Many retail traders, particularly Reddit traders on their Reddit forum wall street bets, started aggressively longing a stock called Gamestop. Still, many hedge funds were putting on the same energy while betting for the company to fail. The Redditors pumped the price of Gamestop so hard and so fast to the extent that it increased in value by hundreds of percent in the last couple of days that the hedge fund shorting Gamestop proved to be futile to the extent that one had to file for bankruptcy. The wall street elites got crushed by Redditors and memes.
So in response to this event, Td Ameritrade and Schwab came in, stating that they will restrict trading on Gamestop and a couple of other stocks like AMC. The wall street bets are looking into that even the CEO of Nasdaq is calling a halt to trading so that big investors have time to recalibrate their positions. It is right, though, because we can't have billion-dollar hedge funds that are trying to short a company into oblivion and then trading without a freaking stop-loss losing money.
The response to these solutions emphasizes why we desperately need decentralized finance solutions to take over centralized finance. Things like Uniswap are the future; the De2Fi is going to wreck the centralized market over the next decade or so, and this is very obvious.
Reddit has officially partnered with the Ethereum foundation. This all started last year when Reddit decided to implement a token sizes community rewards program using Ethereum based tokens.
Their incursion into the blockchain world sparked their curiosity, which led to a scaling competition, which has now led to the recent announcement of today. That Reddit will be working with the Ethereum Foundation to improve Ethereum scaling to work on the scaling solutions. This is excellent news.
Read it is one of the biggest social media platforms in the world with 430 million monthly users. It is a pretty big deal to see them partnering up with the Ethereum foundation.
The altcoin markets are still crazy returns for investors. There are a lot of low-risk options and also high-risk ones to invest in; it all depends on your level of risk tolerance. One of the low-risk ones that might interest you is the Marlin Flowment Campaign.
If you are staking in Polkadot, for example, this should interest you since this can get extra rewards paid out on top of the staking rewards you are already getting. It is just free money for doing something you are already doing, so if you were staking Polkadot, you can now same Polkadot and earn Marlin reward.
