King Midas is best known for the story we tell our children, that the king can turn everything he touches into gold. It was a good idea at first that his greed even turned food into gold, making him rich but unable to live.

This week, the CEO and board of Robinhood faced an insoluble King Midas dilemma: Decide if you want to support your clients and let them make over $ 15 billion in profits, or stop trading and just let GameStop Selling (GME) earn profitable short positions for cover your positions at low prices and avoid big losses. … Robinhood showed everyone that her favorite color is money, and that her friends are the same people who make sure you never win a deal on Wall Street.

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Greed will win again and again
As is common on Wall Street, greed wins. Not only were Robinhood, Interactive Brokers, Ameritrade, Charles Schwab, Citadel, and Point 72, but all the key economies were left out.

Robinhood has launched a platform and app that represent people and always work in the best interest of users. However, the golden rule of a startup is that if you don’t pay for a product, you are the manufacturer. The company’s real plan was to collect enough order flows and assets to charge market makers hundreds of millions of dollars in commissions associated with securities lending and order flows. Wall Street professionals call retail investors “plankton” because they are what hedge funds and institutions feed on, offering obscene profits and rewards to their employees and shareholders.

How will 136% of the shares be sold in 2021? Who will allow such things to exist and why will no one be held accountable? While everyone is focused on making sure the Reddit gang can buy from GME, no one is looking at the root cause of the GME problem: Brokers and hedge funds are working together to use the sale of cards to destroy net profit companies.

When there was a slight delay for GameStop, we figured out who Robinhood’s biggest customer really is: Citadel & Point72 (two of Wall Street’s most popular hedge fund managers) who pay Robinhood over $ 300 million in order flow and stock loan commissions annually … It’s hard to believe that Robinhood is back in her community when he always looks over his shoulder.

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Cryptocurrency – a vibrant city above the breeding zone
Providing unlimited access to essential financial services can unleash the ingenious and dormant talents of our society. IQ is evenly distributed around the world, but access and opportunity are not. Achievement often depends on status and wealth, which means that the system cannot be surpassed. What is possible? We must seize the moment when traditional financial institutions are at risk to envision the waves of innovation that have taken place in blockchain technology.

From abstract short positions to lying about how much annual return you really should make from placing your assets with these institutions, it is time to offer real and effective financial freedom through financial tools and techniques that work in the best interests of users, not addicts. top.

There is a reason why some of the smartest, most innovative and community-minded leaders are adding Bitcoin (BTC) and Ether (ETH) to their portfolios and adding them to their Twitter profiles today. Protesting against what we saw this week because no matter how hard they try, hedge funds, fat cats, and tech brothers cannot convert bitcoins into dollars exclusively for their pockets because a decentralized society is bigger than them there is.

Source: CoinTelegraph