Feb. 3 at 2:56 AM
$FFAI Public market records (FINRA/NASDAQ/SEC + securities-lending snapshots) show persistent off-exchange internalization (~60–75% of daily volume), repeated stepwise borrow-availability refills while cost-to-borrow holds ~9.7–10.4%, concentrated options open interest at the
$1.00–
$1.50 strikes, and episodic fails-to-deliver that resolve within Reg-SHO close-out windows; these **observable, timestamped facts** describe a durable, dealer-administered microstructure that *materially constrains lit-venue price discovery* and — while not proof of misconduct on public evidence alone — plainly justify immediate CAT and prime-broker ledger review.
