Was final week’s Reddit versus Wall Road stand-off actually the “starting of the top for centralized finance,” as Gemini founder Tyler Winklevoss described it? Or was it only a one-time occasion of people coming collectively to proper a perceived incorrect — with no long-term financial penalties?
As GameStop (NYSE:), a struggling videogame retailer, got here below assault by hedge-fund quick sellers, a coalition of people spearheaded by r/Wallstreetbets, a Reddit discussion board, jumped in to avoid wasting GameStop by shopping for its shares, driving its inventory worth from $20 to as excessive as $483 — and doing a little actual harm to quick merchants within the cut price.
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