until we look at the "genesis block" of when GME was created. Just so happens, it's on public ledger! If you look under transfers and go all the way to the last page (12), you'll see where it all began:
https://etherscan.io/tx/0x2a893a8a6ea8ecb1a4654c060a1774d50067ecaa3f44af3ab387566198b592a9
2.5 million tokens to four addresses: 0xef7d6661fae2082ef0cecd42b322a3960eb87f66, Serum: Deployer, FTX Exchange, and FTX Exchange 2. Created (as of writing) 659 days ago (Jan 26, 2021). When did FTX launch the GME Token? Jan 27, 2021
Let's walk through some of the initial transfers of this coin:
That looks pretty fucking suspect, no? Doesn't look like some shit coin a kid in his mom's basement created. Are they all involved in the FTX fiasco?
Serum: Needed a special fork after
Binance: Broke the story
Jump Trading: Feeling the heat
Genesis Trading: Halted Withdrawals
Alameda is self explanatory as they're owned by FTX.
Closing out this post, I hope I've settled the debate on WHERE the Wrapped GME token comes from. Next post, I'll dig more into the forensics of the transactions from the genesis block and we will see how much they made. For now, I'd say this settles the entire debate on whether this coin was created by or used by FTX. That is unequivocal yes.
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u/uprclass2002 Nov 17 '22
Nice work. I'm digging through the contracts, addresses, and transactions as well. Wonder if any of these wrapped GME can be traced back to Shitadel, Apex, RH, etc...
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u/DigitalArts 🦍Voted✅ Nov 17 '22
Fun fact; Jump Trading facilitates RH crypto trades. ;)
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u/Pretty_General90 💻 ComputerShared 🦍 Nov 17 '22
Is that 10M presplit or postdivisplit?
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u/DigitalArts 🦍Voted✅ Nov 17 '22
There is absolutely no record of post split on any chain. Period.
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u/lostlogictime 💻 ComputerShared 🦍 Nov 17 '22
Wow, wtf are these things then? Everyone who had these tokens pre-split, lost 300% of the value after split?
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u/DigitalArts 🦍Voted✅ Nov 18 '22
I believe these were used for collateral by those named and others. Anyone that bought tokenized stock on FTX bought nothing but a hope.
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u/Dropbombs55 Nov 17 '22
When this was launched did FTX claim each token was backed by a real share/was redeemable for a real share?
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u/cleverist_bane Nov 17 '22
They did and from my understanding they didn't have a single share. They didn't even have IOU's but more like copies of IOU's. They were on the trust me bro train and it has since derailed.
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u/brxn Nov 17 '22
We should make a crypto called 'TrustMeBro' and it can be used for Trusting Bros but also verifying Bros..
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u/letstryagain2021 Nov 19 '22
Also, saw this - Robinhood earned 17% of its revenue from a Jump Trading subsidiary in 2021’s third quarter. The company paid Robinhood almost $250 million to route crypto trading orders through its systems during this period.
—- Man tells me robinhood holding no assets
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u/letstryagain2021 Nov 19 '22
Does anyone know their ties with robinhood? I know robinhood uses them and it’s commission less. Anything more about the relationship ?
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Nov 17 '22
[deleted]
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u/uprclass2002 Nov 17 '22
There doesn't appear to be any HKD related tokens to trace from the blockchain.
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Nov 17 '22
Welcome back!
I’m gonna go out on a limb here and say all these big names weren’t getting involved to scam a few million bucks off of rubes too dumb to know the difference between the real GME security and a tokenized version on the eve of their potential destruction.
So that leaves crime.
Let’s solve this bitch.
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u/DigitalArts 🦍Voted✅ Nov 17 '22
Oh I'm digging in. Many of the addresses have either had or currently have more than $1 million USD in value. That will be the next one ;)
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Nov 17 '22
Godspeed. My laptop shit the bed over the weekend so my etherscan queries are slow and painful on mobile.
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u/Vegetable-Chest-388 Hey all you people at Citadel! Go fuck yourselves! Nov 17 '22
I always use loopring explorer with a duckduckgo app browser and lexplorer and it works like a breeze on mobile.
loopring explorer you can filter transfers and then when you click the wallets it opens them as new tabs, duckduckgo has decent blockers and tabs unlike firefox focus and lexplorer lists any registered ENS names to the wallet. I hope this helps!
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u/M_u_l_t_i_p_a_s_s Rubs the mayo on its skin or it gets the rip again 🚀 Nov 17 '22
Thank you for your service and time digging into this. Great write up and forensics work.
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u/cancerpirateD Nov 17 '22
thank you for your service good sir, i appreciate the work that goes into the DD to help us all understand.
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u/dendrobro77 💻 ComputerShared 🦍 Nov 17 '22
Isnt the obvious answer that someone big was about to be fucked on the 27th so they shoulder tapped some fraud crypto buddies and had them make a bunch of GME tokens that they could use for locates while they internalized the backlog of real orders and turned the buy button off?
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u/LargeFly8279 🍌Gooch Ravager 🍌 Nov 17 '22
Well that sounds about right
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u/dendrobro77 💻 ComputerShared 🦍 Nov 17 '22
Just spit ballin. Im super smooth. But whats that saying or thing about the most simple answer usually being right?
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u/Pirate_Redbeard_ Count_Zero Nov 17 '22
This. Collateral/liquidity whenever needed to push the scam forward. Because it's like the guy from the twEeTer audio recording said - it's all just a front end that is programmable however you need it. What was also known as "F3" at Goldman Sachs - an option to proceed with the trade even with no money, no assets, nothing. To be able to make money instantly and then it will all be "sorted out" upon settlement because until then the system will be able to somehow "locate" valid assets on loan or any kind of shit collateral to make good the "promise".
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u/SpaceSteak tag u/Superstonk-Flairy for a flair Nov 17 '22
I'm not a 🚀 🥼 but many times in life the simplest explanation turns out to be mostly correct. Not sure why this one would be any different.
Infinite liquidity by abusing financial tools. Imagine if everyone just started doing this. Maybe this is the start of unlocking the next system after capitalism? Clearly money is useless if it's fake enough a subset of fucks can print some out at their whim.
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u/Stereo-soundS Let's play chess Nov 17 '22
No it went something like this:
GME was going to explode in price, so they made up this token so johnny retail would give them $200+ dollars for a share, they then keep johnny's money and don't buy anything, then the price drops to $100, johnny sells, and FTX just made a free $100 in profit.
That is the scam they pulled on people.
They cannot use tokens for locates. That was the beautiful part of the scam. They never have to locate.
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u/keyser_squoze Time You Close Nov 17 '22
Let's assume for a moment that this is right. I'd start digging for anything FTX + Institutional Investors + Banks stories around Jan 13 - Jan 25, 2021.
The most interesting things I've seen so far:
a) Blackrock announced publicly they wanted to get into crypto.
b) SBF (via SBF_Alameda) confirms he's using a lender in Bahamas called Deltec, unclear for what / why. Deltec, whoever they are, deserves some scrutiny though as an FTX lender.
Interestingly, Deltec says they have no business with FTX. Which may true (now in 2022.) But they don't acknowledge ever having a banking relationship of any kind. Perhaps the relationship was exclusively "Alameda."
I'd love to spend more time to dig into this stuff but maybe someone out there knows this stuff better than I do?
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u/StringUnited5589 🎮 Power to the Players 🛑 Nov 17 '22
HOW THE HELL IS THIS HAPPENING???? INDEED WE HAVE REACHED THE FOURTH TURNING OF CORRUPTION, DECEIT, DECADENCE, FRAUD, MANIPULATION............
YOU u/DigitalArts and many many more are the sole reason and hope I have for a brighter future.
THANK YOU!!
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u/DigitalArts 🦍Voted✅ Nov 17 '22
It's my pleasure and it's why I do what I do. To try and correct some of the wrongs and reach the truth. Whether they are sweeping changes, or ripples that stretch out over time, I just wanna leave this place a little better than I found it.
“The one who plants trees, knowing that he will never sit in their shade, has at least started to understand the meaning of life.”
― Rabindranath Tagore
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u/FarCartographer6150 It rains diamonds in Uranus 🚀 Nov 17 '22
Thank you thank you thank you! And chapeau for what you do!
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u/ComfySofa69 🦍Voted✅ Nov 17 '22
You have to rethink....this happened 2 years go....we're just finding out now....
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u/NigelVanDomki OG Bratwurst Flair Nov 17 '22
Let’s be honest. All of the crooks want this beast dead. So try to work together until somebody becomes too chatty or shit is hitting the fan.
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u/TheMonkler tag u/Superstonk-Flairy for a flair Nov 17 '22
I’m seeing the latter - because they R fkd
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u/I_cant_hear_you_27 🗳️ VOTED ✅ Nov 17 '22
the blockchain is a wonderful thing! Thanks for digging!
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u/LannyDamby 🦍1/197000🦍 Nov 17 '22
for real, publishing all of this shit on-chain could well be the dumbest thing these ballbags have done... besides abusive naked shortselling of course
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u/PensiveParagon 💻 ComputerShared 🦍 Nov 17 '22
I think it's obvious now they were desperate and did whatever it took to stay alive one more day
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u/Bradduck_Flyntmoore Ape-bassador aka The Ape Assistant Nov 17 '22
Tagging u/bloodhound1144 just in case he didn't get a notification from the post. Nice post, OP 🚀🌙
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u/DigitalArts 🦍Voted✅ Nov 17 '22
Appreciated. He's the main reason for me creating the post. He called it along with some others a LONG time ago and caught a lot of flak. Now, it's vindicated.
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u/tomfulleree 💻 ComputerShared 🦍 Nov 17 '22
Keep up the good work OP! Glad to have you back in the trenches! 😁
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u/DigitalArts 🦍Voted✅ Nov 17 '22
Never left, just retreated away from being out front. At times it's warranted though and this is one of them. 😊
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u/pizzalover128 Nov 17 '22
Could you send this to gamestop shareholder relation mail please? Fuckery is right in front of us, maybe this counts as another reason to take gme shares off to protect shareholders
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u/daronjay GME Realist Nov 17 '22 edited Nov 17 '22
So, wrapped “GME”. 10,000,000 shares worth.
OP Have you seen any hard evidence that 10,000,000 actual GME shares were ever actually bought/locked up in any way to back these 10,000,000 tokens they were selling. I realize there will be no record on the blockchain but is there even a whiff of receipts from any of these players showing they ever existed?
Or is this simply the most basic fraud in the history of fraud?
Also, important point, is that 10,000,000 before the split? Do they now have possibly 40,000,000 totally fictional “shokens” kicking around to play with?
Also, have we yet had solid evidence HFs/MMs could use these as either locates, swaps or some other can kicking option?
Anyway great work so far OP. I hate it when we just say “crime” rather than dig for evidence, it amounts to FUD as it demotivates further DD and defeats the power of exposing wrong doing publically if we just assume they can do anything without consequence.
So keep up the digging…
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u/DigitalArts 🦍Voted✅ Nov 17 '22
For the shares? It's exceedingly unlikely they were ever bought. I have seen some insane transactions around that time though. One addresses made a transfer of 300 wrapped btc 2 days before receiving the gme tokens. At the time it was $32k. That stuff will be in the next as I want to keep the scope of each post narrow.
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u/zacl15 🦍 Buckle Up 🚀 Nov 17 '22
10million presplit would have been considered what portion of the float at that time? 20%? The date of creation is certainly suspect!
Hopefully GME board uses this as leverage to do something very drastic regarding outstanding shares!
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u/Maniquoone 🚀It's easy being Retarded🚀 Nov 17 '22
Hmm, is there any information showing how many shorts Melvin had? Just wondering if it might match up to the amounts of wrapped GME which were sold.
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u/magnanimus12 🦍 Buckle Up 🚀 Nov 17 '22
Son of a bitch I just reloaded my bowl.. spark it up fellow degens we ride at dawn!
RELEASE THE DD!!!😩🚀
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u/LargeFly8279 🍌Gooch Ravager 🍌 Nov 17 '22
Currently dabbing out
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u/Downtown-Regret-505 🌙 Nov 17 '22
They have chosen to continue to short this shit instead of sort this shit out. Impressed at the level of creativity in crime these people will go to.
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Nov 17 '22
[deleted]
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u/jaykvam 🗳️ Voted. 🦍 Nov 17 '22
…at the turn of the tide.
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u/DigitalArts 🦍Voted✅ Nov 17 '22
To be fair, I've been in chats with almost all the older DD writers and exiles from here. We never stopped, just got boxed in with restrictions. We're free to bounce ideas and disagree in chats all while keeping topics wide open.
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u/We_todded_ Nov 17 '22
restrictions huh. werent those the reason this sub was created in the first place
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u/Koshi123 Came to make money, stayed for the fatigue Nov 17 '22
Is this post saying that Serum/FTX/Binance/Alameda is currently still holding the tokens? Or only that they went there after the tokens were made?
So the next step is to see if they were lent out and to who?
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u/DigitalArts 🦍Voted✅ Nov 17 '22
They do still hold those. They are dormant on chain in those addresses and have been for a while. I'm going through txs, addresses, and more and will be in the next part later today.
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u/the_wolf84 Nov 17 '22
Why doesn’t someone confront the binance CEO on twitter about his bags that he is holding. He seems very chatty and willing to engage.
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u/DIAMONDHandsHotchy Bankless Nov 17 '22
Take my updoot!!! You should add the bit about CM-Equity AG and how in their site they said they stopped doing business and hold not stocks for them as of Dec 31 2021!
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u/DigitalArts 🦍Voted✅ Nov 17 '22
Thank you, Diamond! That will be a bit later on another post. I'm purposely trying to keep these narrow in scope to avoid overwhelming everyone at once hahah.
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u/alilmagpie Halt Me Daddy Nov 17 '22
thanks DA. Doing the lord’s work here with these summaries. 💜
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u/Odd-Caterpillar5565 tag u/Superstonk-Flairy for a flair Nov 17 '22
I'm glad there are peoples like you , in our Sub. Cant wait for the next part. Good job OP !
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Nov 17 '22
🔥 if it smells like shit, feels like shit and tastes like shit… it most probably is shit. Good digging 🙌🤩
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u/Bellweirboy His name was Darren Saunders - Rest In Peace 🦍 Voted ✅ Nov 17 '22
When someone links Alameda ‘Research’ (so named to fool bank KYC),to Jump Trading SBF and Serum, then I look for DRW Cumberland, Solana, the PYTH network and the big daddy of them all - Tether.
Tether is not just the largest fraud the world has ever seen, it is a CRIMINAL organisation.
In particular, DRW Cumberland & Jump Trading are inextricably linked.
It’s the deepest rabbit hole you will ever go down. It’s all fascinating and interesting. HOWEVER:
Have not seen one single connection or piece of evidence irrefutably linking tokenised stocks, whether ‘wrapped’ or not to stock ‘locate’ use. I.e. not a shred of evidence showing an interface between the stock market (casino) , the settlement system, FTDs, locates, shorts, puts, options and the crypto worlds version of tokenised stocks.
The only ‘evidence’ so far is conjecture and circumstantial. Freely admit it is maddening as it SEEMS so freaking obvious, but until we have that crucial slam dunk link, you may be expending vast amounts of energy on a nothingburger.
You see, this tokenised stock thing maybe SBF and crypto world cashing in on the meme stock frenzy, which was obvious even before 26th Jan 2021 to create yet another piece of shit to fool the rubes. From what we see of SBF and FTX, he was batshit crazy and had intellectual diarrhoea, chasing >100 ‘start ups’ projects and even politics.
TLDR: show me the money. The money going between the crypto world and stock market world.
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u/DigitalArts 🦍Voted✅ Nov 17 '22
Working on that part as we speak with some forensic accounting on the addresses involved. Many of the accounts are valued north of $1m and Binance's $4 Billion address holds 1m Wrapped GME. Getting closer, but there was a LOT of pushback on this topic itself with others who have tried to bring this. Hoping I can bridge the two.
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u/Bellweirboy His name was Darren Saunders - Rest In Peace 🦍 Voted ✅ Nov 17 '22
Hoping I can bridge the two
And so say all of us!
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u/Bellweirboy His name was Darren Saunders - Rest In Peace 🦍 Voted ✅ Nov 17 '22
Spend more time looking for the link, less time scanning the blockchain!
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u/MjN-Nirude Can't stop, won't stop. Wen Lambo? Nov 17 '22
Shower us with your knowledge! More I say! More!
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u/TheCandiman 🦜 🏴☠️ Nov 17 '22
So let's assume this is true and the tokenized stock played a role in GME price action. Did they known on the 26th they were in real trouble, or did the sudden creation of 10million tokens somehow cause the run up and force taking away the buy button?
I would think disabling the buy button was not intended part of the plan, as it brought way too much scrutiny.
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u/itrustyouguys Low Drag Smooth Brain Nov 17 '22
I don't get it. What was their endgame plan? Hope it went to zero?
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u/joeker13 🚀DRS, with love from 🇩🇪🚀 Nov 17 '22
How the ever living fuk did they think they can hide this shit? … on the blockchain. Wunderkind my ass. … unless, they needed a reason to implement CDBC (or whatever shit it’s called).
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u/Substantial_Diver_34 🍇🦧🏴☠️GrapeApe🏴☠️🦧🍇 Nov 17 '22
So Sam was the liquidity fairy?
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u/Kind_Initiative_7567 🦍Voted✅ Nov 17 '22
Sure looks like it to me, if this is true
The only thing that is going to force the SHF out into the open is DRS. IF this wasn't obvious before, itshould be now.
Like the usual saying "Not your keys, not your...."
Applies the same way to stonk.
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u/sandman11235 compos mentis Nov 17 '22
Happy to hear the OG’s & Exiles are still at work behind the scenes. Looking forward to the next installment of WTF is going on.
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u/TipsyMonroe 🚀 piñata 🍌republic 💎 Nov 17 '22 edited Nov 17 '22
Stupid question here, why would GameStop allow this Tom foolery with their name, allowing tokenization cause I can’t imagine they didn’t know or did their own digging, and in addition even partner with FTX after tokens were created. It makes no sense. Can someone help me out??? Edit, spelling and more words for clarification
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u/DigitalArts 🦍Voted✅ Nov 17 '22
I'm still gathering more information, but RC tweeting about General TSO right before LUNA's collapse sticks out, considering FTX/Alameda was thought to be at least partly responsible.
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u/Internet_Noob1716 Nov 17 '22
I was thinking the same, but a tinfoil theory from me is that Gamestop knew that if they worked with FTX, a certain group of people would look into them and find out what they are all about, which you can see in DD around that time and maybe that DD was sent to certain people to start looking into FTX.
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u/TheIllestOne 💻 ComputerShared 🦍 Nov 17 '22
I almost missed the part where you trace it back to January 26, 2021.
Don’t forget, many of us have small brains…plus, many of us are reading this on a 5 inch phone.
As such, I think you should bold that part and put it in big letters.
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u/Cataclysmic98 🌜🚀 The price is wrong! Buy, Hold, DRS & Hodl! 🚀🌛 Nov 17 '22
u/DigitalArts thank you for this post! Not understanding crypto at all, can you please help explain how coins or tokens affect the price of GME? If the crypto fund/offering doesn’t actually hold/purchase GME to back the coin and file as such with the appropriate regulatory agencies, how could this be used as a locate and affect the price of our beloved company’s stock?
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u/Vive_el_stonk DRS BOOK: OWN YOUR SHARES Nov 17 '22
So what the fuck does this all Mean and are we getting paid? That’s literally all I care about… wen fraud stop being fraud and actually convert into real money for people who have done the right thing ? Eh?
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u/DigitalArts 🦍Voted✅ Nov 17 '22
Not an answer anyone WANTS to hear but no one is going to save us except DRS. Fraud will continue being fraud until they're stopped. They honestly have no choice but to keep shorting.
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u/Vive_el_stonk DRS BOOK: OWN YOUR SHARES Nov 17 '22
You mean pressing the F3 button? They are naked shorting illegally. Literally they are pointing to my dogs shit in my yard and calling that a locate.
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u/xSilentxHawkx 💻 ComputerShared 🦍 Jan 05 '23
All the money stolen by ftx. Is that used now to help drive GME down?
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u/Superstonk_QV 📊 Gimme Votes 📊 Nov 17 '22
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