Last week, citing cash flow issues, trading app Robinhood temporarily halted users from buying popular stocks such as GameStop and AMC as Reddit-using day traders drove up trading volumes and prices hit record highs. Robinhood’s CEO wants consumers to know he’s just as upset about the stoppage as they are. Read more…
It would be logistically challenging for Chinese retail investors to organize a short-selling campaign, especially with the authorities watching. Source Author: David Pan
Jeff Bezos, the founder of online retail giant Amazon, announced today that he will step down as CEO later this year. Andy Jassy, who currently leads the corporation’s cloud computing subsidiary, Amazon Web Services (AWS), will take the reins in Q3. Under Jassy’s leadership, AWS introduced Amazon Managed Blockchain, a Read more…
DeFi is the fastest growing sector of the crypto market, with over $29 billion worth of value locked into smart contracts. It expands functionality and the use cases of cryptocurrencies. DeFi participants also save time and money in costs that are usually associated with traditional banking processes. The DeFi boom Read more…
The worst performer for the month was GAIN Capital which saw an overall fall of $10 million to $220.7 million. Source Author: Aziz Abdel-Qader
Jehan Chu, a Hong Kong-based crypto investor, says he purchased the top-level domain name “.nft” from the decentralized naming service Handshake. Namebase, a startup that streamlines the process of purchasing and selling domain names through Handshake, says it helped Chu buy the “.nft” top-level domain for $84,000, or about 680,000 Read more…
Global music distribution service Ditto has unveiled the latest addition to its service lineup for musicians with a blockchain-based financing platform named Opulous. Opulous Peer-to-Peer Lending Platform Serves as a Loan Pool Designed to Help Artists Ditto continues its efforts to improve the value chain for artists. Unlike other decentralized Read more…
Over the past year, institutional investment is what many believe drove Bitcoin’s price to reach new ATHs. Moreover, new research found that the asset’s price surges seem to be driven less by hype and have instead gained more trust, based on data from 2017. Among its many conclusions, ARK Invest Read more…
An investor who bought a Hashmask digital art collectible last week just resold it for more than a 100,000% profit. A “living digital art collectible” created by over 70 artists globally, Hashmasks are a collection of 16,384 unique digital portraits, according to the project’s website. Investors who buy specific Hashmasks Read more…
The members of the WallStreetBets Reddit group are getting a lesson in Newtonian physics at the moment: after wreaking havoc on the stock market, bringing several hedge funds to the brink of bankruptcy, and seeing their stock bets go up, it’s now all coming tumbling down. Most of the stocks Read more…
During the last year, Ethereum’s DeFi ecosystem has grown exponentially to form a multi Billion Dollar market. As Decentralized Finance expands, it becomes more and more relevant to have cross-chain connections that enable crypto assets to flow instantly and seamlessly across blockchain networks. These make it possible for DeFi platforms Read more…
Coinbase – one of the largest cryptocurrency exchanges in the United States – can’t seem to handle it whenever there’s a major crypto rally. The exchange always seems to undergo technical problems and sometimes even experiences temporary shutdowns. As traders witnessed late last week, the recent bitcoin surge was no Read more…
Ethereum has seen some strong momentum throughout the past few days, with buyers taking control as its price now hovers firmly above $1,400 The selling pressure in this price region has been dissipating with each visit, signaling that bulls could be on the cusp of sparking a breakout rally Where Read more…
Last week, Dogecoin exploded with an 800% intraday move. On-chain data looking closely at daily active addresses, however, suggests that the pump and dump was almost entirely driven by Robinhood buyers. Here’s what this means for both sides of the coin. Dogecoin Reignites Retail Interest in Crypto After 800% Rally Read more…
Notably, the updated list includes names of fraudulent clone platforms that have been posing as well-known, regulated brokers. Source Author: Aziz Abdel-Qader
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The first consequence following the GameStop fiasco could be right behind the corner for one of the key players involved – Robinhood. The company has reportedly paused its IPO plans, while Robinhood’s Co-Founder, Vlad Tenev, will likely appear in front of the US Congress to testify on his firm’s controversial Read more…
As the so-called ‘meme coin’ is actively making the headlines within the crypto sphere, a publicly-traded company is joining the dogecoin frenzy. Kronos Advanced Technology announced they’ll start accepting dogecoin as one of its payment methods. Kronos Also Accepts Other Cryptocurrencies Such as Bitcoin and Ether According to the announcement, Read more…
The price of Ether set a new all-time high today, as the token increased in price by over 14% in 24 hours to burst above the $1,500 barrier. As of publication, Ethereum was trading for around $1,531, according to data from Messari. Ethereum, the second-largest cryptocurrency by market cap after Read more…
The lawsuit between Ripple and the Securities and Exchange Commission (SEC) just keeps heating up. Ripple has now put in a request with the agency to view documents determining its decisions to allow both bitcoin and Ethereum to be exempt from securities statuses through what’s known as a “Freedom of Read more…
Cryptocurrency trader and influencer Tyler Swope says a little-known altcoin will soon become the favorite of the Reddit trading and investing community WallStreetBets. In a new video, Swope outlines to his 178,000 subscribers the qualities that he believes the altcoin should have to gain the favor of WallStreetBets. “Well, we Read more…
Mark Cuban—billionaire, Dallas Mavericks owner, and Shark Tank guy—stopped by the r/wallstreetbets subreddit for an AMA session on the future of mob-mentality retail trading. Topics included the trading app Robinhood’s decision to restrict Gamestop and AMC stock as prices soared (Cuban is anti!), the SEC (also anti!), and how to Read more…
Payments platform Cash App today announced that its clearing broker has stopped processing purchases of AMC Entertainment and Nokia stocks—two favorites of the WallStreetBets Reddit group—via its app. The app, developed by payments company Square, said in a Tuesday blog post that they didn’t agree with the decision and that Read more…
Robinhood customers can also buy up to 1250 shares and options contracts of AMC Entertainment. Source Author: Aziz Abdel-Qader
Singapore’s Digiassets Exchange Pte. Ltd. (SDAX) received ‘in-principle” approval from the country’s financial regulator, Monetary Authority of Singapore (MAS), to operate its digital asset exchange. Reports from a local news website, MarketsMedia, states leading financial authority, MAS has reached an agreement “in principle” with the country’s leading digital assets service Read more…
Nexo, a Cryptocurrency lending platform, announces its new exchange service that provides 75+ cryptocurrency trading pairs on its mobile application. The exchange comes with a “Smart Routing” system to minimize slippage cases and guarantee the best price swaps. In an announcement this Monday, leading regulated digital assets lender Nexo launched Read more…
Decentralized exchanges are cryptocurrency exchanges that don’t require a third party to govern it all. The clue’s in the name, after all: on a decentralized exchange, there is no single company maintaining the order books, custodying funds or calling the shots. (Hypothetically, in principle, and often with some major caveats). Read more…
Following the Wallstreetbets saga last week, a great number of the popular shares being fueled by social media have started to tank in value. Gamestop shares dropped over 60% on Tuesday, while AMC dropped more than 49% shaking investors who bought into these stocks to the core. Meanwhile, a number Read more…
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Crypto Broker AG has obtained a securities house license from Swiss financial regulator, the Swiss Financial Market Supervisory Authority (FINMA) that will allow the company to offer services to institutional investors — “a significant milestone (that) caps a successful previous year,” the broker said in a statement Monday. The firm Read more…