The GameStop saga was a David-versus-Goliath story!
It pitted small traders against big hedge funds and the manipulative short sellers.
And this saga isn’t over.
The story is only beginning.
So sit back, relax and open your ears.
It’s time for Chico Crypto!
To begin, what’s a rundown of what happened?
Firms in the spotlight of all this?
First Melvin Capital, as their short selling firm got battered and bruised when retail
said hell no! and then when funky business started going down on retail exchanges during
the BIG short squeeze...Citadel and Robinhood.
Yeah, there were questions going around during the squeeze, if Citadel made the call to Robinhood
to halt trading to stop the squeeze and save their arses.
Especially as it was learned how important Citadel was to Robinhood’s bottom line.
43 percent of their q1 2021 revenue came from Citadel…Everyone knows the ties between
Robinhood and Citadel!
And they are both going to get no repercussions for pure market manipulation,
So there is BAD blood between these entities.
Gamestop and Citadel!
Like real bad blood…
And I think the new team behind Gamestop, led by the fearless leader Cohen, realize
there isn’t much that can be done when those you're trying to fight are in control of the
exchanges where your stock is heavily traded.
You gotta somewhere else….like into the next iteration of Finance, where it’s decentralized.
So it’s time to take down the Citadel...like Ryan Cohen’s last tweet said “Brick by
Brick”....
And this all ties right into the Gamestop NFT platform that was announced on May 25th...only
just over a month ago.
Going to the site….it seems to be hinting that Gamestop is coming out with something
NFT related as it says Gamestop NFT, and then change the game.
If you scroll down, it takes a game cartridge with gamestop and the ethereum logo on it,
and plugs it into a gameplayer, which lights up an ethereum logo on it.
The screen then reads “power to the players.
Power to the creators.
Power to the collectors.”
At the bottom it says they are building a team, and call out for people to join by applying.”
Finally there is an ethereum address…
Going to that Ether address…it takes us right into a contract address.
A contract for what?
Well in the token tracker it says for a token called Gamestop GME!
So, many people dove right into the tokens contract and they found a launch date...with
a unix timestamp.
Well you can put that timestamp into a converter, and it converts to July 14th 2021
Launch countdown is on...in a week something BIG is coming!
What do I think is coming?
A long story...so let’s begin with why is July 14th significant to the entire story!?
Well it’s a hint of what’s coming...besides Ryan’s brick by brick tweet.
July 14th is a national holiday for a certain country.
France….It is Bastille Day.
This day celebrates the storming of the Bastille, which happened on July 14th 1789 where the
working class rushed and overthrew their overlord oppressors.
What is the Bastille?
What’s its definition?
Well of course it can mean a citadel...and images depicted of this event, show the fortress
citadel being taken down by French citizens...brick by brick…
So, a clear day launch date in the public code for the NFT platform, happens to fall
on a revolution holiday for the French where they stored a citadel....
And during the fight, Gamestop vs the hedgies including Citadel, back in January and February...
The media and Reddit was calling Gamestop’s fight just that, the French revolution...
months before this launch date was set in the code…
So what is the launch date of?
Well you could guess due to the gamestop NFT landing page, it has something to do with
gaming, NFTs, and Ethereum.
Like gamestop is moving their business on the blockchain.
Turning used games into NFTs?
Turning all games into NFTs?
In Game items into NFTs?
Well yes...that is all happening.
Gamestop is going to be the first major gaming enterprise to dive head first into the world
of NFTs.
It’s obvious from the landing page...but it’s not coming 9 days from now on the 14th...as
the landing page showed they were still looking for members to build it…this launch date
in the GME NFT Token code, has to be related to something else…
Now going back to the UNIX timestamp, if we get more granular, not only does it decode
to a specific date...but also a specific time.
July 14th, 2021 at 4:20.
Bastille day holiday at 4:20?
The stonered time...was that time put there to be tongue and cheek?
Was it random?
Or is there something to the time??
Well there was an easter egg left in the gamestop nft landing page.
Just a little white dot, at the top right corner of the page.
You clicked on that, and it took you to a web browser game, where you are a blackcat
in a Banana suit jumping on the moon over rocks, rockets, and moonbase satellites…
This hidden game, hints at so much, but first let’s talk about the blackcat in the naner,
and the importance of 420.
The cat in the banana is a Banaya.
Japanese anime character...but back in March, Gamestop dropped an exclusive plush in their
online store.
Redditors picked up on that this was an exclusive back then, and it had a SUS expected launch
date….4/20...and it had a super SUS description.
This was a “squeezable” plush…like a short squeez coming?
As you can see in the comments, people were saying no way this is just a coincidence,
that this meant something….which was even fueled by Ryan Cohen, around the same time
of the Plush drop with a release date of 4/20...Cohen tweeted this meme out of nowhere…..
Obviously something was supposed to happen on 4/20….but as we know.
Nothing big happened for Gamestop on the day, there was no big 4/20 news & the plush as
we can see from this reddit post, got delayed to 5/17…
There was a curveball thrown into the mix, and Gamestop had to delay what they may have
had planned.
Because on the day 4/20...Ryan Cohen tweeted this!
It was TED once again, but this time not smoking, but drinking...and many say this tweet was
in Reference to a new filing from the DTC, Depository Trust Company, to the SEC...filing
that ends in 007, as James Bond 007, like his “shaken, not stirred”....GME Shaken,
but not stirred...
Now a redditor, posted about this new filing from the DTC back when it came out, and in
the comments a WarioFangirl68 explains what it is.
They say “This new system should allow the DTCC to accurately determine the number of
shares loaned, proper share ownership, and calculate the risk associated with share loans
(which is all currently self-reported).
More market transparency for DTCC to prevent over-leveraging in the future.
Looks like a strong pro-active move, but it'll come into effect July 9th.
This confirms GME really will be a once in a lifetime squeeze.”
Rules are being changed, and they go into effect just 5 days before the launch date?
7/14/2021 at 4:20???
Like the 4/20 when this was supposed to be actually launched?
So what is this?
What does Gamestop have up their sleeves!?
Well in my opinion, it’s going to be the the announcement of a cryptocurrency dividend...and
the evidence for this comes from a recent GME filing with the SEC, just last month,
a prospectus for the sale of 5 million shares of its common stock.
IN the filing, they say under plan of distribution: “We may also offer securities through subscription
rights distributed to our stockholders on a pro rata basis, which may or may not be
transferable.
They then say further down...
“Unless otherwise specified in the related prospectus supplement, each series of securities
will be a new issue with no established trading market, other than shares of our common stock,
which are listed on the New York Stock Exchange, or NYSE.
Any common stock sold pursuant to a prospectus supplement will be listed on NYSE, subject
to official notice of issuance.
We may elect to list any series of preferred stock on an exchange, but we are not obligated
to do so.
It is possible that one or more underwriters may make a market in the securities, but such
underwriters will not be obligated to do so and may discontinue any market making at any
time without notice.
No assurance can be given as to the liquidity of, or the trading market for, any offered
securities.”
Further below they say “Until the distribution of the securities is completed, rules of the
SEC may limit the ability of any underwriters and selling group members to bid for and purchase
the securities.”
It sounds like they are warning, letting the regulators know, that a new type of security
is coming, one that may not have established markets, liquidity, and more….and just further
below, they explain what this could do...specifically mentioning shorts
“In general, purchases of a security for the purpose of stabilization or to reduce
a short position could cause the price of the security to be higher than it might be
in the absence of such purchases.
The imposition of a penalty bid might also have an effect on the price of a security
to the extent that it were to discourage resales of the security before the distribution is
completed”
Woah, specifically mentioning shorts covering themselves trying to purchase this security!!
It’s a total warning, to everyone.
The SEC, short sellers, and the like.
This isn’t going to be a surprise..…..
So in my opinion.
GME is planning a new “crypto market” where every shareholder is entitled to a certain
number of crypto dividends, aka tokens, based on their stockholdings.
There are two ways they can do this, with a typical crypto GME Coin, which would be
a erc20, aka fungible.
….Or they could do it as an NFT….a non fungible token.
And in my opinion, they are going the way of NFT & in the opinion of many others.
There is a great and highly upvoted post on the superstonk subreddit titled “NFT Dividend
- Do you really want to know the purpose?
Here it goes…They say...”Every single shareholder gets an NFT which represents the
literal number of shares they own.
The issuance of the NFT Dividend would take place and then become instantly visible on
the blockchain for the entire world to see just how many shares are held by real people.
Once it's on the blockchain it's public record.
We will be witnessing the first ever passive aggressive documentation of fraud the world
has ever seen.
Every share owned by a real person would be documented”...
Basically an NFT, that will attest to a person’s number of shares!
Leaving the naked shorts, uncovered shorts..really out to dry...
Which makes even more sense with one of their recent hires.
Jordan Holberg who just became principal engineer.
Jordan previously created Hodlberg Financial, which is tokenized holdings.
Going the FAQ it reads “Hodlberg ]-[ Financial lets one "attest" their cryptocurrency holdings
and mint a Non-Fungible Token (NFT) on the Ethereum blockchain.
The minted Hodlberg NFT aggregates all attested wallet balances into one convenient token,
without compromising privacy.
The balance and token data aggregated into your Hodlberg NFT is always up-to-date”
Holberg built NFTs to attest to crypto holdings.
Is there a financial NFT team building to attest to the number of GME shares to an NFT?
Maybe even down the road hodl those shares tokenized in smart contract vaults?
Chico thinks so.
Cheers!
I'll see you next time!