Re-hypothecation ... leading to a situation where multiple claims exist on the same Bitcoin holdings.
effectivily dilluting the as-if supply with derivatives: leveraged gains for banks.
They are selling non-existant stuff (like with the big XMR price manipulation) -- we'd need a mechanism of price discovery which distinguishes between real and paper. Monero on exchanges has the same problem. Weren't we supposed to be delisted from this scam?