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In unsurprising news, Reddit prepares IPO (www.businessinsider.com)

submitted 10 months ago by [email protected] to c/[email protected]

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Now the social media platform is aiming for an IPO in the first quarter of 2024 with a valuation of $15 billion, and has been in talks with potential investors like Goldman Sachs and and Morgan Stanley, per Bloomberg.

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[–] [email protected] 1 points 10 months ago

The GameStop stuff illustrates exactly what I'm talking about here though, all those people on Robinhood getting force-sold because their ownership of stocks was virtual and the ones actually on the hook to finalize things were the exchange's creditors.

Naturally for a big player putting billions on something they are going to be doing it directly and thus have full legal liability and unlimited potential losses like you say, but I expect losses are probably limited to the collateral amount for regular people in most circumstances, because otherwise it would be a ridiculous mess for the party providing the loans to them.