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Olsen: Robinhood takes its turn in the congressional hot seat

February 22, 2021

The widely awaited first congressional hearing on GameStop took place Thursday, and it was nowhere near as climactic as expected. True, most — though not all — representatives quickly agreed on the villain: Vlad Tenev, CEO of Robinhood, the platform many of the investors in the game retailer used to run the stock up from low double digits to more than $500, before it plunged back to earth. Of course, Tenev apologized in the semi-groveling, semi-self-aggrandizing way typical at these hearings, promising to do better in the future — but it wasn’t clear what exactly needed to change. When asked point blank by Rep. Madeleine Dean (D-Pa.) what “mistakes” he specifically made, he couldn’t answer.

Article Source: Washington Post

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