Here are a few words I never thought I’d write: The hedge fund CEO who bailed out GameStop short sellers earlier this year has just secretly got an acclaimed bunch of crypto lords for an extremely rare copy of the original one Outbid US Constitution. Earlier this year, billionaire Kenneth Griffin became the number one public enemy for GameStonk acolytes. Now he has pulled the floor from under the feet of another bizarre online clique: ConstitutionDAO.
As detailed in a a row of current reports from Vice, crypto enthusiasts founded the ConstitutionDAO to create a new decentralized form of political order by purchasing a copy of the constitution. Like the plot of a BioShock Spiel, things quickly got into chaos when the group, which raised a whopping $ 40 million, was outbid for just a few million more at auction by a secret buyer, making it the most expensive historical document sale ever for $ 43.2 Dollar led. There are 13 copies of the constitution still in circulation, the last of which sold for less than $ 200,000 in 1988.
Today Griffin spread the word that he was the one who thwarted ConstitutionDAO’s plans. “The US Constitution is a sacred document that records the rights of every American and everyone who wants to become one,” said Griffin. said Barron’s in a statement. “So I intend to ensure that this copy of our Constitution is available to all Americans and visitors to see and appreciate in our museums and other public spaces.” The document begins its new journey at the Crystal Bridges Museum of American Art in Bentonville, Akansas.
Continue reading: Mister DeepFuckingValue is going to Washington
This isn’t the first time Griffin has pissed off a bunch of online people by tossing his money around. Back in January, when GameStop’s stock hit record highs due to an unlikely confluence of market forces and internet memes, a hedge fund named Melvin that sold the stock short, was losing out on time. Traders and GameStop meme stock enthusiasts in places like the WallStreetBets subreddit were happy to see it fueled. But then Griffin and others rushed in and propped it up again with over $ 2 billion in new capital.
As CEO of Citadel, Griffin also runs one of the largest market makers in the world, which means he actually buys and sells stocks on exchanges for customers. One of its big customers is Robinhood, the commission-free trading app that many GameStop and other meme stocks use to buy and sell. On a pivotal day in late January, Robinhood suddenly began blocking users from trading GameStop stock just as they were reaching unimaginable new heights (over $ 300 per share the day before).
Robinhood claimed it needed to temporarily cease trading to make sure it had cash available to cover potential losses, but WallStreetBets guys have long speculated, without much actual evidence, that Citadel got Robinhood to help Melvin. In other words, a classic conspiracy and the worst kind of all: one to scam Redditors. Hearings in Congress followed, and eventually an entire SEC investigation. When Commissioner Gary Gensler finally got the SEC results last month, it was full of warnings but no real answers. The conspiracy theories and Twitter mobs Ask Griffin to confess, persisted.
Time will tell whether ConstitutionDAO is similarly committed to some sort of Griffin truthfulness. In the meantime, he can enjoy reading an original copy of the founding law document that is currently crippling our republic.
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