News Platforms 

The jig is up: Robinhood says it’s closed the ‘infinite leverage’ loophole that allowed users to build positions worth millions

“Robinhood’s “infinite leverage” loophole has been closed and accounts using the glitch have been suspended, a company spokesperson said Thursday” writes Finanzen Net Gmbh for businessinsider.com. The typically unauthorized trade involves Robinhood Gold users selling call options with money borrowed through the platform.One WallStreetBets member who allegedly lost $180,000 through the trade said on November 4 that their account was deactivated for trying to borrow more cash.”We recently identified a small number of accounts engaging in problematic trading activity on our platform,” Robinhood spokesperson Lavinia Chirico said in an emailed…

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News Stocks 

Robinhood traders discovered a glitch that gave them ‘infinite leverage’

“And that means that the more money a user borrows, the more money Robinhood will lend them for future trading” writes Brandon Kochkodin for latimes.com. Users of Robinhood Gold are selling covered calls using money borrowed from Robinhood.A glitch in the Robinhood Markets Inc. system is allowing users to trade stocks with excess borrowed funds, giving them access to what amounts to free money.Dubbed the “infinite money cheat code” by users of Reddit Inc.’s WallStreetBets forum, the bug is being exploited, according to users on the forum. Source: latimes.com

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Crypto News 

Dolomite to Launch Crypto Margin Trading Services This Week

“Dolomite, a decentralized crypto exchange, has announced that it will introduce margin trading facilities for the digital asset traders” writes Arnab Shome for financemagnates.com. Most recently, KuCoin introduced margin trading services to its wide base of traders.Scheduled for a launch on Friday, the new trading feature will be built on dydx protocol instead of the existing Loopring protocol used for its non-custodial trading services.Meanwhile, other prominent exchanges are also providing margin trading facilities to the crypto traders.Dolomite is building off of the dYdX margin lending protocol, giving it access to…

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Brokers News 

ISA to Adopt ESMA-Like Restrictions on FX Trading

“Israeli forex industry is about to face yet another blow to its operations in the country” writes Michael Pearl for financemagnates.com. The proposed framework will include a reduction on leverage on trading, alongside transparency demands on the traders’ profit and loss figures.Currently, the Knesset barely has an active legislation process. Source: financemagnates.com

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News 

PG&E blackout is latest leverage in fight over California’s energy mix

“For PG&E, the power shutdown, which it called a “public safety power shutdown,” was necessary” reports washingtonexaminer.com. “We really want to work with them,” but major utilities often view distributed energy as a competitor, she added.Investments in renewable energy could offset utility spending on things such as new gas plants or substation upgrades, Dyson added. Source: washingtonexaminer.com

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News 

Learn to leverage Facebook marketing with this training

“This Facebook Marketing Master Class Bundle dives deep into everything Facebook has to offer for marketing a business” writes Alex Mcgeeney for nypost.com. But the truth is it’s alive and well – especially when it comes to digital marketing.Whether you want to market your own business, pursue a digital marketing career, or add a new skill to your résumé, you can master this essential digital marketing medium for yourself with the help of nine online training courses. Source: nypost.com

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News 

Pentagon chief Esper: China’s economic power is ‘what concerns me the most’

“Defense Secretary Mark Esper accused China of using its economic power as political leverage with smaller nations” reports washingtonexaminer.com. Esper pointed to China’s Belt and Road Initiative as a main driver of its economic leverage. Esper said China’s economic leverage is “what concerns me the most” about the future, especially as China continues to become more integrated in the world economy.The Chinese Communist Party has used its economic power for strategic purposes since it opened up economically in the 1970s.”This long-term strategic access is precisely what Beijing desires, and it’s…

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News 

Gov. Whitmer losing political leverage as clock ticks on road funding

“Gretchen Whitmer on Monday put her signature issue on hold when she agreed to do a budget without a long-term road funding plan” writes Emily Lawler for mlive.com. They presented her with options during a closed-door meeting last month, but Whitmer rejected the options, saying they impacted education funding.A move experts say takes away a key leverage point with Republican lawmakers who have been reluctant to raise new revenue.For months, she signaled to Republican House Speaker Lee Chatfield, R-Levering, and Senate Majority Leader Mike Shirkey, R-Clark Lake, that she wouldn’t…

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