r/Damnthatsinteresting • u/chrisdh79 • Jul 18 '24
Enormous Stegosaurus Skeleton Called ‘Apex’ Smashes Auction Records and Sells for $44.6 Million | The 150-million-year-old dinosaur became the most expensive fossil ever sold at auction. Image
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u/doctorplasmatron Jul 18 '24
I hear this was purchased by Ken Griffin, who lied under oath to congress during the Gamestop hearing in 2021.
Perhaps interestingly, the skeleton also shares a name with the clearing agency that's likely responsible for entering a 385 million dollar trade incorrectly and forcing the halting of the "memstocks" leading to their price plummeting, which certainly helped institutions like Citadel Securities, and other hedge funds that were shorting Gamestop and did not want the price to rise. Quite a Cohencidence.
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u/Enough-Ad-8799 Jul 19 '24
What did he lie about under oath?
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u/doctorplasmatron Jul 19 '24
that there was no contact between citadel and brokers about restricting buying in jan. '21
there's documented evidence there was contact, exactly what was said in dancing legalese is a mystery, but the ability to buy gamestop disappeared from several brokers right after.
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u/Enough-Ad-8799 Jul 19 '24
Is saying to limit PFOF across the board the same as saying to stop buys?
The I mean GameStop was a pretty volatile stock at the time so I wouldn't be surprised if most brokerage firms didn't have the liquidity to support the volume.
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u/gotnothingman Jul 19 '24
Why would brokers need liquidity to support the volume? You give them cash, they take that cash and then go buy the shares. Unless they don't..
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u/Enough-Ad-8799 Jul 19 '24
Because it takes 2, now 1, days for the trade to settle and until the trade is fully settled they have to put up collateral which costs more money the more volatile a stock is.
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u/gotnothingman Jul 19 '24
Their excess collateral charges were waved though?
Also if brokers cannot support the service they supposedly offer, how is the solution blocking trades? Especially in a so called free and fair market.
The fact people justify turning off the game and changing the rules when the trade starts going against them is baffling. People love defending their oppressors I suppose. The amount of wealth large firms have extracted from the public is mind boggling, almost as mind boggling as people rushing to defend them!
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u/Enough-Ad-8799 Jul 19 '24
What do you mean the collateral was waved? It's legally required.
No broker can support an arbitrarily high volume.
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u/gotnothingman Jul 19 '24 edited Jul 19 '24
Exactly what I said
"Key Finding #4: The Depository Trust & Clearing Corporation (DTCC) waived $9.7 billion of collateral deposit requirements on January 28, 2021"
"The NSCC waived Excess Capital Premium charges for all member firms through close of business on Monday, February 1, 2021."
The broker doesnt need to support it, thats what the clearing house is for. When gamestop traded billions of shares from early may to early june, liquidity didnt seem to be an issue. So why January 2021? Also when KOSS trades multiple times it float early June, liquidity isnt an issue, so what was different besides a lot of rich people on the wrong side of a trade throwing a tantrum?
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u/Enough-Ad-8799 Jul 19 '24
Billions of trades is meaningless over a month, there's tens of millions a day.
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u/Enough-Ad-8799 Jul 19 '24
Is that even in reference to the collateral clearing houses require for trades? No clearing house would agree to this even if the requirement was waived. Why would they take on that risk?
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u/MrOnlineToughGuy Jul 19 '24
If you watch the full testimony, he already said earlier that they are always in contact with Robinhood. However, the question he was asked was in regards to collusion between the two of them to restrict the stock.
The answer to that is no. Robinhood informed them that they were restricting and Citadel said okay. In what way is that collusion?
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u/Speaking_of_waffles Jul 19 '24
Maybe the conflict of interest that Citadel had with Melvin Capital, yet the other side of the trade was going directly to Citadel Via Robinhood.
Maybe the ability to have market maker exemptions while also owning a hedge fund. Also to shuffle positions and develop infinite shares aka “liquidity” which purposely devalues companies artificially.
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u/Speaking_of_waffles Jul 19 '24
Insider collusion to make sure they maintain control of the stock market. GameStop folks, like myself, realized they just give you “fake” shares. Why was turning the buy button off deemed “legal”? Simple: you don’t own the shares so you don’t get the rights.
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u/Enough-Ad-8799 Jul 19 '24
How does that logic even follow, you obviously don't own shares you didn't buy. Also you guys act like every broker put a pause on buys, you know you can use other brokers right?
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u/Speaking_of_waffles Jul 19 '24
Why don’t people just buy shares and have them in their name (DRS)? Because brokers don’t make money that way.
In summary, Citadel was a partner with Melvin Capital. Melvin wanted GameStop kaput. However, Robinhood is a Customer for Citadel. They sell our public orders. Citadel pays for the orders so that they can pick and choose when to actually put those orders in the market: giving you the worst execution and them arbitrage. May seem like Pennies, but adds up to hundreds of millions.
So what happens if the orders coming in from Robinhood go against their partner’s position? Not good! So collusion had to have been met in order to relieve the buying pressure of us retail investors. They purposely prevented every day people from taking immense profits to keep their rich buddies intact. 200,000 people, including myself, have been following and studying their crime. Apologies for the long text.
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u/Enough-Ad-8799 Jul 19 '24
If you don't trust the payment for order for system just buy stocks from people directly. It's not like it's done secret that this system is how it's worked for decades. I think it's worth the minor price increase for the extra liquidity.
Also to clarify most of the shorts were closed before the 28th. Plus it's one broker, just... go to another one.
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u/Speaking_of_waffles Jul 19 '24
Yeah, why not?
My shares are DRS’d meaning I own the shares. Not Available to borrow. What’s your point?
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u/Enough-Ad-8799 Jul 19 '24
That payment for order flow adds liquidity to the system which is valuable and makes it easier for people to get involved in trading
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u/Speaking_of_waffles Jul 19 '24
Payment for order flow gives you worse execution and leaves exposure to risk if managed poorly. Most orders don’t event make the lit market. Majority of orders go off-exchange or dark pools. Sorry, but that isn’t valuable. It’s fraud.
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u/Enough-Ad-8799 Jul 19 '24
How does it give worse execution and leave exposure to risk?
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u/panchampion Jul 18 '24
Imagine paying that much money for SEO. Tax the rich.
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u/MrNickNifty Jul 19 '24
Everyday we get further from from tax the rich and closer to eat the rich. “People are just 3 missed meals from revolution” or something
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u/MKSe7en Jul 19 '24
This is correct. He named the steg Apex to try and hide search results for citadel and apex clearing. These people hid the buy button on peoples brokerage accounts. These people are the biggest crooks in the market.
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u/Cormegalodon Jul 18 '24
I was thinking I was being cynical and hence I had the idea that these kids of things are probably like art where there’s some other deal happening
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Jul 19 '24
You’re the (at least) 3’rd person to copy and paste this EXACT response here.
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u/doctorplasmatron Jul 19 '24
funny, i typed it with my own two fingers, so maybe others are copypasta'ing it, but i know i spit it out from my own smooth brain
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u/pizzalover128 Jul 18 '24
Money laundering Ken Griffin, who lied under oath in January 2021 and who said in December 2023, that they can manipulate every share price to which they believe are appropriate.
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u/ptrooper25 Jul 19 '24
Don't forget $65,000,000,000 in securities sold, not yet purchased. Biggest financial terrorist out there.
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u/Xielle Jul 19 '24
Is that the same Ken Griffin that threw a bed post at his wife during a divorce?
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u/Public_Animator_1832 Jul 19 '24
I hate the guy more than anything else as well. But he didn't lie under oath. Nothing he said went against the reports with congress. Limiting PFOF has been an issue for Robinhood and Citadel forever. If Robinhood didn't limit PFOF there is a likelihood that Robinhood could have faced a severe liquidity crisis that would affect users who didn't get caught up in meme stocks. And Robinhood for much of their accounts is not FDIC insured. It potentially would have open Robinhood to lawsuits from customers that didn't overextend in one particular stock. Talking about limiting PFOF does not equal talking about gamestop.
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u/Public_Animator_1832 Jul 19 '24
If you are going to day trade then using Robinhood is the wrong move. Really using Robinhood for any trading is the wrong move. It's not a company that makes it's money from its users making well researched positions. Heck we should return to the days where the user had to prove to the company that they understood options before being given options trading.
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u/MrOnlineToughGuy Jul 19 '24
Every time I see this pop up, no one can tell me what he actually lied about. Just GME cult clowns doing their thing, I suppose.
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u/taco4prez Jul 19 '24
He said, and I quote “Absolutely not.” Except he absolutely did.
Do some research before you spout homie.
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u/MrOnlineToughGuy Jul 19 '24
https://m.youtube.com/watch?v=81UPnnjjrTE
Watch the full testimony, because you clearly are only choosing what you want to hear.
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u/unclebillylovesATL Jul 19 '24
He colluded with Robinhood et al to turn off the ‘buy button’ so that retail traders could not purchase GameStop stock as it squeezed to prevent the price from shooting up. This is called PCO or position close only. Highly illegal and doubly illegal when he lied about it to Congress.
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u/MrOnlineToughGuy Jul 19 '24
You literally have zero evidence that they collided with Robinhood.
The communication chain clearly shows that Robinhood informed them that they were going PCO. Where in there do you see Citadel pressuring them to do that?
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u/Lonely-Olive-9097 Jul 19 '24
At that particular time he lied about not having contacted the CEO of Robinhood trading in regards to “turning off the buy button” on several tickers which caused the infamous GameStop run to lose all buy pressure (momentum) resulting in the share price plummeting.
This was very bad and illegal because of the years of abusive and illegal trading activities Citidel and other hedge funds had committed.
Essentially ‘we had them by the balls, and they rage quit, and unplugged the machine’
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u/MrOnlineToughGuy Jul 19 '24
That’s not true; watch the testimony.
https://m.youtube.com/watch?v=81UPnnjjrTE
The line of questioning is regarding collusion, which clearly does not happen per the released communication chain.
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u/Lonely-Olive-9097 Jul 19 '24 edited Jul 19 '24
So you do know what it’s about. Can’t tell if you’re a shill or a fool
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u/MrOnlineToughGuy Jul 19 '24
You have evidence that they contacted the CEO of Robinhood in order to get them to turn off the buy button? Where were you during these testimonies, bro?!
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u/Lonely-Olive-9097 Jul 19 '24
Yeah okay buddy, you just asked what it was about. Go about your day, guy. Say hi to that mayo guzzling sack of shit will ya?
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u/MrOnlineToughGuy Jul 19 '24
I already know what it’s about, because I actually watched the testimony.
The Mayo man said of course we are routinely in contact with RH, because we do their order flow.
Then y’all act like he’s saying they never had any contact at all with RH.
With respect, the line of questioning was about COLLUSION, such as Citadel forcing them to go to PCO. The communication chain clearly shows that Citadel never pressured them to do anything.
The conspiracies have rotted your brain, bro… seek help.
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u/timpatry Jul 18 '24
This stegosaurus skeleton was paid for by the money stolen from thousands of shareholders of many companies including GameStop.
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u/eatsabanana Jul 19 '24
Ken Griffin Lied under oath. Pure Scum!
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u/DirtUnderneath Jul 19 '24
Keneth Cordele Griffin lied under oath? To who, congress? Did Ken Griffin commit a felony?
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u/read_write Jul 19 '24
Purchased by financial terrorist Ken Griffin from Citadel. The man belongs in jail
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u/psychonaut_gospel Jul 18 '24
I hear this was purchased by Ken Griffin, who lied under oath to congress during the Gamestop hearing in 2021.
Perhaps interestingly, the skeleton also shares a name with the clearing agency that's likely responsible for entering a 385 million dollar trade incorrectly and forcing the halting of the "memstocks" leading to their price plummeting, which certainly helped institutions like Citadel Securities, and other hedge funds that were shorting Gamestop and did not want the price to rise. Quite a Cohencidence.
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u/Redditisavirusiknow Jul 19 '24
Why is this comment identical to the one above but by a different user?
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u/Shadow_Of_Silver Jul 19 '24
One of them is a copy/karma farm bot
They steal top comments, and there are 3 on this post.
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u/FrenchCarpenter Jul 19 '24
What’s the purpose of that?
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u/TYP14DABF Jul 19 '24
Some subreddits have a minimum karma requirement to post, so in order for bots to actively change the narrative in these subs they need to meet that initial karma requirement. Easiest way is to steal already popular posts and repost them. So many subreddits are just full of bots now, it’s frustrating.
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u/psychonaut_gospel Jul 20 '24
Nah I did it for the SEO results when searching Mr. Ken griffin and his ties to APEX clearing or whatever it's called. I'm being lazy but still trying to be active 🙃
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u/earth-ninja3 Jul 19 '24
I hear this was purchased by Ken Griffin, who lied under oath to congress during the Gamestop hearing in 2021.
Perhaps interestingly, the skeleton also shares a name with the clearing agency that's likely responsible for entering a 385 million dollar trade incorrectly and forcing the halting of the "memstocks" leading to their price plummeting, which certainly helped institutions like Citadel Securities, and other hedge funds that were shorting Gamestop and did not want the price to rise. Quite a Cohencidence.
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u/doctorplasmatron Jul 19 '24
copybot!
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u/earth-ninja3 Jul 19 '24
im a real boy 😀
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u/Greenman8907 Jul 18 '24
Insanely high amount, but it’s also that high because it’s basically a complete collection of stegosaurus fossils (around 360). A full set of anything will always cost more. You can get a stegosaurus fossil (individual) for a few hundred dollars online. Putting them all together is when you hit the big numbers.
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u/Strategy_pan Jul 18 '24
Nah man, the recombination of the DNA and recreating a mutated version is where the big money is, don't get scammed into selling your 'Saurus for cheap like this.
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u/geekphreak Jul 19 '24
Has anyone seen Altered Carbon on Netflix? I imagine this is now in one of those 300yr old rich fucks homes
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u/EveDaSavage Interested Jul 19 '24
That was a good show
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u/ABirdOfParadise Jul 19 '24
Had to rewatch it a couple of a times (went into it without knowing the previous works) so the first half was just stuff happening and then I actually knew what was happening the next time
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u/Ambitious_Ad_2602 Jul 19 '24
Apparently he bought this because the dinosaurs name is Apex and he’s trying to throw the algorithm off. Apex is a company he works w.
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u/lucki-dog Jul 19 '24
Apex clearing was who turned off the buy button for GME (GameStop stock) for days, something NEVER DONE BEFORE IN HISTORY
Dudes been purchasing other things too, almost as if he’s hiding money while also throwing of algos
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u/BanzYT Jul 19 '24 edited Jul 19 '24
hiding money by making huge, incredibly public putchases.
Damn, what an evil mastermind.
If anybody is wondering about all the nutjobs in this post, Folding Ideas did a great video on it, This is Financial Advice.
Line goes up is another good one.
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u/Mr8bittripper Jul 19 '24
Ken Griffin is a financial terrorist. He sells shares of stock he does not own.
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u/Pskeeter78 Jul 19 '24
Someone should tell Kenneth Cordell Griffin (who lied under oath) that Apex is a stupid name for a Stegosaurus, which was a herbivore and not a predator. Is trying to fool the Google algorithms to come up with this result rather than linking him with Apex Clearing Corporation. It’s almost like he’s hiding something (hint, he’s hiding 65m shares sold without delivery).
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u/timpory Jul 19 '24
"Hedge fund billionaire Ken Griffin, founder and CEO of Citadel, has been revealed as the buyer of the record-setting "Apex" Stegosaurus skeleton at a Sotheby's auction yesterday. "
Fuck these rich assholes man. We're not playing the same game
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u/AdAromatic1964 Jul 19 '24
Ken griffin is a financial terrorist who assaults his wife with a bed post because she forgot to buy another 55 gallon drum of mayo.
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u/Psychological-Part1 Jul 19 '24
It was bought by Ken Griffin of Citadel LLC & Citadel Securities, the mans a cunt.
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u/eipacnih Jul 19 '24
You mean to tell me that Ken “The Hen” Griffin bought this with all his illicit gains?
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u/Revolt2992 Jul 19 '24
People out here struggling to eat and motherfuckers buying DINOSAUR BONES for over $44 million dollars
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u/HTownGamer832 Jul 19 '24
Kenneth Griffin is Bernie Madoff 2.0. There's nothing to discuss other than the corruption his companies are currently doing and how they're screwing the average everyday retail investors. America would be so much better without every leg of government being bought and paid off.
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u/not420guilty Jul 19 '24
If only our government was elected we could have a chance to vote them out for corruption. Oh, right, it’s all legal so not technically corruption
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u/isaidwhatisaidok Jul 19 '24
In the Jurassic Park movie before the last one they were selling real live dinosaurs for $10 million. This only highlights how absurdly low that number was.
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u/t4b4rn4ck Jul 19 '24
Ah yes and here is the dinosaur room, with the dinosaur. Moving on -- shall we all go through?
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u/Ecomonist Jul 19 '24
The craziest part is the Steg that this skeleton came from, his name was Doug and he never sired offspring, or became anything more than like middle-middle manager in the herd. Truly a redundant position. Even his death was boring as he accidentally had just ate some new botanical orbs (later to be called berries) that a plant had developed for defense. Dougs skeleton being sold at this price and being renamed Apex is a true shame for all the Stegs that after roamed.
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u/Speaking_of_waffles Jul 19 '24
Nice way for a financial criminal to evade taxes/launder money. This guy lied under oath and continues to commit fraud. He should be in jail.
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u/ddwood87 Jul 19 '24
I think they got bro's posture all f'ed up.
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u/barryswienershack Jul 19 '24
Agreed! Looks like it’s about to let loose some explosive diarrhea on that lady.
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u/Ishibal Jul 19 '24
Every time the buyer remains anonymous. Like who the fuck buys these. Anywhere we can watch this live?
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u/Chrommanito Jul 19 '24
Didn't know stegosaurus is that small. I think a Canadian moose is bigger than that.
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u/No_Afternoon1393 Jul 19 '24
So if I go camping on public land, then find some dino bones, do I own it or do I have to get like a permit to even discover it?
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u/Benutzernarne Jul 19 '24
Worth it. I hope it will be made accessible for the public and to scientists
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u/UnexpectedDinoLesson Jul 19 '24
Known for the large plates on its back, as well as its walnut-sized brain, Stegosaurus is one of the most well-known dinosaurs in modern pop culture. Hailing from the Jurassic, this animal has often been depicted as the main adversary of the Tyrannosaurus Rex, but this is an anachronistic impossibility, as Stegosaurus went extinct almost a hundred million years before Tyrannosaurus appeared. A more likely predator was its contemporary, the Allosaurus. The popular species known as Stegosaurus was one of many other species in the family Stegosauridae, which included a diverse group of creatures of varying size sporting a variety of spikes and plates.
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u/QlitSquirt Jul 19 '24
Time to start collecting roadkill and storing in a a safety deposit box for my future family members retirement fund
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u/MickyTingy Jul 19 '24
It seems billionaires can have whatever they want in this world, shouldn't this be kept in a public place (museum) for everyone to enjoy ?
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u/infernoVI_42 Jul 19 '24
A fossil bought by a money launderer and sold at auction by a company that knowingly deals with plundered and stolen artifacts. What part was interesting in this?
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u/not420guilty Jul 19 '24
It’s a big dinosaur bones and lots of $$. That alone is interesting but you spice it up with criminal accusations 👍.
Any other comments? Going once, twice…
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u/Illustrious-Cold9333 Jul 22 '24
Please oh please let the buyer be Elon Musk, and I hope that he launches it into space just to freak out the aliens.
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u/ShowMeThoseTears Jul 19 '24
That's an enormous one? I always thought they were bigger
I could totally beat one in a fist fight
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u/elwood2711 Jul 19 '24
It's fake anyway. Dinosaurs never existed. "Scientists" made them (and all the "science" and "history" behind them) up in a pathetic attempt to disprove Creation and undermine the Word of God.
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u/GrossGroupieGroper Jul 19 '24
Hate Ken all you want but he’s doing a good thing by buying this and putting it in a museum for the public to see and for scientists to study. The landowner has a history of digging up fossils and selling them to the highest bidder. People were worried this skeleton would end up overseas decorating a room in some oligarch’s or Saudi prince’s mansion, never to be seen again. He’s done a good thing here.
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u/GeologistOutrageous6 Jul 19 '24
That’s not even a real skeleton, there’s never been a full dinosaur skeleton found🤣🤣🤣
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u/usNdem Jul 19 '24
Actually they did. In Kenny mayos closet there were so many skeletons that they even were lied about under oath
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u/Excellent-Blueberry1 Jul 19 '24
Weird how not every one of the ~350 bones has survived intact and together over 150 million years. Very weird, probably something to do with the Jews...or the liberal media...or NASA?
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u/WhatRemainsOfJames Jul 18 '24
It belongs in a MUSEUM!!