US Congress Plans Hearings on GameStop Market Pumps
While Congress is planning multiple hearings, it's less clear what financial regulators might do.
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Just this past Tuesday, the United States Congress held three simultaneous hearings regarding the uses of crypto and its potential use in existing financial institutions. Though recently the Biden Administration has scrutinized the use of digital assets on the basis of tax evasion, Bitcoin steadily climbs with the hopes of a close above $40K. Led […]
Video game retailer GameStop has entered the non-fungible token (NFT) space. According to the Wall Street Journal, it is forming a division to develop a marketplace for non-fungible tokens and form cryptocurrency partnerships with crypto firms. GameStop To Build NFT Marketplace According to the WSJ story, the company has employed more than 20 individuals to oversee the unit, which is developing an online hub for buying, selling, and trading NFTs of virtual videogame artifacts like avatar clothing and weaponry. GameStop launched its NFT website last year and has been inviting creators to....
At the end of May, crypto advocates discovered a website created by the video game retailer Gamestop. The web portal disclosed that Gamestop was entering the world of blockchain tech and non-fungible token (NFT) assets. Gamestop’s NFT web portal has recently been updated and is requesting creators to sign up for the platform. Gamestop NFT Website Hints at Upcoming Marketplace Launch Gamestop (Nasdaq: GME) has had an interesting year, to say the least. It all started at the start of the year in January, when the Reddit forum r/wallstreetbets sparked a Gamestop shares trading war....
A blockchain-friendly member of Congress faced confirmation hearings on Capitol Hill yesterday in his bid to join the Trump administration. Representative Mick Mulvaney, a Republican from South Carolina, was nominated in December by then-President-elect Donald Trump to head up the Office of Management and Budget, which would make him the White House’s point person on budgetary matters. According to the Washington Post, Mulvaney ran into a hiccup or two during his hearings. The conservative US Representative drew fire from Democrats because of a failure to pay $15,000 in federal taxes....
Both the Senate and the House are looking into Wall Street's market practices, especially short selling. Legislators are responding fast to the madness surrounding Gamestop and AMC shares and the hedge funds selling them short.On Jan. 28, Chairwoman of the House Financial Services Committee Maxine Waters announced a coming hearing on short-selling. Sherrod Brown, the incoming chairman of the Senate Banking Committee, similarly called for a re-examination of stock market rules. Short selling has been the subject of widespread controversy as the past two days have seen wild volatility for....