Money Stuff: The Podcast Bets Are Off: DFV, BUIDL, CFTC
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May 17, 2024 Katie and Matt dive into the resurgence of meme stocks, spotlighting the GameStop phenomenon and social media's role in market movements. They explore the innovative blending of blockchain and traditional finance with the introduction of a unique money market fund. The discussion segues into the complex world of event contracts and prediction markets, especially regarding elections, while also touching on the quirky regulations surrounding Oscar betting. Finally, they share insights on regulatory preferences in the crypto landscape.
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Roaring Kitty Returns
- Keith Gill, or "Roaring Kitty," reappeared on Twitter after a long hiatus, posting a cryptic image.
- This seemingly insignificant act caused GameStop's market cap to surge by billions.
Market Manipulation?
- Tweeting vague pictures, even if intended to manipulate markets, might not be illegal.
- This poses a challenge to traditional market manipulation regulations.
Moon Emoji Lawsuit
- Ryan Cohen tweeted a moon emoji, and got sued for fraud.
- A judge allowed the lawsuit, creating ambiguity around such expressions.