Kourtney Kardashian shows off 42nd birthday gift from Travis Barker, Prince Charles to take estranged son Harry to see Philip tributes: report, Brotherly snub: William asked for distance from Harry at Philip's funeral, Woman thinks she saw baby dinosaur running through her backyard, Lip readers reveal what Prince William said to Harry at Philip's funeral. A Waters spokesperson did not respond to a request for comment. After a hedge fund meltdown over the GameStop (GME) short squeeze that spurred a conflict of interest, Robinhood CEO Vlad Tenev may be receiving some democracy of his own. The U.S. House Financial Services Committee held a hearing concerning Robinhood and Gamestop today. “The buying surge that occurred during the last week of January in stocks like GameStop was unprecedented, and it highlighted a number of issues that are worthy of deep analysis and discussion. Central figures in the GameStop stock market saga are set to testify before Congress next week, including the CEOs of Robinhood, Citadel, Melvin … 24 38 25 35 2 2. The CEO of online stock brokerage Robinhood is expected to testify before a House committee on Feb. 18 as lawmakers dig into the firm's role in the tumultuous trading of GameStop stock and other companies, people familiar with the matter said. Robinhood Chief Executive Vlad Tenev is expected to testify before a U.S. House committee on Feb. 18, Politico reported on Monday, citing people familiar with the matter. Griffin, meanwhile, will distance Citadel from Robinhood’s actions after public scrutiny fell on him and the firm for paying to execute the app’s trades, a legal practice that nonetheless caused outrage on Reddit boards and has garnered the attention of politicos like Sen. Elizabeth Warren. I heard Robinhood was tapping lines of credit and I opened a brokerage account on Schwab. 370,685, This story has been shared 144,875 times. It was not clear if Democrats would ask other financial institutions to testify. The hearing before the House Financial Services Committee with Robinhood CEO Vlad Tenev is primed to be a blockbuster. Last month, shares of GameStop and AMC multiplied in value as traders on the Reddit forum “WallStreetBets” pumped them, only for them to seesaw after trading app Robinhood blocked investors from being able to buy. | Getty Images. Tenev will likely be called for a hearing on February 18 by Democratic Rep Maxine Waters, who chairs the House Financial Services Committee, sources told Politico on Monday. Robinhood CEO Vladimir Tenev and Reddit CEO Steve Huffman will testify on Thursday to the U.S. House Committee on Financial Services, in regards … Terms of Use demanding answers. Privacy Notice The House Financial Services Committee summoned some of the key players in the saga to testify, including Robinhood CEO Vlad Tenev, Reddit CEO Steve Huffman, Citadel LLC CEO … The transfer out of RH should be done by this Friday. Robinhood CEO Vladimir Tenev is expected to defend his company against suggestions it wasn’t acting in the best interests of its customers, according to his testimony published Wednesday. Robinhood CEO expected to testify before U.S. House committee on Feb. 18 -Politico. 108k. Robinhood CEO To Testify Vlad Tenev, the co-CEO of the free-to-trade app Robinhood, is expected to testify before the House Financial Services Committee on Feb. 18. Rep. Al Green (D-Texas), who chairs the Financial Services Oversight Subcommittee, is focused on Citadel's role in the GameStop saga. The CEOs of Robinhood, Citadel, Melvin Capital and Reddit will testify at a U.S. House Committee on Financial Services hearing this week relating to issues around the … “Our customers are our top priority, particularly the millions of small investors who use our platform every day to invest for their future.”. 144,875, This story has been shared 84,641 times. House Financial Services Chair Maxine Waters (D-Calif.) arrives for a committee hearing. Currently, stock trades require two business days between when they are executed and when they are settled. CEOs of Robinhood and Reddit to Testify in Federal GameStop Hearing. Close. “I’m looking forward to addressing those issues today, but I want to be clear at the outset: any allegation that Robinhood acted to help hedge funds or other special interests to the detriment of our customers is absolutely false and market-distorting rhetoric,” a transcript of his remarks reads. Your California Privacy Rights Do Not Sell My Personal Information, Your California Privacy Rights She did not reveal what witnesses have been called. A second panel would include Robinhood CEO Vlad Tenev, representatives from financial industry trade groups, and a Reddit executive. ROBINHOOD CEO Vlad Tenev will reportedly testify before Congress as the online stock brokerage company faces scrutiny for putting limits on customers’ GameStop shares as stocks surged. This story has been shared 144,875 times. Some of the investors betting against the companies — a maneuver called short selling — subsequently suffered huge losses. “I first learned of Robinhood’s trading restrictions only after they were publicly announced,”. Tim Cook, chief executive of Apple Inc. AAPL, -0.25%, is among more than a dozen witnesses scheduled to speak on behalf of the company in … Gill, the star Reddit trader, will stand by his bullish GameStop calls, despite being slapped with a lawsuit for his role in the trading frenzy. Key players in last month’s stock-trading frenzy involving GameStop and other companies will testify before Congress Thursday, including billionaire Citadel founder Ken Griffin … 84,641, This story has been shared 49,408 times. House Financial Services Chair Maxine Waters (D-Calif.) and other Democrats are vowing to investigate what role Wall Street hedge funds may have played in the move to halt trading. Last month saw massive shortselling of Gamestop's corporate stock (GME) coordinated on social media. The House Financial Services Committee is investigating how massive retail trading pushed certain stocks sky so high. Keith Gill, also known as "Roaring Kitty", will stand by his bullish GameStop calls. Sorry, your blog cannot share posts by email. The hearing before the House Financial Services Committee with Robinhood CEO Vlad Tenev, whose appearance has not been formally announced, is primed to be a blockbuster. GameStop’s stock soared from trading for under $20 a share in the beginning of January to a high of $347.51 on Jan. 27, more than 1,600 percent. Reddit CEO Steve Huffman, Robinhood co-CEO Vlad Tenev, and Keith Gill (aka Roaring Kitty) are all on the witness list for an upcoming hearing … The House … I used social media, and WallStreetBets on Reddit are leveling the playing field, ” committee hearing by Ken... Youtube, Twitter, and WallStreetBets on Reddit are leveling the playing field, ” Gill will say bailed. The potential for market manipulation by social media to promote GameStop stock to unwitting is. Betting against the companies — a maneuver called short selling — subsequently suffered huge losses been shared times. 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