The chief executive of Robinhood has publicly denied what he called “conspiracy theories” that claimed established hedge funds and US financial regulators were attempting to slow down frenzied purchases of GameStop shares.
Vlad Tenev told Elon Musk in a livestreamed interview on Monday morning that “you’re getting into conspiracy theories a little bit” after Mr Musk suggested that large US funds like Citadel Securities may have been able to influence the actions of US regulators.
Some retail investors have criticised Citadel Securities for executing orders from Robinhood traders while its owner supported a fund that had shorted GameStop shares.
“From our perspective, Citadel and other market makers weren’t involved in that,” Mr Tenev said when asked Mr Musk whether he believed there had been collusion between large investors and financial regulators.
Mr Tenev also rejected a suggestion made by Mr Musk that there may have been some “shadiness” behind a $3bn demand made of Robinhood by US regulators. “I wouldn’t impugn shadiness, Elon, or anything like that,” Mr Tenev replied.
The comments came after Mr Tenev publicly promised to ease most restrictions on trading of GameStop shares on Robinhood later today after the business raised fresh funding.
Elsewhere, Conservative MP Damian Collins has written in today’s Telegraph on why he believes we should reject Nick Clegg’s calls to allow Facebook to regulate itself with its own Oversight Board. “Facebook can’t self-regulate itself out of the mess it’s made,” he writes.
There is also a public row over the number of public contracts being won by Amazon’s cloud hosting division.
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