CashApp, the Bitcoin-compatible mobile payments app from Square, the US financial services company, has restricted purchases of some Wall Street slogans to more than 4 hours today.
According to an announcement from Cash Up, his clearing broker, Axus, has suspended the app's ability to complete stock purchases of GameStop, AMC Entertainment, Nokia, and Cos Corporation At least four of the shares individual investors have paid on the Reddit affiliate page r / Wallstreetbets in their battle against hedge fund deficiencies. However, the app later tweeted that the broker had restarted trading to AMC and Nokia.
According to Queen Telegraph, CashUp initially said it strongly disagreed with Axus's measures and added that it would try to allow users to purchase all affected stocks as soon as possible.
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The platform did not mention any change in the trading status of GameStop and Coss Corporation shares, but GME's price fell below $ 100 for the first time in a week, reaching $ 99.50 at time of writing.
and although it appears that the cash app has been trying to distance itself from any potential allegations of market manipulation in the wake of GameStop's short sales, the restrictions Imposed on purchases were the same as those imposed by other trading apps last week.
Robinhood announced on Thursday that it had stopped buying GameStops and other shares after many stocks rose. Since then, the trading app has lowered these restrictions, but its users are still restricted to buying 1 GME stock as of yesterday.
It seems like a lot on social media are blaming the restriction of trading on Axus rather than CashUp, but still expressing their frustration after the similarities with Robinhood.
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as Phoenix Williams Twitter user said: Thank you for your transparency. Robinhood was in the same position but they chose to lie.
Jack Dorsey, founder and CEO of Square, tweeted a message to his 5.2 million followers in response to the trading restrictions, essentially telling users to hold their assets in the mess On the market.
