GameStop Hearing, Part 1
Robinhood CEO Vlad Tenev and investment firm executives testified before the House Financial Services Committee on GameStop’s rapid stock price increase and Robinhood’s decision to halt customers buying these stocks on the platform. In his opening testimony, Mr. Tenev told lawmakers Robinhood imposed temporary trading restrictions to meet increased regulatory deposit requirements. “We don’t answer to hedge funds. We serve the millions of small investors who use our platform every day to invest,” said Mr. Tenev. Other witnesses included Reddit c…