Robinhood

Trading apps usurp TikTok in popularity

Two trading apps have risen to the top of Apple’s App Store in recent days. Robinhood holds the number one position, with Coinbase in second, at time of publication on Friday. In third: popular social media platform TikTok. YouTube, Instagram and Snapchat hold the fourth, fifth and sixth positions respectively. One possible conclusion? Folks are now …

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Massachusetts regulator seeks to revoke Robinhood’s broker-dealer license

Massachusetts’ securities regulator is seeking to revoke the broker-dealer license of cryptocurrency-friendly stock trading app Robinhood in the state. William Galvin, the head of the state’s securities division, said in a new administrative complaint that Robinhood has “continued a pattern of aggressively inducing and enticing trading among its customers — including Massachusetts customers with little …

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GME drops 14% as GameStop announces plans to sell up to 3.5M shares

GameStop Corporation, an American gaming and consumer electronics retailer, has announced its plans to sell up to 3.5 million GME shares following the stock’s massive and controversial rally. The firm announced Monday that it has filed a prospectus supplement with the United States Securities and Exchange Commission, under which it may offer and sell up …

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Cryptocurrency and Stock Trading Platform Etoro Aims to Go Public Through a $10.4 Billion SPAC Deal

<div class=”featured_image_container”> </div> <strong>The online cryptocurrency and stock brokerage platform Etoro has announced the company is going public via a deal with a special purpose acquisition company called Fintech Acquisition Corp V. The Etoro merger is a $10.4 billion deal, backed by the banking entrepreneur and Fintech Acquisition Corp V chair Betsy Cohen.</strong> Etoro Enters …

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JPMorgan report endorses 1% allocation to Bitcoin as a hedge

Strategists at Wall Street banking giant JPMorgan have suggested that a one percent portfolio allocation to Bitcoin would serve as a hedge against fluctuations in traditional asset classes such as stocks, bonds, and commodities. A small percentage allocation was advised to mitigate the risk of any large downturns in the digital asset’s value. Bitcoin has …

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Congress is blaming Robinhood, not Reddit

Vlad Tenev, Robinhood’s CEO, very much occupied the hot seat in today’s hearing before the House Financial Services Committee over January’s market volatility.  None of the representatives seemed particularly interested in putting the screws to Reddit CEO Steve Huffman, and many seemed to give Keith Gill the same props the rest of us did. These …

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US Lawmakers Looking Into China’s Role in GameStop Pump: Report

U.S. lawmakers are set to question a trader named Keith Gill and the chief executives of Reddit and Robinhood about their roles in the GameStop frenzy at a congressional hearing later this week. But some have another concern: whether China is involved.  Several Republican lawmakers on the House Financial Services Committee plan to examine Reddit’s …

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Why We Should Take Dogecoin Seriously

Nothing says 2021 like dogecoin, a dog-themed cryptocurrency that has recently skyrocketed in value, thanks in part to the support of Elon Musk and other celebrities. For a time it was the 10th largest cryptocurrency. Dogecoin finished 2020 at less than half a penny per DOGE, according to CoinDesk’s dogecoin price index. It now trades …

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Spike in DeFi lending pushes Compound (COMP) price to a new high at $570

As Bitcoin and numerous altcoins surge toward new all-time highs, traders who are coin rich but cash poor are increasingly flocking to decentralized finance lending platforms where they can collatoralize their holdings to raise funds for new investments.  Compound is one of the leading DeFi lending platforms and over the past month its TVL and …

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Yellen convenes SEC, CFTC and Fed leaders on Robinhood question

The four horsemen of U.S. financial regulation will meet to discuss market manipulation concerns resulting from the headline-grabbing drama surrounding GameStop stock last week.  Per a Feb. 2 report from the Wall Street Journal, Treasury Secretary Janet Yellen is gathering the leadership of the Securities and Exchange Commission, the Commodity Futures Trading Commission, and the …

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