Category: Robinhood

GME drops 14% as GameStop announces plans to sell up to 3.5M shares

April 5, 2021

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After skyrocketing above $370 following the Reddit-driven short squeeze, GameStop shares are now trading at around $160. 9525 Total views 27 Total shares GameStop Corporation, an American gaming and consumer electronics retailer, has announced its plans to sell up to 3.5 million GME shares following the stock’s massive and controversial rally. The firm announced Monday […]

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Robinhood targets expanded cryptocurrency trading business

March 19, 2021

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The retail trading platform plans to increase its workforce while adding more cryptocurrency pairs. 3445 Total views 22 Total shares Robinhood CEO Vlad Tenev has said the company is working towards increasing its cryptocurrency trading service. In a fireside chat posted on the broker’s YouTube account on Thursday, Tenev discussed plans to upscale its workforce […]

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Robinhood CEO calls on SEC to revise ‘outdated’ trading rules

February 18, 2021

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Robinhood CEO Vlad Tenev denied that the platform was helping hedge funds, calling on the SEC to get rid of a two-day settlement rule. 2144 Total views 22 Total shares United States lawmakers are set to grill Robinhood CEO Vlad Tenev over the GameStop trading frenzy at a Congressional hearing later today. In his prepared remarks, […]

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Reddit, Robinhood, Citadel CEOs to Testify at GameStop Hearing

February 15, 2021

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The U.S. House Committee on Financial Services hearing will investigate issues around the recent trading surge for shares of GameStop and other companies. Feb 15, 2021 at 12:39 p.m. UTC Reddit, Robinhood, Citadel CEOs to Testify at GameStop Hearing The CEOs of Robinhood, Citadel, Melvin Capital and Reddit will testify at a U.S. House Committee […]

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Wallstreetbets vs. Wall Street: A prelude to DeFi bursting onto the scene?

February 5, 2021

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Was last week’s Reddit versus Wall Street stand-off really the “beginning of the end for centralized finance,” as Gemini founder Tyler Winklevoss described it? Or was it just a one-time instance of individuals coming together to right a perceived wrong — with no long-term economic consequences? As GameStop, a struggling videogame retailer, came under attack […]

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Yellen convenes SEC, CFTC and Fed leaders on Robinhood question

February 3, 2021

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Treasury Secretary Janet Yellen faces the first major hurdle of her tenure with the question of how to handle social media-driven security trading. 4344 Total views 18 Total shares The four horsemen of U.S. financial regulation will meet to discuss market manipulation concerns resulting from the headline-grabbing drama surrounding GameStop stock last week.  Per a […]

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New class action against Robinhood alleges oligopoly manipulation

February 3, 2021

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The unfolding short-squeeze on GameStop stock to the detriment of major hedge funds “could not be allowed to continue.” 3828 Total views 25 Total shares Robinhood, the stock trading app formerly popular with millennials, is facing another class-action suit, following its recent temporary suspension of purchases of GameStop and other “meme-stocks” through its platform. The […]

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State of Crypto: How Will the Government React to GameStop?

February 2, 2021

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Also: Ripple filed its response to the SEC and a FinCEN official discusses the controversial counterparty rule in public for the first time. Feb 2, 2021 at 3:30 p.m. UTC State of Crypto: How Will the Government React to GameStop? Welcome to State of Crypto, a CoinDesk newsletter looking at the intersection of cryptocurrency and […]

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Robinhood reportedly shelves IPO plans in wake of GameStop PR disaster

February 2, 2021

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An IPO is reportedly off the cards for now as Robinhood continues to deal with the fallout from the GameStop saga, and the resultant plunge in public confidence. 2302 Total views 31 Total shares Trading app Robinhood may have put its plans for an initial public offering on hold after public opinion turned against the […]

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Robinhood CEO to reportedly testify before US House committee over GameStop

February 2, 2021

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Regulators want to know the details of the GameStop short squeeze. 2180 Total views 26 Total shares Robinhood CEO Vlad Tenev will reportedly testify before the United States House Financial Services Committee over the firm’s role in the volatile trading of GameStop and other volatile stocks. According to a report by the American political publication […]

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