Robinhood And GameStop Show We Need A New Financial System By Cointelegraph

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Robinhood and GameStop proved that we need a new financial system

King Midas is most remembered through the fable we tell our children that the king could turn everything he touched into gold. At first, it was a great idea for his greed to turn even food to gold, leaving him rich but unable to live. The Robinhood CEO and his board had King Midas’ impossible dilemma this week: deciding whether to side with their clients and allow them to make more than $ 15 billion in profit or stop trading and allow only the sale of GameStop (NYSE: ) to allow the money hungry. short to hedge your position at lower prices and avoid massive losses. Robinhood showed everyone that his favorite color is money, and his friends are the same people who make sure you hardly ever win on Wall Street.

Alex Mashinsky is one of the inventors of Voice Over Internet Protocol with a fundamental patent dating back to 1994 and is now working on the Money Over Internet Protocol technology. More than 35 patents have been granted to Alex related to exchanges, VOIP protocols, messaging and communication. As a serial entrepreneur and founder of seven New York City-based startups, Alex has raised more than $ 1 billion and has come out of more than $ 3 billion. Alex is the CEO and founder of The Celsius Network, a crypto-lending platform founded in 2017 that provides members with select services not available through traditional institutions.

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