Congress announces hearings on stock market in light of Robinhood v. Reddit b...
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....
Related News
While Congress is planning multiple hearings, it's less clear what financial regulators might do.
The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — one week on Cointelegraph in one link! Coming every Saturday, Hodlers Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more a week on Cointelegraph in one link.Top Stories This WeekRob from the poor and give to the rich? Robinhood prompts furious backlash after restricting tradesThe volatility seen on the stock markets this week made some of....
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.
Just this past Tuesday, the United States Congress held three simultaneous hearings regarding the uses of crypto and its potential use in existing financial institutions. Though recently the Biden Administration has scrutinized the use of digital assets on the basis of tax evasion, Bitcoin steadily climbs with the hopes of a close above $40K. Led […]
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....