The Weekly News Roundup: February 3rd 2021

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In this week’s roundup, we discussed the huge happenings in the space that created a buzz in the crypto community. From last month’s bullish sentiments about the major cryptocurrencies, we have now Elon Musk believing in the potential of Bitcoin as he claims that it’s on the verge of wider adoption. Elon also jumped into grill Robinhood CEO on Clubhouse. This is followed by the spike of the Dogecoin’s market price after the Wall Street Bets “Chairman” tweeted about it. This shows how the huge names in the industry create a great impact in bringing more people into the community. Moreover, Reddit, a popular social media community declared its partnership with Ethereum. The second-largest cryptocurrency by market cap has also reached its ATH with a price of $1,473.

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AOC Takes on Robinhood

With the recent news about the GameStop scandal, U.S. Congresswoman Alexandra Ocasio-Cortez and guests explored the conditions that led to the GameStop short squeeze. She discussed Robinhood’s decision to suspend the trading in GameStop — an indication that they are in favor of hedge funds. AOC now emphasized that now is the time where regulators should step in and examine whether fintech companies like Robinhood are “doing right by their customers”. Read more

Elon Musk Now Supports Bitcoin

After years of observing BTC, Tesla’s CEO Elon Musk, is now optimistic about Bitcoin’s potential and now seeing it develop into wider adoption. He also emphasized that BTC’s now getting broad acceptance of traditional finance. Read more

Reddit — Ethereum Partnership

Reddit, a popular social media platform, made its headlines as it declared its very first blockchain partnership with the Ethereum Foundation. The second-largest cryptocurrency by market cap, Ethereum, is now on its ATH reaching the price of $1,473. Reddit has also been in the news lately after the subreddit investors named WallStreetBets rapidly buy GameStop’s stocks which causes its market’s sudden price surge. Read more

DOGE’s Price Went for The Skies

The price for the popular meme coin, Dogecoin (DOGE), went flying. Few hours after Wall Street Bets “Chairman” tweeted about Dogecoin, it soared by about 85% in a matter of hours and reached an intraday high at around $0.0145. Read more

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