GameStop short squeeze highlights the power of decentralization

GameStop short squeeze highlights the power of decentralization

What do the traders on r/WallStreetBets have in common with cryptocurrency traders? Both are using technological breakthroughs to skirt processes inherent in traditional financial systems. 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 month, was deemed by members of the r/WallStreetBets subreddit to be under attack by a hedge fund which....


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