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Congress plans to hold hearings on short sellers, digital trading platforms and WallStreetBets pumping GameStop stock 25-fold. The price of GameStop ($GME) stock nearly hit $500 per share on Thursday, after a week of meteoric rises instigated by users of the WallStreetBets community on Reddit and bolstered by other retail traders. These
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Three stories1. Federal Reserve Chair Jerome Powell said the U.S. central bank will keep its policies loose. The Fed will maintain its current $120 billion per month bond-buying program until “substantial further progress” is made in terms of inflation and employment.“I’m much more worried about falling short of a complete
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Bitcoin’s (BTC) price has recovered from Wednesday’s losses since the U.S. markets opened Thursday morning. However, traders and analysts are not sure whether the rebound is sustainable, with some telling CryptoX it was likely the result of GameStop’s stock drama. Source
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GameStop (GME) has baffled Wall Street with its recent move as the investors from the Reddit community behind the price pump have forced big hedge funds to square off their short positions.The Reddit community r/WallStreetBets behind the ongoing short squeeze of the GameStop stock (NYSE: GME) is just refusing to
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The Gamestop short squeeze – in Bitcoin parlance, “the squeezening” – is only the latest example of online memes crossing into the real world and having real world consequences.Those of us who have been on the internet for a little while will recall the glory days of 4Chan and the
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Dogecoin (DOGE) is up 80% in a day and trading volume has spiked more than 800% as the altcoin sees a publicity surge with a familiar source.DOGE/USD 1-day candle chart (Binance). Source: TradingviewDOGE to $1?Data from Cryptox Markets, CoinMarketCap and Tradingview showed a transformation taking place in the DOGE ecosystem overnight
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The success of the GameStop short squeeze in pumping the price above $370— and the reaction from centralized authorities and markets to it — has highlighted the need for decentralized finance, according to some in the crypto industry.The stock, which was trading at less than $20 per share earlier this
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Three storiesEY’s blockchain lead Paul Brody thinks decentralized finance (DeFi) could be coming to everyday consumers. The EY team usually focuses its attention on enterprise blockchain, but the red-hot fintech market, and its mirror image in DeFi, has caught Brody’s eye. According to his theory, platforms such as Robinhood, PayPal
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Bitcoin (BTC) was lower, though staying in its range over the past six days, between roughly $30,000 and $33,000. Cryptocurrency traders and analysts planned to keep an eye on an expected Federal Reserve announcement Wednesday at 2 p.m. in Washington (19:00 UTC), detailing the U.S. central bank’s latest monetary-policy plans as
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SkyBridge Capital’s Anthony Scaramucci said Wednesday that retail investor-led stock surges for video gaming firm GameStop suggest bitcoin will ultimately be a success.On Tuesday, a volatile trading session largely driven by a campaign by members of the Reddit forum r/WallStreetBets saw GameStop (NYSE: GME) jump 92.7%. Trading of the stock
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