Although seemingly coming from nowhere for a lot of, the themes behind the Reddit-fueled r/Wallstreetbets pump of GameStop (NYSE:) really feel acquainted. Watching it unfold, I attempted to determine simply why it had captured my curiosity to such a level, and, to me, it was a spillover into the standard markets of some pervasive themes driving crypto.
Regardless of some competitors within the narrative, I view the motivating drive — and by it, I imply the social media-fueled unfold of the message that drew sufficient widespread curiosity to have an effect available in the market — behind the GME pump as analogous with what, at one level, was an impetus behind (BTC). It’s a driver for (relying in your degree of cynicism) the crypto markets extra broadly and the decentralized finance motion — a need for the “democratization of finance.” Behind that motion is the view that finance and monetary merchandise ought to be open-sourced, accessible to all, versus hinging on whether or not you’re an accredited (learn: high-net-worth) or an institutional participant.
Sarah H. Brennan is counsel and chief of the digital property and disruptive applied sciences apply at Harter Secrest & Emery LLP. Sarah has a broad vary of expertise in company and transactional issues. She focuses totally on company and securities legislation, representing private and non-private firms, enterprise capital and personal fairness corporations, buyers, and shoppers in each stage of the company life cycle.
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