This past week was extraordinary for the markets. After novice investors caused GameStop (NYSE: GME) to surge, Robinhood blocked users from buying the stock, allowing them to only sell it. Then, after a joke cryptocurrency shot up, Robinhood took action again. On Friday, the investing platform restricted cryptocurrency trading after Dogecoin, a crypto based on an internet meme and popularized by Reddit users, soared. Currently, instant deposits to buy cryptocurrencies are blocked and users can buy them only with money already in their accounts. It is unclear when Robinhood will lift this restriction. |
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