New class action against Robinhood alleges oligopoly manipulation

The unfolding short-squeeze on GameStop stock to the detriment of major hedge funds “could not be allowed to continue.” Robinhood, the stock trading app formerly popular with millennials, is facing another class-action suit, following its recent temporary suspension of purchases of GameStop and other “meme-stocks” through its platform. The lawsuit, filed Jan. 29 in Houston, […]

Report: Ant Group to overhaul structure per agreement with China authorities

Several of Ant Group’s offerings including the blockchain division will reportedly become part of a financial holding company. Ant Group, the financial affiliate of China’s e-commerce giant Alibaba, has reportedly reached an agreement with Chinese regulators over the company’s status. According to a Feb. 3 report by Bloomberg, Chinese regulators have agreed on a restructuring […]

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