{"id":168745,"date":"2021-02-02T14:33:04","date_gmt":"2021-02-02T11:33:04","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/robinhood-ceo-to-reportedly-testify-before-us-house-committee-over-gamestop\/"},"modified":"2021-02-02T14:33:04","modified_gmt":"2021-02-02T11:33:04","slug":"robinhood-ceo-to-reportedly-testify-before-us-house-committee-over-gamestop","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/robinhood-ceo-to-reportedly-testify-before-us-house-committee-over-gamestop\/","title":{"rendered":"# Robinhood CEO to reportedly testify before US House committee over GameStop"},"content":{"rendered":"

“# Robinhood CEO to reportedly testify before US House committee over Game<\/a>Stop <\/strong>”
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Robinhood CEO Vlad Tenev will reportedly testify before the United States House Financial Services Committee over the firm\u2019s role in the volatile trading of GameStop and other volatile stocks.<\/p>\n

According to a report<\/a> by the American political publication Politico, Tenev is expected to participate in a virtual hearing headed by Representative Maxine Waters (D-Calif.) on Feb. 18. Politico\u2019s report cited anonymous people familiar with the matter.<\/p>\n

Waters officially announced<\/a>\u00a0the Financial Services Committee\u2019s plans to hold a GameStop-related hearing on Feb. 18. Entitled \u201cGame Stopped? Who Wins and Loses When Short Sellers, Social Media<\/a>, and Retail Investors Collide,\u201d the hearing will focus on recent market volatility issues involving GameStop and other stocks.<\/p>\n

\u201cI am concerned about whether or not Robinhood restricted the trading because there was collusion between Robinhood and some of the hedge funds that were involved with this,\u201d Waters reportedly said.<\/p>\n

The announcement did not specify what witnesses will participate in the hearing. Robinhood has not officially announced Tenev\u2019s participation so far. The firm did not immediately respond to Cointelegraph\u2019s request for comment.<\/p>\n

As previously reported, some U.S. regulators have already drawn attention to Robinhood\u2019s handling the GameStop short squeeze. On Jan. 29, the U.S. Securities and Exchange Commission hinted that it was looking at Robinhood\u2019s issues with GameStop, expressing concern over \u201cextreme price volatility of certain stocks\u2019 trading prices.\u201d<\/p>\n

Robinhood\u2019s GameStop saga started on Jan. 28 when the company suspended buying for GameStop stock and other shares that were allegedly pumped through the r\/Wallstreetbets Reddit community. Robinhood subsequently restricted trading for as many as 50 stocks on Friday before narrowing the restrictions to eight stocks on Feb. 8. Still, Robinhood users are limited to just one GameStop share.<\/p>\n

On Feb. 1, Robinhood\u2019s Tenev discussed<\/a> the firm\u2019s move to restrict trading with Elon Musk on the audio chat app<\/a> Clubhouse. Tenev reportedly said that the decision about restrictions was made by a clearinghouse and was based on the capital requirements. He also denied allegations that trading firm Citadel Securities \u2014 the largest market maker in options in the U.S. \u2014 had pushed the firm to impose the limits.<\/p>\n