Home Alt coins Wall Street Betts Founder Will Unite Stock & Cryptocurrency Traders

Wall Street Betts Founder Will Unite Stock & Cryptocurrency Traders

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Crypto News

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Wall Street Bets (WSB) is a thematic section of the social network Reddit, which united traders after the crisis of 2020 in order to implement the short-squeeze strategy in the stock market.

The community was pumping purchases into stocks actively sold by hedge funds. Typically, funds used uncovered leveraged sales. The Wall Street Bets pumping depleted the margin of hedge funds, which were forced to buy back traded shares at a higher price in order to get out of the position at a loss.

The success of the strategy brought WSB traders thousands of percent of profits, and their recommendations for buying shares hit the sections of all analysts in the world. However, on Reddit it was only possible to post a call to purchase, unlike the wsbdapp.com platform created.

Jaime Rogozinski announced the launch of ETP funds, where WSB participants will be able to “vote with the ruble” for a specific portfolio of shares. The collected funds in WSB tokens will be used to purchase stock assets, the list of which will be predetermined by the community.

DeFi platform wsbdapp.com will also pump individual shares purchased in exchange for tokens. In this case, their owners will receive dividends and the right to supply real securities at any time. The wsbdapp.com marketplace plans to operate 24/7, which will make it possible to enter a position when the stock exchanges are closed.

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