Robinhood CEO Vlad Tenev denies aiding hedge funds
Robinhood restricted customers’ trades of GameStop to meet clearing demands, testimony ahead of hearing says
Washington — Robinhood Markets CEO Vlad Tenev said in prepared congressional testimony on Wednesday that his firm didn’t improperly aid hedge funds and that it restricted customers’ trades of GameStop to meet clearing demands.
“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,” he said in testimony released by the House Financial Services Committee ahead of Thursday’s hearing. “Trading limits we put in place on GameStop and other stocks were necessary to allow us to continue to meet the clearinghouse deposit requirements.”..
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