Onyx Exchange - Revision history

Gert7 at 15:52, 12 August 2026

2026-08-12T15:52:25Z

← Older revision		Revision as of 15:52, 12 August 2026
Line 16:		Line 16:
	On 30 January, Democracy Daily reporter Partypig678 received an anonymous report detailing strife between the DEC and Congress, accusing the DEC Secretary of appropriating $200,000 in [[pruning tax]] funds to bail out the Exchange, side-stepping the budget process. The report details that on 17 January, ElainaThomas29 had given Wuutie an ownership split of Onyx Industries, with 60% belonging to Elaina and 40% to Wuutie, providing the Exchange with enough money to stay solvent and avoiding the need for a government bailout. The bailout money, however, had already been transferred to Wuutie, who had already invested it into the Exchange's balance. Wuutie then published a document titled "Failed Negotiations", which was authored by thritystone. The document detailed that the DEC had wanted to use the $200,000 in pruning tax funds to effectively acquire a part of the Exchange's autonomy, transforming it into a government entity and obtaining access to the private trading information of citizens and companies. Unable to retrieve the bailout money from the Exchange, the DEC fined Wuutie's personal account for an equivalent sum on 18 January.<ref name=":2" />		On 30 January, Democracy Daily reporter Partypig678 received an anonymous report detailing strife between the DEC and Congress, accusing the DEC Secretary of appropriating $200,000 in [[pruning tax]] funds to bail out the Exchange, side-stepping the budget process. The report details that on 17 January, ElainaThomas29 had given Wuutie an ownership split of Onyx Industries, with 60% belonging to Elaina and 40% to Wuutie, providing the Exchange with enough money to stay solvent and avoiding the need for a government bailout. The bailout money, however, had already been transferred to Wuutie, who had already invested it into the Exchange's balance. Wuutie then published a document titled "Failed Negotiations", which was authored by thritystone. The document detailed that the DEC had wanted to use the $200,000 in pruning tax funds to effectively acquire a part of the Exchange's autonomy, transforming it into a government entity and obtaining access to the private trading information of citizens and companies. Unable to retrieve the bailout money from the Exchange, the DEC fined Wuutie's personal account for an equivalent sum on 18 January.<ref name=":2" />

	The anonymous report also revealed that the economic situation report, originally circulated in the government on the 7th and declassified on the 15th, led to thritystone announcing a "trade suspension" on Congress and Cabinet officials who had read it. The Speaker of the House told the newspaper that the ~~trading~~ suspension ~~mandated on [[Congress]] members~~ was soon reversed after a discussion with others in the Executive branch, as it was found to be "an overreaction to an issue that only a couple representatives at most were involved in".<ref name=":2">{{Cite news\|url=https://discord.com/channels/673612908868927498/754622580777812130/937227554379669544\|title=DEC Faces Budget Controversy\|newspaper=Democracy Daily\|publication_date=30 January 2022}}</ref>		The anonymous report also revealed that the economic situation report, originally circulated in the government on the 7th and declassified on the 15th, led to thritystone announcing a "trade suspension" on [[Congress]] and Cabinet officials who had read it. The Speaker of the House told the newspaper that the suspension was soon reversed after a discussion with others in the Executive branch, as it was found to be "an overreaction to an issue that only a couple representatives at most were involved in".<ref name=":2">{{Cite news\|url=https://discord.com/channels/673612908868927498/754622580777812130/937227554379669544\|title=DEC Faces Budget Controversy\|newspaper=Democracy Daily\|publication_date=30 January 2022}}</ref>

	On 19 February, Wuutie began accepting Expressions of Interest for the CEO position.<ref>{{Cite news\|url=https://discord.com/channels/673612908868927498/754622580777812130/947750242072281129\|newspaper=The Daily Chip\|title=The Race for CEO\|publication_date=28 February 2022}}</ref> On 16 April, the Onyx Exchange had been crossed out on a list of companies that had not responded to the DEC's activity update.<ref>{{Cite web\|url=https://discord.com/channels/673612908868927498/686158870435201035/964649085988667412\|title=Nonresponsive Companies\|publication_date=16 April 2022\|access_date=11 August 2026\|publisher=[[Department of Education and Commerce]]}}</ref>		On 19 February, Wuutie began accepting Expressions of Interest for the CEO position.<ref>{{Cite news\|url=https://discord.com/channels/673612908868927498/754622580777812130/947750242072281129\|newspaper=The Daily Chip\|title=The Race for CEO\|publication_date=28 February 2022}}</ref> On 16 April, the Onyx Exchange had been crossed out on a list of companies that had not responded to the DEC's activity update.<ref>{{Cite web\|url=https://discord.com/channels/673612908868927498/686158870435201035/964649085988667412\|title=Nonresponsive Companies\|publication_date=16 April 2022\|access_date=11 August 2026\|publisher=[[Department of Education and Commerce]]}}</ref>

Gert7 at 09:56, 11 August 2026

2026-08-11T09:56:44Z

← Older revision		Revision as of 09:56, 11 August 2026
Line 14:		Line 14:
	On 15 January, thritystone published a declassified economic situation report announcing that the Exchange was in "significant debts", with only $56,000 in liquid assets, unable to pay when an investor requested the sudden return of $140,000 in credit. This led to the immediate liquidation of [[Black Rock]] shares and a "loan" from [[Binance]] to Onyx to cover the difference. thritystone attributed part of the problem to the valuation method used, calling it "not sound" as it relied on the opinion of the company owner as part of an equation. The report found the Exchange to be overvalued at $25 million, noting that faith in the institution was the only thing preventing a recession, and that a government bailout would be issued if another abnormal withdrawal request were made, possibly by purchasing Onyx shares.<ref>{{Cite web\|url=https://discord.com/channels/673612908868927498/686158870435201035/931998430228791346\|title=Economic Situation Report (de-classified)\|publisher=[[Department of Education and Commerce]]\|publication_date=15 January 2022\|access_date=11 August 2026}}</ref>		On 15 January, thritystone published a declassified economic situation report announcing that the Exchange was in "significant debts", with only $56,000 in liquid assets, unable to pay when an investor requested the sudden return of $140,000 in credit. This led to the immediate liquidation of [[Black Rock]] shares and a "loan" from [[Binance]] to Onyx to cover the difference. thritystone attributed part of the problem to the valuation method used, calling it "not sound" as it relied on the opinion of the company owner as part of an equation. The report found the Exchange to be overvalued at $25 million, noting that faith in the institution was the only thing preventing a recession, and that a government bailout would be issued if another abnormal withdrawal request were made, possibly by purchasing Onyx shares.<ref>{{Cite web\|url=https://discord.com/channels/673612908868927498/686158870435201035/931998430228791346\|title=Economic Situation Report (de-classified)\|publisher=[[Department of Education and Commerce]]\|publication_date=15 January 2022\|access_date=11 August 2026}}</ref>

	On 30 January, Democracy Daily reporter Partypig678 received an anonymous report detailing strife between the DEC and Congress, accusing the DEC Secretary of appropriating $200,000 in [[pruning tax]] funds to bail out the Exchange, side-stepping the budget process. The report details that on 17 January, ElainaThomas29 had given Wuutie an ownership split of Onyx Industries, with 60% belonging to Elaina and 40% to Wuutie, providing the Exchange with enough money to stay solvent. Wuutie then published a document titled "Failed Negotiations", which was authored by thritystone. The document detailed that the DEC had wanted to use the $200,000 in pruning tax funds to effectively acquire a part of the Exchange's autonomy, transforming it into a government entity and obtaining access to the private trading information of citizens and companies~~. The money, however, was already transferred to Wuutie, had already been invested into the Exchange's balance~~. Unable to retrieve the bailout money from the Exchange, the DEC fined Wuutie's personal account for an equivalent sum on 18 January.<ref name=":2" />		On 30 January, Democracy Daily reporter Partypig678 received an anonymous report detailing strife between the DEC and Congress, accusing the DEC Secretary of appropriating $200,000 in [[pruning tax]] funds to bail out the Exchange, side-stepping the budget process. The report details that on 17 January, ElainaThomas29 had given Wuutie an ownership split of Onyx Industries, with 60% belonging to Elaina and 40% to Wuutie, providing the Exchange with enough money to stay solvent and avoiding the need for a government bailout. The bailout money, however, had already been transferred to Wuutie, who had already invested it into the Exchange's balance. Wuutie then published a document titled "Failed Negotiations", which was authored by thritystone. The document detailed that the DEC had wanted to use the $200,000 in pruning tax funds to effectively acquire a part of the Exchange's autonomy, transforming it into a government entity and obtaining access to the private trading information of citizens and companies. Unable to retrieve the bailout money from the Exchange, the DEC fined Wuutie's personal account for an equivalent sum on 18 January.<ref name=":2" />

	The anonymous report also revealed that the economic situation report, originally circulated in the government on the 7th and declassified on the 15th, led to thritystone announcing a "trade suspension" on Congress and Cabinet officials who had read it. The Speaker of the House told the newspaper that the trading suspension mandated on [[Congress]] members was soon reversed after a discussion with others in the Executive branch, as it was found to be "an overreaction to an issue that only a couple representatives at most were involved in".<ref name=":2">{{Cite news\|url=https://discord.com/channels/673612908868927498/754622580777812130/937227554379669544\|title=DEC Faces Budget Controversy\|newspaper=Democracy Daily\|publication_date=30 January 2022}}</ref>		The anonymous report also revealed that the economic situation report, originally circulated in the government on the 7th and declassified on the 15th, led to thritystone announcing a "trade suspension" on Congress and Cabinet officials who had read it. The Speaker of the House told the newspaper that the trading suspension mandated on [[Congress]] members was soon reversed after a discussion with others in the Executive branch, as it was found to be "an overreaction to an issue that only a couple representatives at most were involved in".<ref name=":2">{{Cite news\|url=https://discord.com/channels/673612908868927498/754622580777812130/937227554379669544\|title=DEC Faces Budget Controversy\|newspaper=Democracy Daily\|publication_date=30 January 2022}}</ref>

Gert7: Wuutie fined

2026-08-11T09:53:24Z

Wuutie fined

← Older revision		Revision as of 09:53, 11 August 2026
Line 14:		Line 14:
	On 15 January, thritystone published a declassified economic situation report announcing that the Exchange was in "significant debts", with only $56,000 in liquid assets, unable to pay when an investor requested the sudden return of $140,000 in credit. This led to the immediate liquidation of [[Black Rock]] shares and a "loan" from [[Binance]] to Onyx to cover the difference. thritystone attributed part of the problem to the valuation method used, calling it "not sound" as it relied on the opinion of the company owner as part of an equation. The report found the Exchange to be overvalued at $25 million, noting that faith in the institution was the only thing preventing a recession, and that a government bailout would be issued if another abnormal withdrawal request were made, possibly by purchasing Onyx shares.<ref>{{Cite web\|url=https://discord.com/channels/673612908868927498/686158870435201035/931998430228791346\|title=Economic Situation Report (de-classified)\|publisher=[[Department of Education and Commerce]]\|publication_date=15 January 2022\|access_date=11 August 2026}}</ref>		On 15 January, thritystone published a declassified economic situation report announcing that the Exchange was in "significant debts", with only $56,000 in liquid assets, unable to pay when an investor requested the sudden return of $140,000 in credit. This led to the immediate liquidation of [[Black Rock]] shares and a "loan" from [[Binance]] to Onyx to cover the difference. thritystone attributed part of the problem to the valuation method used, calling it "not sound" as it relied on the opinion of the company owner as part of an equation. The report found the Exchange to be overvalued at $25 million, noting that faith in the institution was the only thing preventing a recession, and that a government bailout would be issued if another abnormal withdrawal request were made, possibly by purchasing Onyx shares.<ref>{{Cite web\|url=https://discord.com/channels/673612908868927498/686158870435201035/931998430228791346\|title=Economic Situation Report (de-classified)\|publisher=[[Department of Education and Commerce]]\|publication_date=15 January 2022\|access_date=11 August 2026}}</ref>

	On 30 January, Democracy Daily reporter Partypig678 received an anonymous report detailing strife between the DEC and Congress, accusing the DEC Secretary of appropriating $200,000 in [[pruning tax]] funds to bail out the Exchange, side-stepping the budget process. The report details that on 17 January, ElainaThomas29 had given Wuutie an ownership split of Onyx Industries, with 60% belonging to Elaina and 40% to Wuutie, providing the Exchange with enough money to stay solvent. Wuutie then published a document titled "Failed Negotiations", which was authored by thritystone. The document detailed that the DEC ~~would~~ use the $200,000 in pruning tax funds to effectively acquire a part of the Exchange's autonomy, transforming it into a government entity and obtaining access to the private trading information of citizens and companies.<ref name=":2" />		On 30 January, Democracy Daily reporter Partypig678 received an anonymous report detailing strife between the DEC and Congress, accusing the DEC Secretary of appropriating $200,000 in [[pruning tax]] funds to bail out the Exchange, side-stepping the budget process. The report details that on 17 January, ElainaThomas29 had given Wuutie an ownership split of Onyx Industries, with 60% belonging to Elaina and 40% to Wuutie, providing the Exchange with enough money to stay solvent. Wuutie then published a document titled "Failed Negotiations", which was authored by thritystone. The document detailed that the DEC had wanted to use the $200,000 in pruning tax funds to effectively acquire a part of the Exchange's autonomy, transforming it into a government entity and obtaining access to the private trading information of citizens and companies. The money, however, was already transferred to Wuutie, had already been invested into the Exchange's balance. Unable to retrieve the bailout money from the Exchange, the DEC fined Wuutie's personal account for an equivalent sum on 18 January.<ref name=":2" />

	The anonymous report also revealed that the economic situation report, originally circulated in the government on the 7th and declassified on the 15th, led to thritystone announcing a "trade suspension" on Congress and Cabinet officials who had read it. The Speaker of the House told the newspaper that the trading suspension mandated on [[Congress]] members was soon reversed after a discussion with others in the Executive branch, as it was found to be "an overreaction to an issue that only a couple representatives at most were involved in".<ref name=":2">{{Cite news\|url=https://discord.com/channels/673612908868927498/754622580777812130/937227554379669544\|title=DEC Faces Budget Controversy\|newspaper=Democracy Daily\|publication_date=30 January 2022}}</ref>		The anonymous report also revealed that the economic situation report, originally circulated in the government on the 7th and declassified on the 15th, led to thritystone announcing a "trade suspension" on Congress and Cabinet officials who had read it. The Speaker of the House told the newspaper that the trading suspension mandated on [[Congress]] members was soon reversed after a discussion with others in the Executive branch, as it was found to be "an overreaction to an issue that only a couple representatives at most were involved in".<ref name=":2">{{Cite news\|url=https://discord.com/channels/673612908868927498/754622580777812130/937227554379669544\|title=DEC Faces Budget Controversy\|newspaper=Democracy Daily\|publication_date=30 January 2022}}</ref>

Gert7: Failed Negotiations

2026-08-11T09:48:38Z

Failed Negotiations

← Older revision		Revision as of 09:48, 11 August 2026
Line 14:		Line 14:
	On 15 January, thritystone published a declassified economic situation report announcing that the Exchange was in "significant debts", with only $56,000 in liquid assets, unable to pay when an investor requested the sudden return of $140,000 in credit. This led to the immediate liquidation of [[Black Rock]] shares and a "loan" from [[Binance]] to Onyx to cover the difference. thritystone attributed part of the problem to the valuation method used, calling it "not sound" as it relied on the opinion of the company owner as part of an equation. The report found the Exchange to be overvalued at $25 million, noting that faith in the institution was the only thing preventing a recession, and that a government bailout would be issued if another abnormal withdrawal request were made, possibly by purchasing Onyx shares.<ref>{{Cite web\|url=https://discord.com/channels/673612908868927498/686158870435201035/931998430228791346\|title=Economic Situation Report (de-classified)\|publisher=[[Department of Education and Commerce]]\|publication_date=15 January 2022\|access_date=11 August 2026}}</ref>		On 15 January, thritystone published a declassified economic situation report announcing that the Exchange was in "significant debts", with only $56,000 in liquid assets, unable to pay when an investor requested the sudden return of $140,000 in credit. This led to the immediate liquidation of [[Black Rock]] shares and a "loan" from [[Binance]] to Onyx to cover the difference. thritystone attributed part of the problem to the valuation method used, calling it "not sound" as it relied on the opinion of the company owner as part of an equation. The report found the Exchange to be overvalued at $25 million, noting that faith in the institution was the only thing preventing a recession, and that a government bailout would be issued if another abnormal withdrawal request were made, possibly by purchasing Onyx shares.<ref>{{Cite web\|url=https://discord.com/channels/673612908868927498/686158870435201035/931998430228791346\|title=Economic Situation Report (de-classified)\|publisher=[[Department of Education and Commerce]]\|publication_date=15 January 2022\|access_date=11 August 2026}}</ref>

	On 30 January, Democracy Daily reporter Partypig678 received an anonymous report detailing strife between the DEC and Congress, accusing the DEC Secretary of appropriating $200,000 in [[pruning tax]] funds to bail out the Exchange, side-stepping the budget process. It was also revealed that the economic situation report, originally circulated in the government on the 7th and declassified on the 15th, led to thritystone announcing a "trade suspension" on Congress and Cabinet officials who had read it. The Speaker of the House told the newspaper that the trading suspension mandated on [[Congress]] members was soon reversed after a discussion with others in the Executive branch, as it was found to be "an overreaction to an issue that only a couple representatives at most were involved in".<ref name=":2">{{Cite news\|url=https://discord.com/channels/673612908868927498/754622580777812130/937227554379669544\|title=DEC Faces Budget Controversy\|newspaper=Democracy Daily\|publication_date=30 January 2022}}</ref>		On 30 January, Democracy Daily reporter Partypig678 received an anonymous report detailing strife between the DEC and Congress, accusing the DEC Secretary of appropriating $200,000 in [[pruning tax]] funds to bail out the Exchange, side-stepping the budget process. The report details that on 17 January, ElainaThomas29 had given Wuutie an ownership split of Onyx Industries, with 60% belonging to Elaina and 40% to Wuutie, providing the Exchange with enough money to stay solvent. Wuutie then published a document titled "Failed Negotiations", which was authored by thritystone. The document detailed that the DEC would use the $200,000 in pruning tax funds to effectively acquire a part of the Exchange's autonomy, transforming it into a government entity and obtaining access to the private trading information of citizens and companies.<ref name=":2" />

			The anonymous report also revealed that the economic situation report, originally circulated in the government on the 7th and declassified on the 15th, led to thritystone announcing a "trade suspension" on Congress and Cabinet officials who had read it. The Speaker of the House told the newspaper that the trading suspension mandated on [[Congress]] members was soon reversed after a discussion with others in the Executive branch, as it was found to be "an overreaction to an issue that only a couple representatives at most were involved in".<ref name=":2">{{Cite news\|url=https://discord.com/channels/673612908868927498/754622580777812130/937227554379669544\|title=DEC Faces Budget Controversy\|newspaper=Democracy Daily\|publication_date=30 January 2022}}</ref>

	On 19 February, Wuutie began accepting Expressions of Interest for the CEO position.<ref>{{Cite news\|url=https://discord.com/channels/673612908868927498/754622580777812130/947750242072281129\|newspaper=The Daily Chip\|title=The Race for CEO\|publication_date=28 February 2022}}</ref> On 16 April, the Onyx Exchange had been crossed out on a list of companies that had not responded to the DEC's activity update.<ref>{{Cite web\|url=https://discord.com/channels/673612908868927498/686158870435201035/964649085988667412\|title=Nonresponsive Companies\|publication_date=16 April 2022\|access_date=11 August 2026\|publisher=[[Department of Education and Commerce]]}}</ref>		On 19 February, Wuutie began accepting Expressions of Interest for the CEO position.<ref>{{Cite news\|url=https://discord.com/channels/673612908868927498/754622580777812130/947750242072281129\|newspaper=The Daily Chip\|title=The Race for CEO\|publication_date=28 February 2022}}</ref> On 16 April, the Onyx Exchange had been crossed out on a list of companies that had not responded to the DEC's activity update.<ref>{{Cite web\|url=https://discord.com/channels/673612908868927498/686158870435201035/964649085988667412\|title=Nonresponsive Companies\|publication_date=16 April 2022\|access_date=11 August 2026\|publisher=[[Department of Education and Commerce]]}}</ref>

Gert7 at 09:40, 11 August 2026

2026-08-11T09:40:20Z

← Older revision		Revision as of 09:40, 11 August 2026
Line 12:		Line 12:
	The next day, Secretary [[thritystone]] of the [[Department of Education and Commerce]] (DEC) announced that the Onyx Exchange was "fine" and had full confidence in Wuutie's abilities to run it, noting that it had experienced a "temporary liquidity problem" attributed to clients making an "abnormally large withdrawal".<ref>{{Cite news\|url=https://discord.com/channels/673612908868927498/686158870435201035/928707305493651456\|title=The Onyx Exchange is Fine\|newspaper=[[Department of Education and Commerce]]\|author=[[thritystone]]\|publication_date=6 January 2022}}</ref> They announced the creation of a higher reserve to mitigate such issues in the future.<ref>{{Cite news\|url=https://discord.com/channels/673612908868927498/754622580777812130/929743323596464190\|title=Exchange's Future\|newspaper=Binance\|publication_date=9 January 2022}}</ref> [[Nacholebraa]], the CEO of the Chip Corporation, cited the Exchange's policy of allowing a 2-month gap between financial reports as a source of misinformation for investors.<ref name=":1" />		The next day, Secretary [[thritystone]] of the [[Department of Education and Commerce]] (DEC) announced that the Onyx Exchange was "fine" and had full confidence in Wuutie's abilities to run it, noting that it had experienced a "temporary liquidity problem" attributed to clients making an "abnormally large withdrawal".<ref>{{Cite news\|url=https://discord.com/channels/673612908868927498/686158870435201035/928707305493651456\|title=The Onyx Exchange is Fine\|newspaper=[[Department of Education and Commerce]]\|author=[[thritystone]]\|publication_date=6 January 2022}}</ref> They announced the creation of a higher reserve to mitigate such issues in the future.<ref>{{Cite news\|url=https://discord.com/channels/673612908868927498/754622580777812130/929743323596464190\|title=Exchange's Future\|newspaper=Binance\|publication_date=9 January 2022}}</ref> [[Nacholebraa]], the CEO of the Chip Corporation, cited the Exchange's policy of allowing a 2-month gap between financial reports as a source of misinformation for investors.<ref name=":1" />

	On 15 January, thritystone published a declassified economic situation report announcing that the Exchange was in "significant debts", with only $56,000 in liquid assets, unable to pay when an investor requested the sudden return of $140,000 in credit. This led to the immediate liquidation of [[Black Rock]] shares and a "loan" from [[Binance]] to Onyx to cover the difference. thritystone attributed part of the problem to the valuation method used, calling it "not sound" as it relied on the opinion of the company owner as part of an equation. The report found the Exchange to be overvalued at $25 million, noting that faith in the institution was the only thing preventing a recession, and that a government bailout would be issued if another abnormal withdrawal request were made, possibly by purchasing Onyx shares.<ref>{{Cite web\|url=https://discord.com/channels/673612908868927498/686158870435201035/931998430228791346\|title=Economic Situation Report (de-classified)\|publisher=[[Department of Education and Commerce]]\|publication_date=15 January 2022\|access_date=11 August 2026}}</ref> thritystone also barred members of Congress from trading on the stock market.<ref name=":2">{{Cite news\|url=https://discord.com/channels/673612908868927498/754622580777812130/937227554379669544\|title=DEC Faces Budget Controversy\|newspaper=Democracy Daily\|publication_date=30 January 2022}}</ref>		On 15 January, thritystone published a declassified economic situation report announcing that the Exchange was in "significant debts", with only $56,000 in liquid assets, unable to pay when an investor requested the sudden return of $140,000 in credit. This led to the immediate liquidation of [[Black Rock]] shares and a "loan" from [[Binance]] to Onyx to cover the difference. thritystone attributed part of the problem to the valuation method used, calling it "not sound" as it relied on the opinion of the company owner as part of an equation. The report found the Exchange to be overvalued at $25 million, noting that faith in the institution was the only thing preventing a recession, and that a government bailout would be issued if another abnormal withdrawal request were made, possibly by purchasing Onyx shares.<ref>{{Cite web\|url=https://discord.com/channels/673612908868927498/686158870435201035/931998430228791346\|title=Economic Situation Report (de-classified)\|publisher=[[Department of Education and Commerce]]\|publication_date=15 January 2022\|access_date=11 August 2026}}</ref>

	On 30 January, Democracy Daily reporter Partypig678 received an anonymous report detailing strife between the DEC and Congress, accusing the DEC Secretary of appropriating $200,000 in [[pruning tax]] funds to bail out the Exchange, side-stepping the budget process. The Speaker of the House told the newspaper that the trading suspension mandated on [[Congress]] members was soon reversed after a discussion with others in the Executive branch, as it was found to be "an overreaction to an issue that only a couple representatives at most were involved in".<ref name=":2" />		On 30 January, Democracy Daily reporter Partypig678 received an anonymous report detailing strife between the DEC and Congress, accusing the DEC Secretary of appropriating $200,000 in [[pruning tax]] funds to bail out the Exchange, side-stepping the budget process. It was also revealed that the economic situation report, originally circulated in the government on the 7th and declassified on the 15th, led to thritystone announcing a "trade suspension" on Congress and Cabinet officials who had read it. The Speaker of the House told the newspaper that the trading suspension mandated on [[Congress]] members was soon reversed after a discussion with others in the Executive branch, as it was found to be "an overreaction to an issue that only a couple representatives at most were involved in".<ref name=":2">{{Cite news\|url=https://discord.com/channels/673612908868927498/754622580777812130/937227554379669544\|title=DEC Faces Budget Controversy\|newspaper=Democracy Daily\|publication_date=30 January 2022}}</ref>

	On 19 February, Wuutie began accepting Expressions of Interest for the CEO position.<ref>{{Cite news\|url=https://discord.com/channels/673612908868927498/754622580777812130/947750242072281129\|newspaper=The Daily Chip\|title=The Race for CEO\|publication_date=28 February 2022}}</ref> On 16 April, the Onyx Exchange had been crossed out on a list of companies that had not responded to the DEC's activity update.<ref>{{Cite web\|url=https://discord.com/channels/673612908868927498/686158870435201035/964649085988667412\|title=Nonresponsive Companies\|publication_date=16 April 2022\|access_date=11 August 2026\|publisher=[[Department of Education and Commerce]]}}</ref>		On 19 February, Wuutie began accepting Expressions of Interest for the CEO position.<ref>{{Cite news\|url=https://discord.com/channels/673612908868927498/754622580777812130/947750242072281129\|newspaper=The Daily Chip\|title=The Race for CEO\|publication_date=28 February 2022}}</ref> On 16 April, the Onyx Exchange had been crossed out on a list of companies that had not responded to the DEC's activity update.<ref>{{Cite web\|url=https://discord.com/channels/673612908868927498/686158870435201035/964649085988667412\|title=Nonresponsive Companies\|publication_date=16 April 2022\|access_date=11 August 2026\|publisher=[[Department of Education and Commerce]]}}</ref>

Gert7: Created page with "The '''Onyx Exchange''', sometimes referred to as '''the Exchange''', was a privately-owned stock exchange founded on 13 June 2021 by Onyx Industries. == History == The Onyx Exchange was founded on 13 June 2021 by Onyx Industries and was run by former Treasurer _Zab_. The first companies listed on the exchange included Onyx Industries, Costco, Wallgreens, ENB Industries, Emerald Co. and Icarus Inc. The launch was criticised by some as _Zab_'s..."

2026-08-11T09:24:58Z

Created page with "The '''Onyx Exchange''', sometimes referred to as '''the Exchange''', was a privately-owned stock exchange founded on 13 June 2021 by Onyx Industries. == History == The Onyx Exchange was founded on 13 June 2021 by Onyx Industries and was run by former Treasurer _Zab_. The first companies listed on the exchange included Onyx Industries, Costco, Wallgreens, ENB Industries, Emerald Co. and Icarus Inc. The launch was criticised by some as _Zab_'s..."

New page

The '''Onyx Exchange''', sometimes referred to as '''the Exchange''', was a privately-owned [[Stock Exchange|stock exchange]] founded on 13 June 2021 by [[Onyx Industries]].

== History ==
The Onyx Exchange was founded on 13 June 2021 by Onyx Industries and was run by former [[Treasurer]] _Zab_. The first companies listed on the exchange included Onyx Industries, Costco, Wallgreens, ENB Industries, Emerald Co. and Icarus Inc. The launch was criticised by some as _Zab_'s role as former treasurer led to the shutdown of the [[DEC Stock Exchange]].<ref>{{Cite news|url=https://discord.com/channels/673612908868927498/754622580777812130/858116651387453461|title=Private Stock Exchanges|newspaper=Democracy Daily|publication_date=26 June 2021}}</ref> Judge [[Wuutie]] served as Chief Financial Officer.<ref name=":0">{{Cite news|url=https://discord.com/channels/673612908868927498/754622580777812130/910351119782379540|title=Redmont's Cryptocurrency Rise|newspaper=The Redmont Times|publication_date=17 November 2021}}</ref>

By 11 July, the market value of the Onyx Exchange had reached $6.6 million by mid-July 2021, also listing companies like the Chip Company, Cubex and Royalty Ventures.<ref>{{Cite news|url=https://discord.com/channels/673612908868927498/754622580777812130/863860335068184626|title=Super Market|newspaper=The Daily Chip|publication_date=11 July 2021}}</ref><ref>{{Cite news|url=https://discord.com/channels/673612908868927498/754622580777812130/868551362923880499|title=Saturday Stock Update|newspaper=Democracy Daily|publication_date=24 July 2021}}</ref> By September the Exchange also listed Indica Estates, Mooshroom and Stamba. The [[cryptocurrency]] PandaCoin, created by Onyx Industries, was also listed on the Exchange.<ref>{{Cite news|url=https://discord.com/channels/673612908868927498/754622580777812130/892501973675409439|title=September Stock Update|newspaper=Democracy Daily|publication_date=28 September 2021}}</ref>

By November the Exchange had a market cap of over $21 million,<ref>{{Cite news|url=https://discord.com/channels/673612908868927498/754622580777812130/907653524014387251|title=Crown Person of the Month|newspaper=Crown|publication_date=9 November 2021}}</ref> and saw the addition of Apex Butchery.<ref>{{Cite news|url=https://discord.com/channels/673612908868927498/754622580777812130/907774089656168478|title=Acquisitions and New Additions: Onyx Exchange|newspaper=Democracy Daily|publication_date=10 November 2021}}</ref> More cryptocurrencies were listed, including ShibaCoin, Fighters Coin, StambaX, DogeCoin, Saturn Coin, HCB Coin and [[Binance]] Coin.<ref name=":0" /><ref>{{Cite news|url=https://discord.com/channels/673612908868927498/754622580777812130/910864813557686333|title=5 New Coins on the Market|newspaper=Binance|publication_date=18 November 2021|author=Wuutie}}</ref>

On 5 January 2022, the Exchange attracted concern when a donations channel was opened, asking clients for funding. Its new owner and CEO,<ref name=":1">{{Cite news|url=https://discord.com/channels/673612908868927498/754622580777812130/932124666456342581|title=A Brighter future?|newspaper=The Daily Chip|publication_date=16 January 2022}}</ref> Wuutie, announced that the Exchange was "struggling", asking the government for money and compiling a financial report, adding that "it's not looking good anyways". Wuutie stated that the Exchange had been "[making] big losses in 6 months", and that they would be cutting back on wages and staff.<ref>{{Cite news|url=https://discord.com/channels/673612908868927498/754622580777812130/928399116344647720|title=Onyx Exchange Instability|newspaper=Democracy Daily|author=xeu100|publication_date=5 January 2022}}</ref>

The next day, Secretary [[thritystone]] of the [[Department of Education and Commerce]] (DEC) announced that the Onyx Exchange was "fine" and had full confidence in Wuutie's abilities to run it, noting that it had experienced a "temporary liquidity problem" attributed to clients making an "abnormally large withdrawal".<ref>{{Cite news|url=https://discord.com/channels/673612908868927498/686158870435201035/928707305493651456|title=The Onyx Exchange is Fine|newspaper=[[Department of Education and Commerce]]|author=[[thritystone]]|publication_date=6 January 2022}}</ref> They announced the creation of a higher reserve to mitigate such issues in the future.<ref>{{Cite news|url=https://discord.com/channels/673612908868927498/754622580777812130/929743323596464190|title=Exchange's Future|newspaper=Binance|publication_date=9 January 2022}}</ref> [[Nacholebraa]], the CEO of the Chip Corporation, cited the Exchange's policy of allowing a 2-month gap between financial reports as a source of misinformation for investors.<ref name=":1" />

On 15 January, thritystone published a declassified economic situation report announcing that the Exchange was in "significant debts", with only $56,000 in liquid assets, unable to pay when an investor requested the sudden return of $140,000 in credit. This led to the immediate liquidation of [[Black Rock]] shares and a "loan" from [[Binance]] to Onyx to cover the difference. thritystone attributed part of the problem to the valuation method used, calling it "not sound" as it relied on the opinion of the company owner as part of an equation. The report found the Exchange to be overvalued at $25 million, noting that faith in the institution was the only thing preventing a recession, and that a government bailout would be issued if another abnormal withdrawal request were made, possibly by purchasing Onyx shares.<ref>{{Cite web|url=https://discord.com/channels/673612908868927498/686158870435201035/931998430228791346|title=Economic Situation Report (de-classified)|publisher=[[Department of Education and Commerce]]|publication_date=15 January 2022|access_date=11 August 2026}}</ref> thritystone also barred members of Congress from trading on the stock market.<ref name=":2">{{Cite news|url=https://discord.com/channels/673612908868927498/754622580777812130/937227554379669544|title=DEC Faces Budget Controversy|newspaper=Democracy Daily|publication_date=30 January 2022}}</ref>

On 30 January, Democracy Daily reporter Partypig678 received an anonymous report detailing strife between the DEC and Congress, accusing the DEC Secretary of appropriating $200,000 in [[pruning tax]] funds to bail out the Exchange, side-stepping the budget process. The Speaker of the House told the newspaper that the trading suspension mandated on [[Congress]] members was soon reversed after a discussion with others in the Executive branch, as it was found to be "an overreaction to an issue that only a couple representatives at most were involved in".<ref name=":2" />

On 19 February, Wuutie began accepting Expressions of Interest for the CEO position.<ref>{{Cite news|url=https://discord.com/channels/673612908868927498/754622580777812130/947750242072281129|newspaper=The Daily Chip|title=The Race for CEO|publication_date=28 February 2022}}</ref> On 16 April, the Onyx Exchange had been crossed out on a list of companies that had not responded to the DEC's activity update.<ref>{{Cite web|url=https://discord.com/channels/673612908868927498/686158870435201035/964649085988667412|title=Nonresponsive Companies|publication_date=16 April 2022|access_date=11 August 2026|publisher=[[Department of Education and Commerce]]}}</ref>

== References ==
<references />
[[Category:2021 establishments]]
[[Category:Organisations]]