Cold War Tactics: The Stasi’s Involvement in a Video Game | Games

In 2019, researchers at the Berlin Computer Game Museum uncovered a remarkable find made from salvaged electronic gear for joysticks and plastic containers. The beige rectangular tupperware, containing wires, will display a functional version of Pon when connected to a TV.




Arcade Fire… A notable attraction from Cold Wargames in East Germany. Photo: Dora Csala/Alliiertenmuseum

Initially, they believed that these homemade devices were an isolated testament to creativity behind the iron curtain. However, earlier this year, they stumbled upon something else: seifendosen-pong (“Soapbox Pon”), accompanied by a national magazine called Funkamateur, featuring various DIY diagrams for Atari’s 1970s gaming hits.

This discovery contradicted the notion that the emergence of computer games was merely tolerated or heavily suppressed by socialist East Germany. Evidence arose suggesting that gaming received a degree of official backing from the regime’s notorious Secret Service.

A new collaborative exhibition from the Union Museum and the Computer Games Museum in Berlin aims to uncover the intrigue surrounding Cold War-era games from both sides of the iron curtain. This includes East Germany’s sole arcade cabinet, Polyplay, which visitors can experience. Featuring honey-colored wooden panels and vibrant signage, only 2,000 machines were produced. In the late ’80s, youth flocked to these cabinets in clubs and holiday retreats, enjoying games that were largely clones of Western originals.

However, Polyplay was developed “with assistance from national security,” explains Veit Lehmann of the Alliance Museum. Due to a lack of programming expertise, the manufacturer Veb Polytechnick turned to the Stasi, who provided personnel “with expertise and computing capabilities” to code games.

PAC – In place of Man, there was Hase und Wolf – a rabbit dodging a dog, while Namco’s infamous ghost from Pac-Man was replaced. Games included Hirschjagd (“Deer Hunt”), a reimagined version of the sci-fi shooter Robotron: 2084, and Schießbude, a carnival shooting game, along with titles like Schmetterling (butterfly collecting), memory puzzles, skiing games, and other racing contests.




Tame… Game featuring rabbits and wolves. Photo: Veb Polytechnik Karl-Marx-Stadt

For many in East Germany, Polyplay marked their first exposure to computing, “opening up an entirely different world,” states Regina Sewald of the University of Birmingham. “It was seen as a family-oriented machine.” Families would spend weekends enjoying leisure activities together. While perceived as innocent entertainment, it subtly encouraged technical skill development.

However, Polyplay eliminated themes of violence, contrasting with Western arcades that showcased tanks in combat scenarios and dragons targeting players propelled by jetpacks. The GDR aimed to present itself as a peaceful nation, viewing media law as a means to suppress any portrayal of violence. “The GDR’s approach to technology reflected a desire for a harmonious self-image, coupled with a fear of the unknown,” remarks Seiwald.

Despite the family-friendly concept of Polyplay, self-proclaimed “freaks” gathered at computer clubs to challenge the regime’s limits. East Germany identified technology as a critical economic focus by the late 1970s, but Western tech was often smuggled into the country as trade embargoes restricted access, with devices like the ZX Spectrum being disguised in car seats or hidden inside chocolate boxes for cross-border smuggling.




Long arms of the state… Displayed at coldwargames. Photo: Wikimedia Commons

State-run factories produced some of their own gaming devices, including the Bildschirmspiel 01 Pong clone and the Veb Robotron series of microcomputers, but accessibility was limited. High costs made it difficult for most citizens to obtain them.

As early enthusiasts began forming clubs at universities and youth centers across cities like Berlin, Dresden, and Leipzig, officials speculated whether this youthful engagement would help mitigate technical challenges. “They believed that if young people engaged with games and computers, it could lead to better outcomes,” notes Lehmann. Perhaps the regime hoped this interest would nurture a new generation skilled in microelectronics, ultimately developing a necessary homegrown industry.

A phrase often echoed among GDR officials was expressed by Martin Görlich, managing director of the Computer Games Museum: “Learning from the Soviet Union means learning how to win.” Thus, computing was embraced as mirroring Soviet dynamics, blending physical action with screen engagement in arcade games.




Eastern block…coldwargames. Photo: Dora Csala/Alliiertenmuseum

The Soviet Union also birthed Tetris, a dynamic puzzle game created by software engineer Alexey Pajitnov to test computer performance. Initially exchanged among engineers, it led to fierce competition for distribution rights involving Dutch game designer Henrogers and Kevin Maxwell, son of the disgraced media tycoon Robert Maxwell.

In East Germany, citizens often depended on bootleg versions to bypass restrictions and shortages. Fashion enthusiasts crafted their garments, musicians repurposed audio gear, and underground board games like a twist on Monopoly flourished in exchange for communist-themed titles.

This DIY ethos aligned with the state’s self-reliance policy, encouraging citizens to craft, build, and repair. Official publications such as Funkamateur and Jugend Und Technik advocated for “computer sports” and published programming guides. “The GDR was acutely aware of technological constraints,” affirms Sewald. “People became proactive in educating themselves and pushing the boundaries of available technology.”

For young enthusiasts, some clubs boasted advanced computing systems like the Commodore 64, far superior to state alternatives. Most members were young males, their primary interest often lying in gaming.

Some learned to program their own games on machines like the KC 85 from Veb Mikroelektronik, while others like René Meyer, who joined the Computer Club at the University of Leipzig at 16, explored this new digital realm.

“GDR’s home computers were compatible with various systems and cultivated a unique computing ecosystem in the East,” recalls Meyer, particularly one game called Bennion Geppy, which involved navigating dungeons while avoiding monsters and collecting keys.

Paradoxically, while the state seemed to endorse these groups, club members often found themselves under the close scrutiny of Stasi informants, and their computing activities were frequently viewed with suspicion. One Stasi report detailed the games circulating in Young Talent’s House, highlighting acceptable choices like Super Bowl and Samantha Fox Strip Poker, alongside more controversial titles reflecting violent themes.

As internal tensions within East German society escalated, Stasi grew increasingly paranoid about war-related themes in software, computer viruses, and anti-socialist messages. Their fears may have been exaggerated. Notably, in neighboring Czechoslovakia, underground game developers created titles like the Adventures of Indiana Jones, a text adventure where a fedora-clad hero could face peril from bloodthirsty authorities.

East Germany’s relationship with technology was complex. In 1984, West Germany penalized children for playing arcade games, viewing them as gambling hazards. Consequently, they imposed stringent age restrictions on violent games like Activision’s River Raid. This skepticism extended into the 21st century, with publishers altering titles to sidestep censorship, as seen in the German version of Call of Duty: Modern Warfare 2, where players faced penalties for actions during the controversial “No Russian” mission.

While East Germany advocated for decentralized computing, the state maintained strict control over communications, criminalizing home networking and hacking activities. In response, activists in West Germany founded the Chaos Computer Club, still active today, known for crafting DIY modems as a form of protest, referred to as Datenklo (“Dataloo”).

“The West has been very harsh on hackers and crackers,” observes Seiwald. “It surprised many to find that the GDR exhibited a degree of surprising tolerance.”

Source: www.theguardian.com

Why a Major Saudi-Led Contract Matters for EA, Regardless of Your Gaming Involvement

when Microsoft revealed plans to acquire Activision-Blizzard in 2022 for over $68 billion, the industry was stunned. This announcement echoed the recent significant shifts in the sector: prominent publishers known for iconic sports titles like Madden and EA Sports FC (formerly FIFA) have opted for a private acquisition often dubbed “the largest leveraged buyout in history.” This $55 billion deal is backed by a trio of investors resembling a final boss lineup on paper.

Introducing Player 1: Saudi Arabia’s Sovereign Wealth Fund. The Saudi royal family has made substantial investments in gaming over the years and leads an astute gaming group headed by Crown Prince Mohammed bin Salman, known for his controversial record with domestic issues and the assassination of journalist Jamal Khashoggi. Player 2: Affinity Partners, an investment firm led by Jared Kushner, the son-in-law of the current U.S. president. Player 3: Silver Lake, a notorious private equity firm, which owns a significant stake in game engine developer Unity. Stephen Totilo from Game File refers to the Affinity Partners logo as a mirror image, reminiscent of the Evil Corporation in the Assassin’s Creed series. It feels almost surreal.

You might be curious about Saudi Arabia’s extensive investment in gaming. They have heavily funded eSports and even launched the ESports World Cup in Riyadh. They’ve acquired the manufacturer of Monopoly GO and purchased shares in numerous gaming companies, including Pokémon GO and Nintendo. (Game file provides a thorough overview of Saudi capital in the gaming industry.) The motivation behind these investments parallels their funding of sports, media, and lately, comedy. It serves as a strategy for whitewashing perspectives, or in this instance, game-washing, showcasing the cultural clout of video games.

Mohammed bin Salman. Photo: Royal Saudi Court/Reuters

Regarding Affinity Partners and Silver Lake: There’s potential for profit. EA reported over $2 billion in profit last fiscal year, primarily from sports franchises. EA also owns The Sims and Battlefield, two franchises that could yield significant returns. Previously, EA was a more diversified publisher, with a rich portfolio including Dragon Age and Titanfall. However, under current CEO Andrew Wilson, their focus has shifted mainly to the most lucrative sports franchises.

Critics of this acquisition often highlight Saudi Arabia’s involvement. Thousands of developers and millions of gamers within EA feel unsettled (especially since The Sims has a significant LGBTQ+ following). Opinions among business journalists and analysts vary. Kotaku’s Ethan Gach discussed with several of them in this article. One notable quote from NYU’s Joost Van Dreunen states, “The center exhibits an irrational financial logic concerning power, fame, and the implications of Saudi Arabia’s role in American entertainment.”

Business analysts pointed out that the acquisition places EA under a staggering $20 billion in debt, as reported by Bloomberg. Questions arise about how the new EA ownership intends to manage this debt. Will there be more layoffs or budget cuts? Will they reduce profits from popular features like Ultimate Team Mode in EA Sports FC? Or might they abandon the flagging mobile gaming sector? For both players and EA employees, returning to normal business operations seems uncertain.

Electronic Arts is not the industry’s favorite publisher, and it doesn’t have the best reputation. However, it’s vital to remember the thousands of dedicated employees behind the scenes. Despite EA’s business practices that may frustrate gamers, it’s essential to consider the talents and projects of these people across the gaming industry. Even without oppressive ownership, such private equity takeovers often harm both employee morale and the industry’s overall health. Fans of FIFA, for instance, might reflect on the financial struggles of clubs like Manchester United post-acquisition, plagued by immense debt.

Nonetheless, one individual relishing this deal is CEO Andrew Wilson. “This moment embodies your creativity, innovation, and passion. Everything we’ve accomplished, and everything ahead, is for you,” he proclaimed in a public statement. “Our values and commitment to players and fans globally remain unchanged. We will maintain operational excellence and rigor, enabling team creativity, accelerating innovation, and pursuing transformative opportunities to secure EA’s leadership in the future of entertainment.”

Interestingly, Wilson holds tens of millions of EA shares, currently valued at £157 should the acquisition go through. Doesn’t that warm even the most cynical of hearts?

What to play

Yotei’s ghost. Photo: Undefined/Sony/Soccer Punch

It’s fascinating that two stunning, highly-priced historical fiction games set in Japan have launched within just six months of each other. Yet, here we are.

The Ghost of Yotei releases tomorrow, featuring a female warrior on a quest for revenge across the most breathtaking landscapes ever created in gaming, echoing the essence of Assassin’s Creed. I enjoyed Shadows earlier this year; its beauty and performance are undeniable. However, I find Yotei even more enthralling. It’s far more engaging without reliance on maps or magical visions for locating enemies, instead compelling players to follow the sounds of birds, foxes, and those in need. The minimalistic mechanics, like igniting campfires or crafting sumi-e art, delight. Combat feels exhilarating, embodying an old-school vibe similar to Soul Calibur during duels. I’m pleasantly surprised by how much I appreciate this game, considering Ghost of Tsushima felt less fresh five years ago. Our protagonist, Atsu, seems far less tormented than Ghost of Tsushima’s protagonist, Jin.

Available on: PlayStation 5
Estimated playtime:
Over 30 hours

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What to read

Promotional images from bullies. Photo: Rockstar Game
  • IGN Interview with Rockstar co-founder Dan Hauser, who recently appeared at LA Comic Con. He’s known for being elusive and shared that his favorite title is Red Dead Redemption 2, also expressing regret over not following through on the boarding school satire.

  • Insomniac Games’ Wolverine has finally revealed its gameplay trailer. Given how well Spider-Man was adapted, I’m optimistic about this release slated for next year. As a fan of Housemarque’s thrilling sci-fi title Returnal, I eagerly watched the follow-up footage for Saros, set for a March 2026 launch.

  • Rog Xbox Ally is a poorly named yet highly anticipated handheld Xbox-compatible device priced at £500/£800. Microsoft has confirmed it, placing it in competition with the Steam Deck.

  • In Nintendo news, US President Doug Bowser has announced his impending retirement. He will be succeeded by Devon Pritchard, who has served at Nintendo for 19 years. Rumor has it that she may change her name to Devonganon. Moreover, there’s an upcoming pop-up store of Japanese department stores set to open in London later this month, with fans gaining access in March.

What to click

Question block

Astro Playroom. Photo: Sony

This week, reader Kevin asks:

“At age 68, I’ve developed an interest in gaming. I purchased a PS5 Pro and am currently waiting for its arrival. Could you provide a guide on how to use the controller?”

Welcome to the world of gaming, Kevin! It’s fantastic to hear someone is taking the plunge into gaming, especially if it involves pressing buttons!

For mastering the PS5 controller, I highly recommend Astro’s Playroom. It’s a delightful and engaging experience featuring small robots living within PlayStation. This short yet enjoyable game serves as an excellent tutorial for the unique functionalities of the PS5 controller and has even assisted my two sons in navigating more complex controls. If you find it enjoyable, be sure to check out the full-length sequel, expected to be a contender for Game of the Year in 2024.

If you have a question for the “Question Block” or any comments about the newsletter, feel free to reply or reach out to us at butingbuttons@theguardian.com.

Source: www.theguardian.com

Experts Cite Mask’s “Doge” Involvement as a Key Disruption in Branding | Elon Musk

Scott Galloway, a prominent marketing professor in the US, described Elon Musk’s strategy of implementing severe work and spending reductions within the federal government on behalf of the Trump administration as “one of the greatest brand disruptions ever.”

During a recent episode of the popular Pivot Podcast, he mentioned that he argued that Trump’s billionaire business advisor alienated the customer base of Tesla, one of his key ventures, while partnering with a president uninterested in the types of vehicles his allies produce.

Galloway also pointed out a vote indicating that Tesla fell to No. 95 in 2021 from its previous position as the eighth most reputable brand.

“He alienates the wrong audience,” Galloway commented. “Three-quarters of Republicans will never consider purchasing an EV. He seems comfortable associating with people who aren’t interested in electric vehicles.”

He also cited statistics showing that Tesla’s sales reached 59% in France, 81% in Sweden, 74% in the Netherlands, 66% in Denmark, 50% in Switzerland, and 33% in Portugal.

Over the past few months, Musk has attempted to intervene in various political matters across Europe, including the German federal elections and the UK’s discussions regarding grooming gangs.

A report from Jato Dynamics, a provider of automotive industry insights, noted that Tesla’s Chinese rival, which is based in Austin, gained traction in the lucrative European EV market after previous competitors faced challenges.

“This was certainly one of the largest brand disruptions,” Galloway told his co-host, veteran tech journalist Kara Swisher. “Tesla was an outstanding brand.”

“He alienates his key demographics.”

The reductions in federal government operations and budget linked to Musk stemmed from his role in leading the Office of Government Efficiency (DOGE) during Trump’s second term, which commenced in January. Musk secured this position after his Super Political Action Committee contributed $200 million to Trump’s successful bid to reclaim the White House following his 2020 election loss.

Since then, opinion surveys have indicated significant disapproval of Musk’s efforts for Trump, revealing that many voters were dissatisfied with the approach taken by the businessman and DOGE towards federal employees.

By late April, Tesla had reported a 71% drop in profits. In a revenue call with Tesla investors, Musk announced he would step back from his role in DOGE in May.

Musk described his responsibilities as “primarily managing the financial aspects of order” in the government, predicting “a considerable decrease in time dedicated to DOGE.”

A nonpartisan research organization, Public Service Partnership, estimated that the $160 billion cuts credited to DOGE would ultimately amount to around $135 billion.

Source: www.theguardian.com

Tesla backers insist Musk should lessen involvement with Trump, according to 46,000 CyberThieves.

Tesla and Elon Musk are currently facing a “brand tornado crisis moment,” and the CEO of the electric car company is being urged to step down by Donald Trump.

A warning was issued stating that Tesla would be recalling 46,000 cybertrucks in the US on Thursday to address issues with external panels coming loose while driving.

This development comes as protesters announced plans for a major demonstration against EV manufacturers, including Tesla.

Tesla’s stock has seen a significant decline over the past month due to various concerns, including the influence of Musk’s ties to the Trump administration and his involvement in the DOGE (Government Efficiency Sector).

Financial analyst Dan Ives described Doge’s impact on Musk as damaging to his personal reputation and business.

Ives warned investors of a potential crisis facing Tesla and Musk, citing protests at Tesla showrooms and destruction of vehicles.

He emphasized the need for Musk to step back from his role in Doge and formally announce his resignation as Tesla’s CEO to prevent further damage to the company’s reputation.

Additionally, Ives called for a clear roadmap for new vehicle releases and the deployment of self-driving vehicles in June to reassure investors.

Protest groups like Tesla Takedown have organized “Action Day” protests against Tesla and Musk worldwide, condemning Musk’s alleged involvement in illegal activities.

In response, Musk denounced protesters and defended his actions against what he described as unjust attacks on Tesla.

The Tesla recall issued on Thursday addresses issues with the Can Rail panels detaching from vehicles, posing safety risks. Tesla will replace the affected parts for free.

According to the National Highway Traffic Safety Administration, detached panels can create road hazards and increase the likelihood of accidents.

Tesla has been requested to provide a comment on the issue.

Source: www.theguardian.com

MPs Call on Elon Musk to Testify about X’s Involvement in UK Summer Riots | Social Media Involvement

MPs in a parliamentary inquiry into the UK riots and the proliferation of false and harmful AI content are set to call on Elon Musk to testify about X’s role in spreading disinformation, as reported by The Guardian.

Additionally, senior executives from Meta and TikTok, the companies behind Facebook and Instagram, are expected to be summoned for questioning as part of the Commons Science and Technology Select Committee’s social media inquiry.

The first public hearing is scheduled for the new year, amidst concerns that current online safety laws in Britain are at risk of being outpaced by advancing technology and the politicization of platforms like X.

Images shared on Facebook and X were reportedly used to incite Islamophobic protests following the tragic deaths of three schoolgirls in Southport in August. The inquiry aims to investigate the impact of generative AI and examine Silicon Valley’s business models that facilitate the spread of misleading and potentially harmful content.

The Chairman of the Labour Party Select Committee, Chi Onwura, expressed interest in questioning Musk about his stance on freedom of expression and disinformation. Musk, the owner of X, has been critical of the UK government and was not invited to an international investment summit in September.

Former Labour Secretary Peter Mandelson has called for an end to Musk’s feud with the British government, emphasizing the importance of not overlooking Musk’s influence in the technological and commercial space.

Despite speculation, it remains uncertain whether Musk will testify in the UK, as he is reportedly gearing up for a senior role in President Trump’s White House. Amidst these developments, millions of X users are said to have migrated to a new platform called Bluesky, raising concerns about misinformation and the presence of previously banned users.

The investigation also aims to explore the connection between social media algorithms, generative AI, and the dissemination of false or harmful content. Additionally, the use of AI to complement search engines, such as Google, will be scrutinized in light of recent instances of false and racist claims propagated on online platforms.

In response to the spread of misinformation and incitement after the Southport killings, Ofcom, the UK’s communications regulator, has highlighted the need for social media companies to address activity that incites violence or promotes false behavior. New rules under the Online Safety Act will require companies to take action to prevent the spread of illegal content and minimize security risks.

Source: www.theguardian.com

Scientists create brain-controlled robot, with no involvement from Futurama

Among the many strange robot designs in the past, a new contender has emerged as the world’s first robot powered by a real human brain, making it more human-like than ever.

Researchers from Tianjin University and Southern University of Science and Technology have managed to control the robot’s movements, such as tracking, grasping, and obstacle avoidance, using what they call “mini-brains.”

These miniature brains are not taken from human bodies but rather grown in labs for research purposes and then integrated into robots.

The researchers have utilized living organisms to create “brains on a chip,” which provide some intelligence to the robot’s brain but require assistance for full functionality.

Through the integration of these chips, scientists can debug the brain, send signals externally, and control specific functions like grasping in robots.

Professor Min Dong, Vice President of Tianjin University, explains that this brain-computer interface on a chip combines ex vivo cultured brains with electrode chips to interact with the outside world through encoding, decoding, and stimulation feedback.


With the brain chip, robots can perform tasks like tracking targets, avoiding obstacles, and learning to move their arms using electrical signals fed by the chips.

While robots do not have a human appearance, their brains process information through electrical signals from the chips. Training in simulated environments is possible, but understanding the real world remains a complex challenge.

The brain chip, known as MetaBOC, was developed as an open-source project and has been used in various experiments, including one where Neanderthal DNA was used to create mini-brains for robot control.

The latest research on robot-brain interaction focuses on utilizing ball-shaped organoids to create a more complex neural network for the brain-on-a-chip to function effectively.

Additionally, artificial intelligence algorithms have been integrated to enhance the robot’s capabilities through its mini-brain.

Although the advancements are groundbreaking, there is still progress to be made, with the current brain inside the robot being a model while the actual brain tissue is kept separate for testing purposes.

Read more:

Source: www.sciencefocus.com

Students Implicated in Cyber Fraud After Police Discover Involvement in Massive Phishing Site

Police have uncovered a disturbing trend among university students, who are resorting to cyber fraud to boost their income. They have managed to infiltrate a large phishing site on the dark web that has defrauded tens of thousands of individuals.

The site, known as LabHost, has been operational since 2021 and serves as a hub for cyber fraud, enabling users to create realistic-looking websites mimicking reputable companies like major banks. It has ensnared 70,000 users globally, including 70,000 individuals in the UK.

Victims unknowingly provided sensitive information, which was then used to siphon money from their accounts. The perpetrators behind the site profited by selling this stolen data on the dark web to other fraudsters.

According to the Metropolitan Police, the primary victims fall within the 25-44 age bracket, with a significant portion of their activities carried out online.

Law enforcement authorities have apprehended one of the alleged masterminds behind the site, along with 36 other suspects detained in the UK and abroad. The arrests were made at various airports in Manchester, Luton, Essex, and London.

British police are facing mounting pressure to demonstrate their effectiveness in combating the rising tide of cyber fraud.

Despite the relatively small impact of dismantling this particular site, the police intend to dismantle additional cyber fraud operations to undermine the confidence of criminals who believe they can act with impunity.

While fraud and cybercrime present considerable challenges for law enforcement agencies, they often compete for resources with other policing priorities, such as safeguarding children and enhancing women’s safety.

LabHost managed to amass significant amounts of sensitive data, including 480,000 debit or credit card numbers and 64,000 PIN numbers, generating over £1 million in membership fees from 2,000 individuals who paid in cryptocurrency.

The company lured users with tutorial videos on committing crimes using the site and on utilizing new consumer products. It promised quick installation of software in five minutes and offered “customer service” in case of any issues.

DI Oliver Richter noted the shift in cyber fraud from requiring technical skills like coding to now being accessible to individuals ranging from late teens to late 20s, many of whom are college students.

He expressed concern that these users may not fully grasp the risks and consequences of their actions, assuming anonymity and ease of operation.

Following the dismantling of the site, 800 users received warnings that the police were aware of their activities.

Detective Inspector Helen Rance, head of the Metropolitan Police’s cybercrime unit, described the LabHost bust as a sophisticated operation targeting those who have commercialized fraudulent activities. She highlighted collaboration with 17 factions globally, both in the public and private sectors.

She emphasized the success of penetrating the service, identifying the perpetrators, and understanding the scale of their illicit operations.

Source: www.theguardian.com

Robinhood is expanding its involvement in the world of cryptocurrencies

Wants to attract “all demographics” of digital asset investors

Robin Hood is Having been around for over a decade, its foray into cryptocurrencies is not necessarily new. But the company is still trying to expand its efforts, even among groups that tend to leave the platform.

“I think cryptocurrencies have always been created by and for very technical people,” said Johan Kerblatt, general manager of cryptocurrencies at Robinhood. chain reaction podcast. “At the end of the day, I don’t think customers care too much about what the underlying protocol is when they use cryptocurrencies. What network are they using? They just want things to work. That’s what I’m hoping for.”

While that may be true for novice crypto investors, the app has successfully embraced that group by providing educational resources, but going forward it wants to focus on everyone.do Be aware of the underlying protocol. Robinhood users can do more technical things, such as sending money to crypto wallets, and use “advanced charts and autotypes where you can set things like stop losses,” Curblat said.

While the platform may not be as technologically advanced as crypto-focused platforms, Robinhood does research to understand what its customers want and what they’re missing.

Despite its growth plans, Robinhood appears to be shaky in its stance on digital assets. In June, the app opted to restrict trading and holding of certain cryptocurrencies for U.S. customers at a time when the U.S. government was cracking down on major industry exchanges such as Binance and Coinbase.That being said, the platform still has 14 cryptocurrencies and 1 stablecoinUSDC, which users will be able to buy and sell.

Source: techcrunch.com

Traditional Finance’s Increasing Involvement in Bitcoin Revealed – Blockchain News, Analysis, Interviews, Opportunities

Last week, Bitcoin (BTC) rose 5.9% to close at around $37,000 compared to the previous week’s closing price of $35,000. This week has seen solid price movements, with BTC seeing fluctuations with prices increasing continuously every day from Monday to Friday. The highest trading price was observed on Thursday, reaching nearly $38,000. After this peak, prices declined slightly and stabilized at around $37,000 from Friday through the weekend.

BTC dominance, which measures Bitcoin’s market capitalization relative to the overall digital asset market, fell for the second consecutive week, settling at around 52.3%. This corresponds to a decrease of 0.7% compared to the previous week and highlights the continued dispersion of liquidity among more speculative assets. This is characteristic of a phase in which investors express confidence in the market and engage in riskier trades.

Trading activity continues to soar, with cumulative daily volume on centralized exchanges reaching $31.4 billion, calculated on a seven-day moving average. This figure is the highest since the end of March and reaffirms that the recent uptrend is driven by strong trading activity.

A notable aspect is the heavy involvement of traditional finance in the recent uptrend. Chicago Mercantile Exchange (CME)’s BTC open interest exceeded 100,000 contracts for the first time, surpassing Binance and becoming the top exchange in terms of BTC open interest. This strong presence of traditional financial investors is evident in the Grayscale Bitcoin Trust (GBTC) discount rate, which has now narrowed to 10.3%, its lowest level since August 2021. .

The increase in traditional financial activity related to BTC confirms the confidence market investors currently have regarding the approval of a future BTC spot ETF. It is important to note that the first final decision deadline from the SEC on the 21Shares BTC Spot application is scheduled for January 10, 2024. Presumably, to avoid giving issuers a first-mover advantage, the SEC will make a final decision to approve or deny all applications by this date. Additionally, applications for digital asset spot ETFs continue, with recent news including BlackRock’s ETH Spot ETF following Grayscale’s decision to apply for conversion from Ethereum Grayscale Trust (ETHE) to ETH Spot ETF. It has been revealed that he has applied for an ETF. How many weeks ago?

The surge in prices and trading activity, particularly through traditional financial channels, coupled with a consistent decline in the GBTC discount and significant net inflows observed in ETPs underlying digital assets, has led investors in the market to bet on approval. It suggests that Securing approval from the SEC is likely to attract significant investment from traditional finance, bringing an influx of new investors and potentially strengthening digital assets and pushing them into a more recognized asset class. . Conversely, a rejection would likely cause a short-term economic downturn, given the general expectation in favor of approval and the subsequent positioning of market participants, which will be heavily influenced by this expectation.

Source: the-blockchain.com