Cardano Founder Blasts Nasdaq CEO For Threatening WallStreetBets

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Last Updated on 23 March 2021 by CryptoTips.eu

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / [email protected]
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The crypto volatility has turned to stock markets after flashmobs started taking on hedge funds this week. The WallStreetBets saga of GameStop has by now been covered by all mass media so it’s time to take a look at the reactions in the cryptosphere.

None of the major players has been more outspoken than Cardano founder Charles Hoskinson, who blasted the Nasdaq CEO for threatening to shut down social media groups if they would band together against Wall Street companies in the future again.

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WallStreetBets versus hedge funds

CEO of the Nasdaq exchange, Adena Friedman, said in response to the WallStreetBets versus hedge funds saga that:

When we evaluate how we would manage through a situation where you see a significant run-up with a stock that is not based on news or fundamentals, we have technology that evaluates social media chatter, and if we see a significant rise in the chatter on social media channels and we also match that up against unusual trading activity – we will potentially halt that stock.

Ever since Melvin Capital had to get bailed out by colleague New York hedge funds to the tune of a few billion dollars, the Twitterati have joined with Reddit and are engaged in boosting several stock which are being heavily shorted.

In response, Wall Street has leaned on global media to get their message out that this is very unfair and should stop now.

The reaction in the cryptoverse has of course been one of sympathy for the youngsters bonding together on social media who are trying to outsmart the Wall Street titans.

Cardano founder Charles Hoskinson, who always stands up for the underdog, stated:

Wall Street – > we can’t handle real markets. Give us some time for the rigged players to catch up and recover. This is bad comedy.

Most of his followers agreed and Charles even tried to explain that this kind of action was quite normal in the world of crypto, saying:

You know I can’t help but chuckle at this whole gamestop thing. Hey Wall Street, that’s called Tuesday for us in cryptoland. Enjoy the volatility and return from orbit.

VictorJiang / Depositphotos.com