WallStreetBets, the Reddit-based grassroots movement that achieved notoriety for short-squeezing hyper-leveraged financial firms, has launched a new blockchain-based application aimed at combating market manipulation in traditional finance. The group announced the creation of WallStreetBets Exchange Traded Portfolios, or ETPs, that can provide investors with broad exposure to various assets in a completely decentralized manner. The group explained: “WallStreetBets ETPs may serve as an alternative to kind of the market manipulation by opaque and politically connected banks and hedge funds.” The product is powered by a decentralized autonomous organization, or DAO, which means portfolio rebalancing is the sole domain of community …

With much of the market fixated on Bitcoin’s (BTC) sudden price correction over the weekend, retail interest in digital assets appears to be on the rise, according to the latest statistics from Reddit. The r/dogecoin community added 145,859 weekly subscribers, according to Subreddit Stats. The gains are hardly surprising, given Dogecoin’s (DOGE) dramatic rally over the past week. The meme-based cryptocurrency skyrocketed 400% during that period, bringing its yearly returns to an eye-watering 5,000%. DOGE’s parabolic rally moderated over the weekend, with social media sentiment data from The TIE and Cointelegraph indicating more pain in the short term. That’s because …

r/Wallstreetbets, a subreddit famous for organizing a pump for Dogecoin and the GameStop short squeeze, is enacting a crypto discussion ban after officially allowing the topic for a single day. Subreddit moderator u/bawse1 announced on Thursday that r/Wallstreetbets has now banned crypto discussions forever, following a Bloomberg article titled “WallStreetBets Bows to Crypto.” Just a day before, the same moderator officially announced that the subreddit will finally allow crypto discussion strictly limited to Bitcoin (BTC), Ether (ETH) and Dogecoin (DOGE). The new post reads: “Due to the article that was written [by] Bloomberg who somehow felt that ‘WallStreetBets Bows to …

Depending on where you stand on the GameStop saga, which saw organized retail traders extract $6 billion from Wall Street overnight, you may think someone should either take the matches away from Elon Musk, or give him more. The CEO and “Technoking” of Tesla was accused of pouring “jet fuel” on the GameStop short-squeeze at a critical moment by hedge fund manager David Einhorn, founder of Greenlight Capital, in a letter to investors published on Thursday. Einhorn said Musk and venture capitalist Chamath Palihapitiya were the real instigators behind the short-squeeze, claiming both had supplied “the real jet fuel” for …

The moderators of subreddit r/Wallstreetbets have announced they will allow crypto discussion in the subreddit from today. The retail trading group, famous for pumping traditional stocks such as GameStop (GME) and scaring hedge fund managers out of their shorts — which is soon to be a major movie — will limit discussion to three cryptocurrencies, Bitcoin (BTC), Ether (ETH) and Dogecoin (DOGE) in a single daily thread. A post this morning stated: “We’ve decided to allow for discussion about only BTC, ETH, and DOGE only. Inside of a daily Crypto discussion thread as to not burden everyone with crypto spam. …

Reddit’s r/Cryptocurrency community revived an interesting piece of Bitcoin (BTC) history on Sunday with a new thread reminiscing about the time that American software developer Gavin Andresen gave away 19,700 BTC. A thread started by u/GroundbreakingLack78 took the Reddit community all the way back to June 2010 when Andresen first launched the so-called Bitcoin faucet website. Using the domain “freebitcoins.appspot.com,” Andresen gave visitors the opportunity to earn 5 BTC per day just by solving a captcha, which is a program intended to distinguish human from machine input. User u/GroundbreakingLack78 explained: “To fuel the first faucet, Andresen loaded it with 1,100 …

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 to 3.5 million shares of GME stock via an at-the-market, or ATM, equity offering program. GameStop said that its total global sales increased nearly 11% for the nine-week period ending April 3, 2021. GameStop noted that its common stock will be offered through American multinational …

Despite Dogecoin under-performing this past week when compared to other leading crypto assets, DOGE’s community has been among the most active on Reddit. According to data compiled by Skew and tweeted by Messari researcher Mira Christanto, r/dogecoin has been the third-most active crypto group on Reddit this week, with 33,822 new comments posted in seven days. Friendly reminder for Redditers: r/Bitcoin is $BTC while r/btc is $BCH pic.twitter.com/skFwhFM2y0 — Mira Christanto (@asiahodl) March 31, 2021 Dogecoin is the second-most active group coalescing around a single crypto asset, ranking behind r/Bitcoin’s 48,757 comments last week. Unsurprisingly, the wide-ranging r/CryptoCurrency attracted the …

The CEO of U.S. crypto exchange Coinbase Brian Armstrong has apologized for poor customer support and revealed the company could integrate with DeFi protocols in a comprehensive Ask Me Anything session on Reddit. The Reddit AMA (Ask Me Anything) posted on March 17 had amassed over a thousand questions and responses from members of the social media platform. Company CEO Brian Armstrong and CFO Alessia Haas finally got around to responding to a few of them a week later on March 23. There was also a video that accompanied the AMA, which was a first for a company going public, …

Twitter users can now send Bitcoin (BTC) with a single tweet, after digital payments app Bottlepay launched its integrated Bitcoin social media feature. Transactions between Twitter users can now apparently take place using the simple tweet template “@bottlepay send 1,000 sats to @twitteruser.” The command can be executed from directly within the Twitter app, and the Bitcoin is transferred from one user to another automatically. Bottlepay describes itself as a global payments disruptor, and raised $15 million in a seed funding round towards the end of February. The Bottlepay app can also be used with other social media platforms, such …

A driver who held $5 in Bitcoin (BTC) as a tip for his pizza delivery services has reportedly resurfaced after seven years. According to a post from Redditor btcbible, the Bitcoiner ordered a pizza on Dec. 28, 2013 and gave the delivery driver two options for his tip: a $5 bill, or 0.0069 BTC on a paper wallet. The value was roughly the same at the time, given the price of the crypto asset was $774. However, the driver reportedly contacted btcbible this week for help on getting the funds into a hot wallet. With Bitcoin’s recent rise to a …

United States lawmakers are set to grill Robinhood CEO Vlad Tenev over the GameStop trading frenzy at a Congressional hearing later today. In his prepared remarks, Robinhood CEO appeared to place responsibility for the platform’s stock trading suspensions on the U.S. Securities and Exchange Commission. Tenev said that the company blocked trading to meet “regulatory deposit requirements” defined by the SEC. The exec specifically criticized an SEC rule that requires equities transactions to clear over two days: “It takes several days for the clearinghouse to process the transaction [...] This is known as “T+2” settlement, denoting the trade date plus …