Congress is blaming Robinhood, not Reddit
We didn't learn much new in today's hearing, but the spotlight was definitely on the gamified trading app, rather than the traders on r/WallStreetBets. Vlad Tenev, Robinhood’s CEO, very much occupied the hot seat in today’s hearing before the House Financial Services Committee over January’s market volatility. None of the representatives seemed particularly interested in putting the screws to Reddit CEO Steve Huffman, and many seemed to give Keith Gill the same props the rest of us did. These aren’t the market manipulators you are looking forGill, in all fairness, was the most likeable....
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Robinhood's CEO said the platform's decision to halt buy orders on GME, NOK and AMC was based on a "technical and operational" one, not outside pressure.
Both the Senate and the House are looking into Wall Street's market practices, especially short selling. Legislators are responding fast to the madness surrounding Gamestop and AMC shares and the hedge funds selling them short.On Jan. 28, Chairwoman of the House Financial Services Committee Maxine Waters announced a coming hearing on short-selling. Sherrod Brown, the incoming chairman of the Senate Banking Committee, similarly called for a re-examination of stock market rules. Short selling has been the subject of widespread controversy as the past two days have seen wild volatility for....
Robinhood Markets Inc., the American financial services company headquartered in Menlo Park, California, has seen its initial public offering (IPO) delayed by the U.S. Securities and Exchange Commission (SEC). According to a report citing “people familiar with the matter” the SEC is questioning Robinhood’s cryptocurrency business. SEC Questions Robinhood’s Crypto Dealings, IPO Delayed Robinhood was supposed to be having an initial public offering this month but according to a report from Bloomberg, the listing has been slowed by the SEC. The report cites a few....
Fearing that recent delistings and volatility "undermine market confidence," the U.S. securities regulator says it is looking into the Robinhood fiasco. The U.S. securities watchdog is looking into the affair of Robinhood and the Redditors.At least in so many words. The Securities and Exchange Commission made a joint statement on Friday expressing concern over the "extreme price volatility of certain stocks’ trading prices over the past several days."Though the commission didn't use the words "GameStop," "Robinhood," or "Reddit," it's obvious that what the commission is talking about is....
After Robinhood Markets launched the company’s beta Web3 wallet on Tuesday and listed the stablecoin usd coin on the exchange platform Robinhood Crypto last week, the company announced a strategic partnership with Circle Financial. The deal revealed on Wednesday will provide Robinhood Crypto and Robinhood Wallet users with the ability to purchase and sell usd coin, and access “exclusive in-app educational modules to earn USDC rewards.” Robinhood and Circle Partner to Offer USDC Accessibility On Wednesday, Robinhood Markets (Nasdaq: HOOD) published an “Under the....