WallStreetBets has reportedly rolled out a new blockchain tool, dedicated to fighting against market manipulation in traditional finance.

Specifically, the entity – the grassroots movement operating on Reddit, which obtained notoriety for short-squeezing hyper-leveraged financial establishments – reportedly disclosed details of its WallStreetBets Exchange Traded Portfolios (ETPs) project, which offers investors enhanced exposure to a wide range of assets in a fully decentralized approach. 

“WallStreetBets ETPs may serve as an alternative to kind of the market manipulation by opaque and politically connected banks and hedge funds.”

The new tool is reportedly operational using a decentralized autonomous organization (DAO), which renders portfolio rebalancing the exclusive domain for community members, who practice their rights via the upcoming WSB token. 

Despite the exact release date of the project is yet to be revealed by the group, professionals across the blockchain and fintech sphere have reportedly been connected by the group to work on the new project. 

Jaime Rogozinski, the founder of the r/Wallstreetbets subreddit, reportedly regarded the blockchain and financial markets merger as the “next logical step for finance”, further claiming that it will help create markets with an enhanced democratized nature, along with empowering people throughout the globe. 

The r/Wallstreetbets subreddit is reportedly having 10 million members at the moment -a two-fold increase compared to January when the GameStop drama was uncovered.