Popular creators on breakout social media platform TikTok are jumping on the stock market bandwagon, exposing millions of viewers to misleading financial advice, new analysis suggests.An investigation into more than 1,000 stock-related TikTok videos by crypto exchange Paxful found that 14% failed to offer any sort of disclaimer that might warn viewers of the risks. These videos had a combined 28.4 million views and 3.6 million likes.Much of the offending content advised followers to purchase specific assets, as opposed to a broader asset class or genre, and were often guilty of implying guaranteed profit or suggesting a specific purchase volume.Check out our list of the best stock trading apps out thereHere's our list of the best forex trading services aroundWe've built a list of the best crypto exchanges right nowMore than half (52%) of the TikTok accounts analyzed had published at least one “misleading” post, the vast majority (60%) of creators failed to include a … [Read more...] about TikTok influencers exposing millions to ‘misleading’ stock tips and financial advice
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What is Dogecoin? All you need to know about the meme cryptocurrency, explained
The value of meme cryptocurrency Dogecoin (DOGE) soared to new heights over the weekend, fuelled by social media posts from Tesla founder Elon Musk and rapper Snoop Dogg.The digital currency is currently priced at $0.077 per coin, down slightly from highs of $0.087, making it the 10th largest cryptocurrency in the world by market capitalization.Despite the fact Dogecoin was created as a joke, the altcoin has made gains of more than 1,250% since the turn of the year, outperforming both Bitcoin and Ether (the currency of the Ethereum network).Here's our list of the best crypto wallets out thereCheck out our list of the best stock trading apps availableHere's our list of the best forex trading services right nowWhat is Dogecoin?As per the official website, “Dogecoin is a decentralized, peer-to-peer digital currency that enables you to easily send money online”.It was created jointly by IBM developer Billy Markus and Adobe data scientist Jackson Palmer, who launched the … [Read more...] about What is Dogecoin? All you need to know about the meme cryptocurrency, explained
The king of r/WallStreetBets has been slapped with a class action lawsuit
The man credited with architecting the recent GameStop short squeeze and stock trading frenzy has been hit with a class action lawsuit. Better known by pseudonyms Roaring Kitty and DeepF***ingValue, redditor Keith Gill stands accused of tricking investors into purchasing overpriced stocks and violating securities law that protects against market manipulation. He is also said to have concealed his background in institutional finance. The lawsuit was filed by US resident Christian Iovin, who purchased GameStop stock options during the recent market frenzy, and names Massachusetts Mutual Life Insurance Co and subsidiary MML Investors Services LLC as co-defendants. Here's our list of the best forex trading services around Check out our list of the best accounting software right now We've built a list of the best crypto exchanges out there The suit alleges that MassMutual was responsible for monitoring Gill’s trading activities, as his employer until January … [Read more...] about The king of r/WallStreetBets has been slapped with a class action lawsuit
Bitcoin powers towards $50K as Tesla takes it mainstream
Bitcoin was fast approaching the $50,000 mark on Tuesday as the afterglow of Elon Musk-led Tesla 's investment in the cryptocurrency had investors reckoning it may become a mainstream asset class for both corporations and money managers. The most popular cryptocurrency has gained 1,150% from March 2020 lows as institutional investors search for alternative wealth stores and retail traders ride the wave. It traded at a few hundred dollars only five years back. Monday, it leapt 20% after Tesla announced it had a $1.5 billion investment and that it would eventually take the cryptocurrency as payment for its cars. That was its largest daily rise in more than three years. The price of one bitcoin climbed to a peak of $48,216 -- almost enough to buy one of the best-selling Tesla vehicles, Tesla Model Y SUV. Rival cryptocurrency ethereum struck a record high of $1,784.85 on Tuesday. Musk , a well-known supporter of cryptocurrencies, foresees accepting the currency as a payment … [Read more...] about Bitcoin powers towards $50K as Tesla takes it mainstream