SEC takes action against two meme stock wash traders
The SEC asserts that the defendants unlawfully gleaned more than $700,000 through a wash-trading scheme that targeted exchanges offering market maker rebates. Go to Source Powered by WPeMatico
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Wallstreetbets Founder Jaime Rogozinski and Wsbdapp Project Launch 15,000 Generative NFTs
On September 22, the team behind the Wallstreetbets defi application called Wsbdapp announced the launch of a non-fungible token (NFT) collection featuring 15,000 generative NFTs. According to the team, the NFTs provide utility like VIP access to special metaverse events and yield farming boosts. Wsbdapp Project Launches NFT Collection During the first week of September, … Read more
Newly Launched Wallstreetbets Defi App Aims to ‘Take Over Traditional Financial Markets’
At the beginning of 2021, a trend ignited by the creators of the Reddit forum r/wallstreetbets caused the whole world to focus on retail traders in the stock market purchasing so-called dead stocks like AMC, GME, and others. The hype behind the Wallstreetbets group has fizzled in the last few months, but a group that … Read more
Explaining the GME Short Squeeze
If you are in the habit of keeping your eye on the stock market at all, then you will recall the extreme, and sudden, rise in GameStop stock prices in early 2021. On January 7, 2021, GameStop stock was selling at about $18 a share. The long-struggling, brick and mortar gaming store seemed to be … Read more
Hedge fund that shorted GameStop closes as $1.13B GME stock offer completes
GameStop has completed a stock offer worth nearly $1.13 billion to fund growth, while a hedge fund that incurred losses from shorting GME is closing down. Go to Source Powered by WPeMatico
Nifty News: GameStop’s NFT market, NBA star LaMelo ‘mints career’ on NFTs … and more
Gamestop may be working on its own NFT marketplace, while Rookie of the Year candidate LaMelo Ball is set to drop 500 Dynamic NFTs. Go to Source Powered by WPeMatico
Gamestop NFT Website Discovered With Hidden Easter Egg Retro Game
Following the infamous Wallstreetbets story a few months ago, the company Gamestop is doing much better than it did a year ago. Now a new website called nft.gamestop.com indicates that the firm is dipping its feet into blockchain technology via non-fungible tokens built with Ethereum. ‘Power to the Players’ The publicly listed company Gamestop (Nasdaq: … Read more
Fed Chair Jerome Powell Says Dogecoin and Gamestop Hype Highlights ‘Froth in Equity Markets’
Federal Reserve Chair, Jerome Powell, discussed a number of topics this week such as inflation and central bank digital currencies (CBDCs) following the multi-day Federal Open Market Committee (FOMC) meetings. The central bank’s lead executive was asked about feverish stocks like Gamestop shares and the crypto asset dogecoin. Powell said that the Federal Reserve aims … Read more
Watch out as r/Wallstreetbets finally allows crypto threads… within limits
Reddit group r/wallstreetbets will allow a limited amount of crypto discussion, as it seeks to accommodate members in the community without detracting from its stock market focus. Go to Source Powered by WPeMatico
Economist Says Bitcoin Isn’t Too Big to Fail — Warns BTC Can Only Establish Itself if Governments Allow It
Allianz’s chief economic advisor Mohamed El-Erian says that bitcoin is not too big to fail and that governments may intervene. While he believes that cryptocurrency will grow in popularity, the economist says “it takes away a lot from governments,” adding that this asset “can only establish itself if governments allow it to.” Economist Warns of … Read more