| Part Of Robinhood CEO, Reddit Co-Founder & Others Testify on GameStop Stock
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2021-02-21T17:41:07-05:00https://images.c-span.org/Files/5e3/20210218121908001_hd.jpgRobinhood 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 co-founder Steve Huffman, Citadel CEO Kenneth Griffin, Melvin Capital Management CEO Gabriel Plotkin, and GameStop investor Keith Gill. Mr. Griffin told committee members that his company had no role in Robinhood’s decision to limit trading on GameStop or other securities. Lawmakers' questions related to protections for retail investors, the “gamification” of stock trading, high-frequency trading, SEC regulations, and other topics.
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… read more
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 co-founder Steve Huffman, Citadel CEO Kenneth Griffin, Melvin Capital Management CEO Gabriel Plotkin, and GameStop investor Keith Gill. Mr. Griffin told committee members that his company had no role in Robinhood’s decision to limit trading on GameStop or other securities. Lawmakers' questions related to protections for retail investors, the “gamification” of stock trading, high-frequency trading, SEC regulations, and other topics. close
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People in this video
- Andy Barr U.S. Representative [R] Kentucky
- Emanuel Cleaver II U.S. Representative [D] Missouri
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Keith Gill Investor - Al Green U.S. Representative [D] Texas
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- French Hill U.S. Representative [R] Arkansas
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- Frank D. Lucas U.S. Representative [R] Oklahoma
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- Carolyn Maloney U.S. Representative [D] New York
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- Gregory Meeks U.S. Representative [D] New York
- Ed Perlmutter U.S. Representative [D] Colorado
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- David Scott U.S. Representative [D] Georgia
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- Steve Stivers U.S. Representative [R] Ohio
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- Nydia M. Velázquez U.S. Representative [D] New York
- Ann Wagner U.S. Representative [R] Missouri
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