In the shadows of the awful debate between Trump and Biden, JPMorgan admits 300 million dollar theft by spoofing. JP will pay 920 million to settle the scam made by 15 employees.
Spoofing is opening fake orders ment to manipulate the market price without really buying or selling.
This criminal practice reminds very much of the too familiar politics, where politicians make threats and promises just to win the election with no real intention to act as said.
The regulation in banking could be useful in politics as well. Making fake promises should be against the law.
But how can you say if the promise was fake?
Getting back to the market, in public crypto markets there is no regulation and that includes spoofing.
This can very much explain the volatile prices.
In order to stabilize markets, regulation is needed.
In order to deploy regulation politics is required.
The fear is that the sentiment in todays politics is aggresive and breaking the rules.
In countries where aggresion and dominance lead, the regim can manipulate as desired and the citizens are losing.