Discover and read the best of Twitter Threads about #FlashCrash

Most recents (3)

@auteur_Remo @pietgoestweet @ArmandVervaeck Ik respecteer je mening maar misschien moeten we #Bitcoin ook eens van een andere, meer technische invalshoek bekijken. #Emoties laaien altijd hoog op in tijden van een #dump of #flashcrash zoals gisteren. Laat me je even meenemen naar het begin van de jaren 80. 1/7
@auteur_Remo @pietgoestweet @ArmandVervaeck In de vroege jaren 80 is #SMTP ontstaan, het wereldwijde protocol om e-mails te versturen. Iedereen gebruikt dat protocol vandaag de dag nog. Je ziet het alleen niet. Het zit ingebakken in je mailapplicatie. Ondertussen zijn tal van mailclients op deze #basislaag ontwikkeld. 2/7
@auteur_Remo @pietgoestweet @ArmandVervaeck Fast forward naar eind jaren 90, het ontstaan van het #HTTP protocol of de #basislaag van het #Internet en tal van andere lokale netwerken. We gebruiken dagelijks Facebook, Instagram, websites, webapplicaties, noem maar op. Allemaal gebaseerd op ... het #HTTP protocol. 3/7
Read 7 tweets
#Responsibility of #programmers for their #algorithms
😇Shooting stars: from expert advisor to #spoofing criminal
👉Spoofing #algo coder partially acquitted
🤦‍♂️CFTC and FBI fail with indictment of the programmer who developed the algo at the heart of the infamous 2010 #FlashCrash
😇Jitesh Thakkar, the founder and president of Edge Financial Technologies, one of the leading firms for #software development for #algorithmic and #highfrequencytrading #hft, was acquitted on April 9th, 2019 of the count of #conspiracy to commit spoofing.
⚠️Thakkar’s case is the first in the US where a programmer is prosecuted for his involvement in the development of a manipulative algorithm and shows regulators’ willingness to prosecute programmers in addition to the users of such algorithms.
Read 7 tweets
@lovetogive2 @kelly2277 @ThomasS4217 @MingGao26 @WendySiegelman @DrDenaGrayson @RepPeterDeFazio 1/ It's interesting that you should mention this because here's a really interesting reply to me from yesterday. I don't understand how money laundering works, but the sources in the Medium article were extremely helpful, ICYMI:
@lovetogive2 @kelly2277 @ThomasS4217 @MingGao26 @WendySiegelman @DrDenaGrayson @RepPeterDeFazio 2/ It's way out of my league to even understand what this Medium article is saying (the article explains clearly, I'm not sure my understanding is correct), so can't assess if its premise is right, but Deutsche Bank is *key*:
From Oct 14, 2014:
motherjones.com/politics/2014/…
@lovetogive2 @kelly2277 @ThomasS4217 @MingGao26 @WendySiegelman @DrDenaGrayson @RepPeterDeFazio 3/ "In 1999, Deutsche Bank—which did not respond to requests for comment—approached Renaissance and offered to package all of the Medallion fund’s investments into a portfolio, or “basket,” that was held in the bank’s name. (con't)
Read 14 tweets

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