{"id":3083,"date":"2023-06-09T13:23:58","date_gmt":"2023-06-09T11:23:58","guid":{"rendered":"https:\/\/www.dhcab.com\/?p=3083"},"modified":"2023-06-09T13:23:58","modified_gmt":"2023-06-09T11:23:58","slug":"another-example-of-sec-insider-trading-worth-millions-of-dollars","status":"publish","type":"post","link":"https:\/\/www.dhcab.com\/?p=3083","title":{"rendered":"Another example of SEC insider trading worth millions of dollars"},"content":{"rendered":"<div class=\"postie-post\">\n<div>\n<div dir=\"auto\">Less than half an hour before US regulators cracked down on a key crypto exchange, an options trader made a short-term bet against Coinbase that earned him millions of dollars, Bloomberg reported.<\/p>\n<p>At 10:36 am on Monday, a block of 4,806 contracts of Coinbase $50 puts expiring Friday hit the tape, when the stock was at $61.77. <\/p>\n<p>Roughly 24 minutes later, the SEC announced it was suing Binance, sparking a selloff across the crypto sector.<\/p>\n<p>By noon in New York, Coinbase stock was down almost 12% and options that had been bought at 18 cents apiece were already traded for as much as $1 \u2013 a gain of almost 460% if sold at the peak.<\/p>\n<p>The already profitable bet became even more lucrative Tuesday after the SEC announced a separate suit against Coinbase itself. <\/p>\n<p>That means a trader could have potentially turned an investment of $86,500 \u2013 the sum spent\u00a0 on buying the puts \u2013\u00a0into a windfall of as much as $2.6 million in less than day.<\/p>\n<p>Gensler hit the jackpot?<\/p><\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Less than half an hour before US regulators cracked down on a key crypto exchange, an options trader made a short-term bet against Coinbase that earned him millions of dollars, Bloomberg reported. At 10:36 am on Monday, a block of 4,806 contracts of Coinbase $50 puts expiring Friday hit the tape, when the stock was [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":3084,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[25],"tags":[],"class_list":["post-3083","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-global-issues"],"_links":{"self":[{"href":"https:\/\/www.dhcab.com\/index.php?rest_route=\/wp\/v2\/posts\/3083","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.dhcab.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.dhcab.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.dhcab.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.dhcab.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3083"}],"version-history":[{"count":0,"href":"https:\/\/www.dhcab.com\/index.php?rest_route=\/wp\/v2\/posts\/3083\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.dhcab.com\/index.php?rest_route=\/wp\/v2\/media\/3084"}],"wp:attachment":[{"href":"https:\/\/www.dhcab.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3083"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.dhcab.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3083"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.dhcab.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3083"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}