Look, I'm a tradfi guy who dabbles in crypto. Not an expert by any means. So, I'm coming here so that you may help me understand this strange, and to be frank, disturbing, phenomenon. Here is my story:
This morning after I made my coffee I went to check Friday's close and the general state of the market.
As always, I typed "SPX" into the search bar. But something that I've never seen before, nor ever wanted to see, populated the screen.
SPX6900.
My first thought: what the hell? There are only 500 companies in the S&P500, not 6900! Certainly, something must be amiss. This must be a display bug.
But I investigated further. Turns out, Yahoo Finance is promoting a crypto scheme. I AM FED UP. When is enough, enough? Now crypto is trying to discredit trusted names like the S&P? Surely, they belong in jail, no? Financial namespace hijacking?
Can someone explain what this is all about, why they are allowed to do it, why people are pushing this, and why I am being recommended it???
https://finance.yahoo.com/quote/SPX28081-USD?p=SPX28081-USD&.tsrc=fin-srch
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