The story surrounding Robinhood's decision to ban $GME trading isn't just another news story. The popular stock trading app not only stopped retail traders from making trades but also supposedly began selling their stocks without their consent.
The story surrounding Robinhood's decision to ban $GME trading isn't just another news story. The popular stock trading app not only stopped retail traders from making trades but also supposedly began selling their stocks without their consent. Now, more than ever, we need solutions like cryptocurrencies and decentralized exchanges (DEXs) to emerge and replace the world's centralized financial system.
People have been asking "when adoption?" about DEXs for years, and this is the moment in history that shows exactly why the future must be decentralized.
How Retail Traders Are Affected
Shutting down stocks like $GME and $AMC on Robinhood mainly affects retail traders, meanwhile, Wall Street hedge funds practically receive a free bail out opportunity.
The message is obvious - when the game is not going their way, centralized institutions can and will shut everything down and start again. The Robinhood/$GME shutdown isn't the first time something like this has happened, but it's definitely the most publicized and blatant example of how centralized institutions can abuse their power.
AtomicDEX represents a new era for the global financial system and should be on everyone's radar as an exit strategy from traditional finance. The Robinhood/$GME news will hopefully make it clear why Komodo Platform is building AtomicDEX. We believe that everyone should have equal access to the same financial market.
AtomicDEX is a non-custodial wallet and decentralized exchange rolled into one app. You hold all your coins and you are your own bank. Every part of AtomicDEX (order matching, trading, settlement, sending/receiving) is 100% decentralized. No one can block you from sending your own funds. AtomicDEX runs on atomic swap technology, so you can trade ETH, BTC, KMD, and assets from dozens of chains natively without having to use wrapped tokens.