ASIC targets pump and dump Telegram groups
The Australian Securities and Investments Commission (ASIC) is going after pump and dump groups on Telegram. On Monday an account under the name “ASIC” posted a message in the “ASX Pump Organization” on Telegram to warn around 300 members of the group that “we’re monitoring this platform and we may be investigating you.”: “Coordinated pumping […]
SEC takes action against two meme stock wash traders
The U.S. Securities and Exchange Commission has filed a complaint against two Robinhood users over an alleged wash-trading-based arbitrage scheme that utilized meme stocks. According to a Sept. 27 complaint, defendants Suyun Gu and Yong Lee took advantage of differing trading fee schedules offered by different retail brokers and exchanges to extract arbitrage while wash-trading. […]
New funding round sees Reddit gain $4B in valuation since February
Popular social media platform Reddit has gained $4 billion in value since its last funding round earlier this year in February. Six months ago the firm raised $250 million in Series E funding at a valuation of $6 billion. In the latest move, Reddit announced a Series F funding round on Aug. 12 — which […]
Nifty News: GameStop’s NFT market, NBA star LaMelo ‘mints career’ on NFTs … and more
It appears that “r/wallstreetbets” favorite meme stock company GameStop is in the process of developing its own NFT marketplace. Oh wow, @GameStop is launching an NFT platform https://t.co/3lkqgJTiwS pic.twitter.com/3BT1Szo9qJ — Brad Michelson (@BradMichelson) May 25, 2021 While an official announcement hasn’t been made, the gaming giant appears to have launched a website named “nft.gamestop” — […]
Watch out as r/Wallstreetbets finally allows crypto threads… within limits
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, […]