Reddit | Common News Update

Jan282021 by adminNo Comments

Reddit forum’s role in Gamestop shares frenzy faces regulatory probe

Business

US financial market regulators are to review the extraordinary rallies in the shares of struggling gaming retailer Gamestop, part-driven by participants of an investor forum on Reddit.The Securities and Exchange Commission said it was working with fellow regulators to "assess the situation and review the activities of regulated entities, financial intermediaries, and other market participants." The action reflects deep and widespread concern over the functioning of financial markets.Gamestop shares were up by 1,744% in the year to date - with a market value above $ 20bn - at the close of trading on Wednesday night. Image: The share frenzy has attracted White House scrutiny as treasury secretary Janet Yellen monitors developments The v...

Trump suspended from Twitch as Reddit shuts down supporters’ forum

Technology

Donald Trump has been suspended from livestreaming platform Twitch for "hateful conduct" and Reddit has shut down a forum for the president's supporters.Twitch, which is owned by Amazon, said it had temporarily banned the president's channel because it violated its hateful conduct policy. "Hateful conduct is not allowed on Twitch," a spokeswoman said."In line with our policies, President Trump's channel has been issued a temporary suspension from Twitch for comments made on stream, and the offending content has been removed." Image: Reddit co-founder Steve Huffman (L) said the Trump supporters' page violated its policy of not promoting hate She said one of the streams was a rebroadcast of a 2016 Trump rally in which the president said...

Reddit co-founder resigns and calls for his job to be given to black candidate

Technology

A co-founder of Reddit has resigned from his position and said his spot should be filled by a black candidate.Alexis Ohanian, who started the discussion website with Steve Huffman and Aaron Swartz in 2005, said he stepped down from his role as he felt it was the right thing to do for "myself, my country and my family". Ohanian, who is married to tennis legend Serena Williams, said he wanted to be able to tell the couple's two-year-old daughter in the future what he did to show support to the black community in the US.It comes as the protests in response to the death of George Floyd, an unarmed black man who died at the hands of US police officers in Minnesota, entered their tenth day.In a video posted on his Twitter account, Ohanian, 37, said: "I co-founded @reddit 15 years ago to help ...