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Join the Securities Litigation and Enforcement Group on LinkedInCrypto Reddit Mobilizes After Being Pummeled by Bankruptcies – Bloomberg
A few months ago, Celsius Network LLC’s nearly 47,000-strong Reddit group was filled with talk about how much everyone was earning by lending their coins through the platform. After the company filed for bankruptcy, members began using the forum, among others, to fight for the return of their funds. Reddit, Telegram and Twitter helped drive […]
GameStop Surge Tests Scope of SEC’s Manipulation Rules – WSJ
“If they are all egging each other on using a social-media platform, they are effectively engaged in a crowdsourced pump-and-dump scheme,” said Daniel Hawke, a partner at Arnold & Porter Kaye Scholer LLP. The traders “are making no effort to conceal their apparent intent to manipulate the price of the stock,” added Mr. Hawke, a […]
GameStop Stock, Explained: How Reddit Traders Manipulated the Stock Market
The GameStop stock rally is the handiwork of r/WallStreetBets, a Reddit community where people share news, memes and personal anecdotes about playing the stock market. Here’s how the WallStreetBets group came to power, and how they’re wielding their collective capacity to troll the stock market—and make millions of dollars doing it. Source: GameStop Stock, Explained: […]