Per The Chainsaw and the Street: An article by The Chainsaw, a Web3 and cryptocurrencies news site, alleges that short sellers possibly used crypto exchange FTX to affect the share price of stocks like AMC via FTX's AMC tokenized shares.
Chainsaw says that FTX had around 525,000 AMC crypto tokens. Meanwhile, the exchange, which the Street shares in the report, said it had 400,000 million.
Short sellers reportedly could have been redeeming AMC tokens for actual shares, which would have allowed them to avoid paying the stock's high borrowing fees. This is reported by Chainsaw originally.
See original report by the Chainsaw: https://thechainsaw.com/defi/crypto/ftx-amc-stock-price-manipulation/
See The Street report: https://www.thestreet.com/memestocks/.amp/amc/report-short-sellers-may-have-used-ftx-to-manipulate-amc-stock
FTX’s tokenized shares are now under scrutiny for stocks like AMC
12/8/2022
