DOGE “to the moon” as Robinhood faces more scrutiny

DOGE “to the moon” as Robinhood faces more scrutiny

After yet another phenomenal rally surging 114% in the last 24 hours, Dogecoin (DOGE) hit an all-time high of $0.29. With DOGE valuations soaring to $34 billion, the coin also makes an entry to the top-ten list as the eighth largest cryptocurrency leaving. Litecoin (LTC), Uniswap (UNI), and Chainlink (LINK) are trailing once again.

There seems no doubt that DOGE’s final run was fueled by the Tesla’s Master of Coin, Elon Musk. Just 24 hours ago he sent out a tweet to his 50.9 million followers. captioned “Doge Barking at the Moon.” In crypto terms, “moon” refers to a rapidly rising price.

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Again, amidst what seems another trading frenzy, Robinhood finds itself in the centre of a controversy. Rumours have started to go around on social media that Robinhood has been restricting trading of Dogecoin (DOGE) on its platform. Earlier this year in January it had stopped trading of GameStop (NSE: GME).

Though according to Robinhood, in an attempt to clarify the matter on Twitter, this is not the case.

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With Robinhood’s January restrictions still fresh in memories, rumours  appeared on social media when Dogecoin (DOGE) investors suddenly were unable to cash out from their Robinhood trading accounts. This led to some serious outrages among investors who were willing to book their profits after DOGE had surged more than 250% in just over three days.

 

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Apparently the trading platform faced some technical difficulties for its crypto trading facilities.

Serious scrutiny

Robinhood has faced some serious scrutiny from its users and regulators recently over issues of its trading platform underperforming especially during the peak market moments. Earlier this year, Robinhood had blocked purchases for GameStop, AMC, and other stocks after a massive frenzy from Reddit group WallStreetBets, who take on huge hedge giants.

Consequently, Robinhood is now facing multiple class-action lawsuits from its users and are currently under federal investigation. Ironically, WallStreetBets  have opened a new thread where its million plus community can now discuss Bitcoin, Ethereum and Dogecoin. The group seems to be Robinhood’s nemeses.

Issues seem resolved

Just thirty minutes ago Robinhood announced that issues seem to have been partially resolved.

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The post DOGE “to the moon” as Robinhood faces more scrutiny appeared first on iGaming.


Source: igaming