Yellen asked to discuss recent volatility and whether trading has been consistent with fair and efficient markets. (REUTERS)

Reddit commercial frenzy fades as Yellen summons agencies

Febin MathewFebruary 4, 21Gamestop, Janet Yellen, Reddit

A social media-driven trading frenzy cooled further on Wednesday when US Treasury Secretary Janet Yellen called a meeting of senior officials that could result in tighter market regulation for hedge funds, small investors and brokers. Mass buying by amateur traders over the past two weeks caused fierce price swings at companies that US fund managers had bet against, including video game retailer GameStop and movie theater operator AMC Entertainment. . GameStop’s US-listed shares, which hit $483 last week, fueled by posts on the popular Reddit WallStreetBets forum, fell this week…

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Dogecoin dives after rally, sparking outcry on Reddit

Nitin MisraFebruary 1, 21crypto, cryptocurrency, Gamestop, Reddit

The digital coin fell 46% in 24 hours to $0.02582 as of 4:35 p.m. in New York on Saturday, according to data from CoinMarketCap. It recovered to $0.03 on Sunday, though still less than half its high on Friday, when a seven-fold surge sent the coin over $0.07. Amid the rally, Robinhood temporarily suspended instant deposits for buying crypto on Friday, citing “extraordinary market conditions,” a spokesperson told CNBC. Users can still use funds already deposited on the platform to buy cryptos. Users of the Reddit feed SatoshiStreetBets – which…