Regulating Cryptocurrency, Robinhood’s College Tour, New Tech Hub
Regulating Cryptocurrency: As the popularity of cryptocurrency grows, so does the call for regulation. The Economist reviews the chairman of the Securities and Exchange Commission Gary Gensler’s take on how to do just this. While it is exciting to see a new investment opportunity flourish, Gensler’s main goal is keeping the market steady. It is currently estimated that there are at least 50 policies under review to monitor the entire market of cryptocurrency. The only question is if he will have a large enough budget to make his policies become law.
Robinhood’s College Tour: Remember that time in your life when you were young and easily influenced? When your head was open to new ideas and concepts? Ah yes, in college. Well the trading app Robinhood remembers it as well. The Wall Street Journal covers Robinhood’s new college tour as they attempt to drive their current average user-age of 31 down even younger. While Robinhood’s mission is to make investing accessible to those who previously did not participate in trading markets, many are worried that by targeting this younger demographic they are doing more harm than good.
Finfluencers: Many young investors are turning to social media to learn about the do’s and don’ts of investing. Their teachers, or “finfluencers” are capturing the market that big investment firms could only dream of reaching. Bloomberg tells the story of several finfluencers who were able to grow their follower count by creating informational videos on finance. They are now being paid by investment platforms to talk about their products and are making more money than some Wall Street Bankers. While this new self-made career path may seem exciting, it is also worrisome. Tiktok has been cracking down on those giving out false information in an attempt to not mislead people into making poor financial decisions.
New Tech Hub: Tech has found a new home in Atlanta, Georgia. Morning Brew covers several tech acquisitions that have happened in the past week including MailChimp being purchased by Intuit. The city is bursting with genius computer science and engineer majors just waiting for the right opportunity. Well they may not have to wait much longer as multiple companies have just announced their plans for growth for their offices there including Microsoft and Apple.