Roaring Kitty Faces Market Manipulation Claims; Bitcoin ETFs Boom; Qatar Launches CBDC Trials
Summary:
Prominent GameStop short seller Citron Research accuses investor "Roaring Kitty" of market manipulation following his disclosure of a $300 million GME stake. In the meantime, Bitcoin ETFs by BlackRock and Fidelity make up a significant share of the firms' total ETF inflows for 2024, despite Vanguard leading the market overall. Moreover, the Qatar Central Bank advances into the first stages of its Central Bank Digital Currency project, focusing on enhancing liquidity and transactions with securities across local and international banks.
Prominent GameStop short seller, Citron Research, has alleged that "Roaring Kitty" (real name Keith Gill) is guilty of market manipulation. Fidelity and BlackRock's Bitcoin ETFs represent a notable percentage of this year's total inflows for each firm. Furthermore, the central bank of Qatar has initiated the first stage of its Central Bank Digital Currency (CBDC) project.
Citron Research has accused Gill, better known as "Roaring Kitty", of manipulating the market, following his public announcement of holding $300 million worth of GameStop (GME) stock. The firm, notorious for its own short-selling of GameStop, has accused Gill of using his sizeable holdings and considerable near-term option position to manipulate the market, citing a lack of substantial justification for his strategy. Following the revelation by Gill that his investment in GME has reached over $300 million, Citron has speculated that he may become the first GameStop billionaire, if the stock price keeps rising.
The Bitcoin ETFs of BlackRock and Fidelity have accrued a significant percentage of the total ETF inflows for the year, with 26% going to BlackRock and 56% to Fidelity, according to data cited by Bloomberg ETF analyst Eric Balchunas. Despite this, Vanguard, which does not operate any Bitcoin ETFs, has led the market in 2024 with a total of $102.8 billion in inflows, surpassing BlackRock's $65.1 billion.
The Central Bank of Qatar (QCB) has laid the groundwork for its inaugural CBDC project, which is intended to facilitate large-scale settlements between local and international banks. The project, which will incorporate both distributed ledger technology and artificial intelligence, will primarily focus on fortifying the liquidity and transactions associated with securities. The QCB plans to carry out this project over a five-month period and has been investigating the potential benefits and drawbacks of a CBDC since March 2022.
Published At
6/4/2024 3:30:44 PM
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