You know exactly what happened with MMTLP.
FINRA issued the sudden U3 halt pre market.
SEC in the loop, stayed silent and pretended everything is OK.
OTC facilities allowed trading against the issuer’s will, even after @johnbrda told them that wasn’t his signature on the filings and financial are 10 years old.
DTCC and FINRA used settlement uncertainty as the excuse to rug-pull.
They locked out ~65,000 American families with no exit, while protecting the shorts and market makers.
Regulators didn’t just fail, they enabled trading that shouldn’t have happened, then shut it down mid-game.
And now you’re wondering why anyone should trust the CFTC on crypto or prediction markets?
After watching this blatant capture and rug-pull, why would anyone still have faith in these regulators?
Next Bridge’s S-1 is an SEC-effective source of shares, a broker-dealer with an open FTD should be sourcing there to close it under Reg SHO Rule 204. The rule requires an active borrow, or buy close out, not passive waiting. 17 CFR § 242.204. $mmtlp
$MMTLP Financial Information Forum (FIF) and Securities and Exchange Commission FOIA.
Pg 1 - Howard Meyerson, FIF Managing Director, emails Erik Gerding, SEC Director of Division of Corporate Finance, David Saltiel, SEC Director of Trading & Markets, and Sai Rao, General Counsel for Division of Trading & Markets.
Sure … the problem they have now is the justification to release some things related to MMTLP and not other things. Judges don’t like inconsistency. Especially in light of the release of these emails and that the focus here is on the very “investigation” there were using to justify withholding information. Funny how the information here is centered on that … and yet they can’t release the Blue Sheets.
Everyone should be sending FOIAs again. I have.
1/ Breaking News🚨56-PAGE FOIA DOCUMENT:
In the next few posts, I will be sharing and unpacking a 56-page document released under FOIA
- It includes SEC’s own emails (by Washington senior policymakers directly under Gensler - NOT enforcement), strategic coordination with Congress BEFORE enforcement actions, timelines, and narrative control around Meta Materials Inc. and $MMTLP.
I encourage everyone and particularly the media, to look into the context of these emails, the names involved, timelines etc. Public debate is the cornerstone of democracy and your protected 1st Amendment right.
This post contains personal commentary and PUBLIC RECORDS. It does not constitute legal advice or assert any confidential information. All source documents were lawfully obtained.
#MMTLP #MMAT #Ripple #Coinbase #DJT
@cvpayne@EleanorTerrett@MariaBartiromo@Public_Citizen@kshaughnessy2@fnez_blogger@DanNewsManBall
Are you ready? Let's begin....
@POTUS 🇺🇸
On Jan 20, 2025, you signed EO 14147 to end the WEAPONIZATION OF THE FEDERAL GOVERNMENT against the American people.
For over 5 years, the @SECGov, @FINRA, other financial sector SROs and market participants, have waged a war against retail investors for the benefit of the CRIMINAL ENTERPRISE. #RICO
When TRCH MMTLP MMAT got too close to exposing their racket, they ALL conspired to defraud investors. The cover-up rages on today.
Does this sound like WEAPONIZATON to you???...
🚩Ignored issuer's concerns/compaints over 2M uncovered shorts that "disappeared" from NASDAQ Short Interest Report. NASDAQ claimed they were moved "offshore".
🚩Helped to establish an options chain for TRCH three weeks before a rev merge in order to provide mechanism for shorts to hold open obligations through a reverse merger to subvert short covering.
🚩Investigated irregularities in the trading of MMTLP for over a year, but failed to protect investors even when they suspected fraud. #Rule6490
🚩Ignored complaints from shareholders and issuers when a NASDAQ issued dividend, that was never intended to trade, was traded on the OTC Markets without issuer's knowledge or consent.
🚩Conspired with FINRA before during and after FINRA's U3 halt to defraud investors. #FOIA #RICO
🚩Altered an issuer's Corporate Action TWICE, in violation of #Rule6490 in order to establish a settlement issue.
🚩Issued historic U3 Halt, terminating trading two days before the published and promoted final days of trading, trapping investors for 1200+ Days.
🚩Refused to enforce the law and force reconciliation of short obligations.
🚩Made claims of "threats" from defrauded investors, two days after U3 Halt, but failed to provide documentation of such threats.
🚩Potentially used operatives on social media platforms to deploy deflective narratives to subvert transparency and distract attention from institutional fraud. #XTDs #RICO
🚩Delayed issuers ability to raise capital via an S-1 Registration with malicious strategies. Longest outstanding registration statement in history.
🚩Ignored investors' complaints as brokers refused to transfer shares to the issuer's transfer agent, which constitutes interference in property rights.
🚩First ever #FINRAFAQ with false and misleading information easily discredited by The MMTLP Army.
🚩Potentially hired consultant (who holds patents to trading algorithms/dark pools) to spread false and misleading narratives to Congress amidst their investigation, who also has direct relationship to market maker implicated in MMTLP Fiasco.
🚩Lied to Congress. #GenslerLied #CookLied
🚩Conspired with Broker-Dealer lobbying firm FIF to interfere in issuer's Registration Statement to avoid short obligation exposure and trade settlement. #FOIA #RICO
🚩Interfered in Congressional investigation. #VirtualCoffee #FOIA
🚩Front-ran investor attempts to enlist State AGs to investigate potential securities fraud, by delivering compromised FINRA FAQ.
🚩Filed "Novel" Enforcement action against issuers that had already FAILED twice in other civil action. #Deflection
🚩Fought transparency in Federal Court. 10+ cases.
🚩Obstructed #FOIA requests. < 2% response rate.
🚩Attempted to circumvent rules of discovery in their "novel enforcement action".
🚩Attempted to deleverage the issuer into disclosing non-public information.
🚩Refused to meet with issuer to resolve settlement issues.
🚩Weaponized interminable investigations to deflect transparency and regulators' roles as co-conspirators in the defrauding of MMTLP investors. #RICO
🚩Deleted text messages...we have them! #FOIA
🚩Set new policy to delete CAT data, right as discovery is incoming in a BK Trustee's investigation.
@realDonaldTrump
If nothing is wrong, why has the system refused transparency? If nothing is wrong, why has the system conspired to interfere in trade settlement? If nothing is wrong, why did Former Chairman Gensler and FINRA CEO Robert Cook lie and mislead Congress and the American People? If nothing is wrong, why have ALL of these participants fought discovery in 10+ legal cases?
There is a letter headed to your desk for signature. It has taken over a year of Heculian efforts to get this letter to you. For the sake of 65k+ harmed investors who did nothing wrong, PLEASE DEMAND TRANSPARENCY!!! @SECPaulSAtkins
The MMTLP Fiasco is BIGGER than Madoff, FTX and EEnron COMBINED!!! Take this win for American Investors and restore accountibility and integrity to US Capital Markets.
Like you, The MMTLP Army is RELENTLESS. WE ARE NOT GOING AWAY!!! Please sign the letter.
🖤MMTLP 🫡🇺🇸
@DOGE@DOGE_SEC@timburchett@RepLuna
They've had ample time to address and resolve this, at this point they are trying to wait out the statue of limitations and sweep this whole situation under the rug. Why is the companys S1 still not approve after over 2 years? Is it because FIF reached out to the SEC and told them not to process it??? This is complete bullshit, and the time for waiting is over. Action needs to be taken about this corruption!
The SEC has been “investigating” for years. Enough. Do it on Capitol Hill. The CEOs have expressed their desire to testify. Hold a hearing. Subpoena brokers (Schwab, TradeStation, Fidelity), market makers (GTS, Cannacord, Citadel), regulatory personnel (SEC and FINRA), and the CEOs. End this.
@kimkep4796@chuggachiggins@palikaras It’s this simple imo
1 nkd short in $TRCH became 2
One in MMTLP and one in MMAT
Post U3 (that liability frozen) they had to focus on killingMMAT bc it had IP (the value who knows but not 0)
And they did
There needs to be a deep dive into everything about the BOD of MMAT
MMTLP (MMAT)
A week Thursday, there will be two hearings that we should tune in to. Specifically the one in the afternoon entitled: The Role of Self-Regulatory Organizations in U.S. Markets: Examining FINRA and the MSRB.
EXAMINING FINRA.
That hearing is hosted by the sub-committee on capital markets:
The same subcommittee that is comprised of 9 members of Congress who have signed letters in support of MMTLP in the past.
The same committee where Lisa McClain in early February questioned Chris Iacovella of the American Securities Association, about FINRA, their evolution and their role.
This would be a perfect opportunity to submit Questions For Record (QFRs) and/or have them asked of the witnesses in the hearing itself. This time, it is safe to assume, actual members of FINRA will be present and we could actually get some juicy disclosures here.
Again, reach out to all offices on this subcommittee that have supported MMTLP in the past. It shouldn't matter if you're a constituent or not, because their offices has supported the MMTLP issue in the past.
It is, however, vitally important that we get loud about it so they understand how important this issue is.
Otherwise we won't raise enough a concern at the offices for them to actually follow through.
There is a coordinated team effort here required to produce results. It takes everyone making the effort.
If anyone needs help.... PLEASE REACH OUT TO ME and we can try to get something kickstarted. I am not a mind reader, but if you reach out to me and want to take action but need some assistance, I am making myself fully available.
PLEASE DO NOT HESITATE! I am here until I am called back to work which could be literally whenever.
Help me, help you, help all of us!
Thank you! 🙏😎💛⚖📚
$MMAT $MMTLP $TRCH
⚠️ Not legal advice
⸻
How the motions to quash help Kelly, Rolo, and ultra-vires
FINRA, Nasdaq, Citadel, Virtu, and Anson all argue:
•investor trading isn’t the debtor’s property
•trustee may lack standing
•manipulation enforcement belongs to the SEC
•exchanges don’t see beneficial owners
•subpoenas are overbroad / burdensome
Those defenses protect them in bankruptcy… but create problems for them in investor lawsuits. 👀
⸻
The Catch-22 they create:
They’re effectively saying:
1.investors own the harm
2.regulators should handle it
3.exchanges don’t fully see trading actors
4.discovery shouldn’t happen
That leads to one unavoidable question:
If not the trustee, not the SEC, and not the exchanges… then who protects investors?
Answer: private litigation (Kelly, Rolo).
That strengthens ultra-vires. 💥
⸻
How this helps Kelly specifically
1️⃣ Standing
Nasdaq’s position:
shareholder trading claims belong to investors.
That directly supports Kelly’s:
•personal injury
•direct standing
•non-derivative claim
⸻
2️⃣ Immunity pressure on FINRA
If FINRA says:
•it regulates markets
but
•manipulation wasn’t addressed
Then either:
•it failed to act
or
•acted outside authority
Both weaken immunity and feed ultra-vires. ✅
⸻
3️⃣ Regulatory gap narrative
Their filings imply:
•SEC domain
•trustee can’t investigate
•exchanges resist discovery
That creates an accountability vacuum — the exact environment where courts allow ultra-vires claims to proceed. 💥
⸻
How it helps Rolo
Statements like:
•exchanges don’t see beneficial owners
•market structure fragmented
•liquidity providers are “just participants”
Support arguments that:
the system itself caused investor harm.
That strengthens:
•DTCC / infrastructure claims
•due-process arguments
•systemic-failure theories
⸻
22-22-22-22-22-22-22-22-22-22-22
Where this causes THEM problems ‼️
They can’t simultaneously claim:
•strong market oversight
AND
•lack of visibility 😎
They can’t claim:
•immunity as regulators
AND
•no responsibility for outcomes ⚖️
They can’t claim:
•manipulation unlikely
AND
•block discovery into it 🧱
That contradiction is the litigation leverage. 💥
⸻
Bottom line
The motions to quash unintentionally establish:
•investors hold the claims
•regulators didn’t act decisively
•exchanges lack transparency
•discovery is being resisted
That combination:
👉 strengthens Kelly’s standing
👉 supports Rolo’s systemic claims
👉 fuels ultra-vires arguments
Because ultra-vires succeeds when:
authority exists, harm alleged, and accountability is missing. 🎯
🧐🧐🧐🧐🧐🧐🧐🧐🧐🧐🧐🧐🧐🧐
If there’s nothing to hide… why fight these subpoenas this aggressively? 🤔