{"id":36474,"date":"2021-02-15T17:54:16","date_gmt":"2021-02-15T15:54:16","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=36474"},"modified":"2025-08-29T06:31:18","modified_gmt":"2025-08-29T03:31:18","slug":"executives-from-robinhood-citadel-melvin-capital-and-reddit-to-testify-before-the-u-s-congress","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/executives-from-robinhood-citadel-melvin-capital-and-reddit-to-testify-before-the-u-s-congress\/","title":{"rendered":"Executives from Robinhood, Citadel, Melvin Capital and Reddit to testify before the U.S. Congress"},"content":{"rendered":"<p>Executives from the companies involved in the GameStop stock saga will testify at a hearing before the U.S. House Committee on Financial Services.<\/p>\n<p>\\n<\/p>\n<p><!--more--><\/p>\n<p>\\n<\/p>\n<blockquote class=\\\"twitter-tweet\\\"><p>\\n<\/p>\n<p dir=\\\"ltr\\\" lang=\\\"en\\\">\ud83d\udea8 <a href=\\\"https:\/\/twitter.com\/hashtag\/BREAKING?src=hash&#038;ref_src=twsrc%5Etfw\\\">#BREAKING<\/a>: Chairwoman <a href=\\\"https:\/\/twitter.com\/RepMaxineWaters?ref_src=twsrc%5Etfw\\\">@RepMaxineWaters<\/a> Announces <a href=\\\"https:\/\/twitter.com\/hashtag\/Robinhood?src=hash&#038;ref_src=twsrc%5Etfw\\\">#Robinhood<\/a>, <a href=\\\"https:\/\/twitter.com\/hashtag\/Citadel?src=hash&#038;ref_src=twsrc%5Etfw\\\">#Citadel<\/a>, <a href=\\\"https:\/\/twitter.com\/hashtag\/MelvinCapital?src=hash&#038;ref_src=twsrc%5Etfw\\\">#MelvinCapital<\/a>, <a href=\\\"https:\/\/twitter.com\/hashtag\/Reddit?src=hash&#038;ref_src=twsrc%5Etfw\\\">#Reddit<\/a> CEOs and Keith Gill to Testify at Committee Hearing | <a href=\\\"https:\/\/t.co\/dvDenXvANQ\\\">https:\/\/t.co\/dvDenXvANQ<\/a> <a href=\\\"https:\/\/t.co\/krRC0DhV0l\\\">pic.twitter.com\/krRC0DhV0l<\/a><\/p>\n<p>\\n<\/p>\n<p>\u2014 U.S. House Committee on Financial Services (@FSCDems) <a href=\\\"https:\/\/twitter.com\/FSCDems\/status\/1360380422828531712?ref_src=twsrc%5Etfw\\\">February 13, 2021<\/a><\/p>\n<\/blockquote>\n<p>\\n<\/p>\n<p><script async src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<p>\\n<\/p>\n<p>On February 18, testimony will be given by Vlad Tenev, co-founder of the crypto-friendly Robinhood platform; Kenneth Griffin, CEO of market-maker Citadel; Gabriel Plotkin, head of the Melvin Capital hedge fund; Reddit&#8217;s Steve Huffman and r\/WallStreetBets member Keith Gill.<\/p>\n<p>\\n<\/p>\n<p>The latter is known by the usernames u\/DeepFuckingValue and <a href=\\\"https:\/\/www.youtube.com\/channel\/UC0patpmwYbhcEUap0bTX3JQ\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener\\\">Roaring Kitty<\/a>. According to the <a href=\\\"https:\/\/www.dailymail.co.uk\/news\/article-9198589\/YouTuber-Roaring-Kitty-disrupted-Wall-Street-Boston-suburban-dad.html\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener\\\">Daily Mail<\/a>, Gill sparked <a href=\"https:\/\/u1f987.com\/en\/news\/robinhood-at-the-centre-of-the-gamestop-dogecoin-and-reddit-trader-scandal\">&#8216;war&#8217;<\/a> between retail traders and Wall Street.<\/p>\n<p>\\n<\/p>\n<p>The committee is examining whether there was collusion between Robinhood and hedge funds. Against the backdrop of <a href=\"https:\/\/u1f987.com\/en\/news\/skybridge-capital-chief-calls-gamestop-stock-pump-a-positive-sign-for-bitcoin\">stock pump<\/a> for GameStop, the platform restricted trading in several assets, drawing criticism from authorities and investors.<\/p>\n<p>\\n<\/p>\n<p>As a result of the GameStop rally, the Melvin Capital hedge fund lost <a href=\\\"https:\/\/www.cnbc.com\/2021\/01\/31\/melvin-capital-lost-more-than-50percent-after-betting-against-gamestop-wsj.html\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener\\\">53% of capital<\/a> in January. The total losses of short sellers on the company&#8217;s stock last month were estimated at <a href=\\\"https:\/\/www.cnbc.com\/2021\/01\/29\/gamestop-short-sellers-are-still-not-surrendering-despite-nearly-20-billion-in-losses-this-year.html\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener\\\">$19.75 billion<\/a>.<\/p>\n<p>\\n<\/p>\n<p>Tenev, in a conversation with Tesla founder Elon Musk, denied that <a href=\"https:\/\/u1f987.com\/en\/news\/robinhood-co-founder-explains-trading-halt-to-elon-musk\">Citadel forced Robinhood<\/a> to ban trades in the stocks.<\/p>\n<p>\\n<\/p>\n<p>Subscribe to ForkLog news on <a href=\\\"https:\/\/vk.com\/forklogcom\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener\\\">VK<\/a>!<\/p>\n<p>&#8221; ,&#8221;excerpt_text&#8221;:&#8221;Executives from the companies involved in the GameStop stock saga will testify at a hearing before the U.S. House Committee on Financial Services.&#8221;,&#8221;short_excerpt&#8221;:&#8221;&#8221;} } }<\/|>} }}}}}}}  (Note: This is a formatting error due to escaping; please use the cleaned version below.){<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Executives from the companies involved in the GameStop stock saga will testify at a hearing before the U.S. House Committee on Financial Services.<\/p>\n","protected":false},"author":1,"featured_media":36475,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1243,1156,1234,26],"class_list":["post-36474","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-gamestop","tag-institutional-investors-and-whales","tag-robinhood","tag-usa"],"aioseo_notices":[],"amp_enabled":true,"views":"17","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/36474","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=36474"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/36474\/revisions"}],"predecessor-version":[{"id":36476,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/36474\/revisions\/36476"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/36475"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=36474"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=36474"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=36474"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}