Dan Shark, a semi-professional poker player and hedge fund manager, reached a settlement with the Commodity Futures Trading Commission (CFTC) two years after he was charged with spoofing. Shark was confident he could have won the trial, but decided it was more important to resolve the issue quickly.

According to CFTC’s claim, Shak attempted to manipulate and spoof the gold and silver markets. Spoofing refers to the practice of placing market orders and canceling them just before fulfillment, which allows hands-on workers to manipulate the markets illegally.

The CFTC argued that Shark made hundreds of orders for gold and silver futures between February 2015 and March 2018 and was willing to cancel them. He usually placed a small order he was trying to execute, and later placed a larger rest order on the other side of the market to fulfill his first order and then said he would cancel it. 슬롯머신

According to the charges, Shark said he “knew or was reckless that his spoof order would send the wrong supply and demand signal to the market and deceive or deceive other market participants.”