• robinhood profited dogecoin gamestop
    Alt coins,  Regulation

    Robinhood probably profited from traders ‘protesting with Dogecoin’

    The exchange apparently became the world’s top Dogecoin holder thanks to its users investing in the coin

    When Robinhood temporarily barred its retail customers from buying GameStop stocks, purportedly as a reaction to reddit’s r/WallStreetBets community buying it in an attempt to squeeze out the major hedge funds shorting the video game retailer’s stock, many decided that they would protest by buying Dogecoin instead. However, the plan may have backfired in a big way, according to blockchain analytics firm Elliptic’s chief scientist and co-founder, Tom Robinson.

  • markets report bitcoin price
    Bitcoin,  Markets Report

    Markets Report: Bitcoin simmers as Hodlers look for crypto to ‘Gamespot’

    A “boring” day’s trading leads to calls for newly-minted Reddit investors to put stock proceeds into BTC

    Bitcoin took a back seat as commentators continued to focus on developments with U.S. stocks GameStop ($GME), AMC ($AMC) and others. As Modern Consensus reported, $GME shot onto the mainstream radar after a Reddit subreddit, r/Wallstreetbets, collectively boosted its price by 1,700% in just over two weeks. Bitcoin proponents were hoping that traders would use their gains to fuel a fresh rise in BTC/USD.

  • Reddit blockchain developers help
    Commentary,  Ethereum

    Reddit asks blockchain developers for help—but is it too big an ask?

    The social network wants to hear from scaling projects for its crypto Community Points project that are cheap, fast, and able to handle 400 million-plus users. Oh, and there’s no prize for the successful developers

    Reddit began experimenting with a crypto-based points system to much fanfare in April. But now, as the social network has realized that there’s a major stumbling block if it wants to roll the feature out to all 430 million of its monthly users: Ethereum has scalability issues.

  • Reddit crypto-based rewards
    Ethereum

    ‘This is adoption’—Reddit rolls out crypto-based rewards system

    The Community Points program pilot will reward frequent and popular posters in two subreddit forums with Ethereum-based tokens usable on the site. If successful, it could put a cryptocurrency wallet in 430 million Redditors’ hands

    Reddit has officially unveiled Community Points—a crypto-based rewards system that will allow users to build their reputations and accrue ERC-20 tokens on the Ethereum blockchain. The social network said contributors will be able to earn points whenever they submit quality posts or make meaningful comments that drive conversations forward.