finance🏷
Santa Clause Sued & Fined By European Union Over GDPR Breach
2022-11-23
Brussels, Belgium - Santa Clause, the globally-known ancient gift-giver, has been fined €100 trillion (~$103 trillion) by the European Data Protection Commission (DPC) over a "long-running string of persistent and historic data breaches". An EU spokesperson had this to say: "The case we are initiating today challenges Santa's use of a worldwide "Naughty or Nice" list as a prerequisite for children to receive Christmas gifts. Santa has long operated outside the law, collecting highly-sensitive, personally-identifiable information about millions and millions of children. Enough is enough. We're saying 'no no no' to the 'ho ho ho'" The EUDPC, which is the lead privacy regulator in the European… read more 🏃♀️
Bitcoin Moves to Proof-of-Steak
2021-05-24
Core engineers and leaders working in the Bitcoin community have reached an accord to transition to a "proof of steak" model for mining the cryptocurrency, sources say. The change comes after a massive unwinding that erased nearly $1 trillion across cryptocurrency markets last week. It's also thought to be in response to a common critique of Bitcoin and similar cryptocurrencies: massive energy inefficiency due to the intense energy needed for proof-of-work mining. We were able to get in touch with Satoshi Nakamoto, a cryptocurrency hobbyist, to help us better explain the change and what it means for markets: "Really what's happening here is that Elon Musk caught us red-handed. He's totally… read more 🏃♀️
GameStop To Offer Stock Trade-In Program
2021-01-28
(Grapevine, TX) - GameStop has been making headlines in and out of the financial markets over the past week after its stock price was sent soaring by retail traders. The stock was trading at the $15-$20 level as recently as late 2020, but has hit recent highs of a staggering $469. The stock event briefly became the largest component of the Russell 2000 index. The company has been relatively quiet, likely trying to watch things play out and to not to jinx their incredible good luck. But after a few days of insanity, GameStop announced that it would immediately offer a nationwide stock trade-in program. A spokesperson for the company had this to say when reached for comment: "In light of the… read more 🏃♀️
Robinhood to Re-brand as Sheriff of Nottingham Capital, LLC
2021-01-28
(Menlo Park, CA) - Robinhood has made headlines throughout the Covid-19 pandemic as the trading app that millions of retail traders turned to to invest their extra time and money. New investors became day-traders using Robinhood and congregated on a variety of online forums, the Reddit subreddit r/wallstreetbets being the most notable. Fortunes were made and lost more than a few times, usually with stunning levels of risk-taking and openness. Robinhood has made it more difficult or impossible to trade certain stocks after seeing a few days of extreme volatility in handful of stocks ($GME, $AMC, and others). They are also rolling out a complete rebrand away from the "Robinhood" brand to… read more 🏃♀️