Nicholas Raia

DePaul Kellstadt Graduate School of Business, Aviation Enthusiast, Veteran of Operation Enduring Freedom/ Iraqi Freedom.

[Nicholas Raia @NicholasRaia2]

If #MMTLP was a movie 🍿 🎥

[Nicholas Raia @NicholasRaia2]

@onehundredmph @SECGov

[Nicholas Raia @NicholasRaia2]

Under @SECGov Rule 15c3-3(b), broker-dealers must promptly obtain and thereafter maintain physical possession or control of all fully paid securities and excess margin securities carried for customers.

Brokers have already made determination of $MMTLP securities they hold in possession/control.

If #MMTLP securities are missing short or in deficit position, the rule requires the broker to take action and resolve it by:

👉Recalling loaned securities.

👉Releasing securities from liens.

👉Buying in the securities (purchasing in the open market) to bring them into possession and control.

This is what “forces” brokers to buy shares when they become available — to eliminate shortages and comply with segregation requirements. Failure to do so can violate the rule and trigger regulatory action.

@FINRA interpretations of the rule explicitly reference buy-ins as a method to resolve deficits.

[Nicholas Raia @NicholasRaia2]

@KurtKloborg What two ways?

[George Palikaras @palikaras]

🚨Breaking news: 🦋

@Nasdaq just LOST its Motion to Quash.

Read that again s l o w l y . . .

The Bankruptcy Court in Nevada has now ordered Nasdaq to produce extensive $MMAT/TRCH trading data under Rule 2004, including RASH and CORE data, order attributes, cancellations, replaces, executions, and related transaction records covering nearly FOUR YEARS.

The Court was NOT persuaded by the ‘undue burden’ argument, noting that producing ~15GB of spreadsheet data is not exactly impossible for… Nasdaq. (One $10 usb stick)

Even more important, the Court explicitly recognized the Trustee’s AUTHORITY to investigate whether wrongdoing occurred on behalf of the estate, including potential claims tied to stock trading activity.

Translation:
This investigation is very much ALIVE.

For months, some people mocked and undermined the Trustee’s efforts, claimed discovery would never happen, and acted like every subpoena didn’t get served initially and that it would be crushed before daylight. Instead, the wall keeps cracking.

FINRA discovery.
Now Nasdaq discovery.
And the Court explicitly referenced separate pending motions involving Citadel, Virtu, and Anson.

Interesting times ahead.

Turns out Rule 2004 is not just a decorative suggestion.

To the Trustee and legal teams, incredible respect.

It takes courage to walk into rooms filled with institutions that have virtually unlimited resources and say:

‘Produce the data’

And to the echo chambers already warming up their spin machines tonight…

You may want to read the actual order first. 🤝

Blessings to all.

[Nicholas Raia @NicholasRaia2]

@Duglett @BAMinvestor @Chip80804677 @FINRA @SECGov Cool 😎

[Nicholas Raia @NicholasRaia2]

Hey! @FINRA & @SECGov 🫨#MMTLP

[Beard Vet @Beardvet]

There it is!!! The President has Spoken

[Nicholas Raia @NicholasRaia2]

@BAMinvestor @Chip80804677 @FINRA @SECGov Are you familiar with MMTLP? It is a mind blowing story about endless counterfeiting of securities and regulatory coverups.

[Nicholas Raia @NicholasRaia2]

@bleedblue18 @marklev91430712 @SECGov Interesting 🧐

[Nicholas Raia @NicholasRaia2]

I came across an urgent letter from Thomas Farley to Gary Gensler found in a FOIA.

Gary Gensler and his @SECGov team effectively stalled the Form F-4 registration for the FPAC/Bullish transaction by end of December 2022. As a result, Far Peak Acquisition Corp. was unable to schedule a shareholder vote on the proposed merger.

My theory, Gensler understood Bullish’s long-term ambitions: the company would eventually expand aggressively into tokenized securities and acquire major transfer-agent infrastructure—moves that could eliminate rehypothecation and uncollaterilized loans….

Think about the acquisition of Equinity. What was @SECGov protecting here? 🤔 #MMTLP $MMTLP

[Nicholas Raia @NicholasRaia2]

@annvandersteel @surfersuzy7 @SECGov @EdMartinDOJ @palikaras @busybrands @JunkSavvy I’ll bet @SECGov has the share count!

[Nicholas Raia @NicholasRaia2]

@thedocespo 🤨

[Nicholas Raia @NicholasRaia2]

@ElfCarbon @johnbrda So what’s are next step?

[Nicholas Raia @NicholasRaia2]

@ElfCarbon @johnbrda Nextbridge would have to setup a subsidiary in Germany 🇩🇪.

[Nicholas Raia @NicholasRaia2]

@whisskier @Nicksfan2024 @Xenon61098 @rosales9664 @busybrands @RogerBjornerud @annvandersteel @TheRobbCarter @thatgirltrader @JunkSavvy @RepRalphNorman @PeteSessions @HesterPeirce https://t.co/4TYsHrcna6

[Nicholas Raia @NicholasRaia2]

Adding google drive link for Gensler text messages that magically disappeared. 11/2022 through 01/2023. #MMTLP $MMTLP
https://t.co/NfvDaN0pqs.

[Nicholas Raia @NicholasRaia2]

@PressSec @WhiteHouse When is @POTUS signing the #MMTLP letter? Thanks!

[Nicholas Raia @NicholasRaia2]

@kshaughnessy2 @palikaras From my perspective, political pressure to burry #MMTLP must be enormous and the @SECGov commissioners are cowards. Maybe if faced with jail time they’ll find motivation to come clean to save themselves. 🤷🏻‍♂️

[Nicholas Raia @NicholasRaia2]

Just a hunch - I suspect the five chairs were combing through transactions picked up by @FINRA’s surveillance algorithms… These pages are not just e-mails, there was massive amounts of data passing around. #MMTLP

[Southern_Patriot @lfan_nh]

So in the 7 days leading up to the $mmtlp halt, the 5 chairs of the SEC had a combined 13,177 pages of correspondence ONLY pertaining to MMTLP. Let that sink in for a minute. Unbelievable. #mmtlp
Sign the letter @POTUS

[Nicholas Raia @NicholasRaia2]

@LotusRob99 Try now

[Nicholas Raia @NicholasRaia2]

@palikaras Thanks!

[Nicholas Raia @NicholasRaia2]

@Giftsonglass Agreed 👍

[Nicholas Raia @NicholasRaia2]

Have you looked at FINRA’s Technology page lately? They literally boast:
“FINRA processes a peak volume of 600 billion transactions every day… Our technologies run hundreds of surveillance algorithms… to uncover market manipulation, insider trading, and other methods that firms or individuals might employ to gain an unfair advantage.” Why is this more relevant than EVER right now? Because in the Meta Materials Chapter 7 bankruptcy, our trustee hit FINRA with a Rule 2004 subpoena demanding ~25 million granular Trade Reporting Facility (TRF) records — every off-exchange trade in MMTLP — plus the full short-interest and Reg SHO short-sale volume data tied to it. And think about this!
Sam Daddy and his counterpart @SECGov had this information back in 2021!
FINRA’s own UPC committee also had this information when they wrote (and then re-wrote) the MMTLP corporate action — twice!
They run hundreds of algorithms on 600 billion transactions a day.
The data exists.
The algorithms exist.
The subpoena is now court-ordered. The only question left is: what exactly was @FINRA watching… and why are they hiding it? #MMTLP