THELOGICALINDIAN - The arguable Robinhood allowance has been again accused of arbitrary trading practices and Wall Street bunco afterwards banning DOGE and GME trading during acute amount movements
Robinhood Reveals Crypto Ambitions
In a video acquaint on Thursday, Tenev said the aggregation is alive on its wallet appearance and because new bread listings.
“As abundant as bodies are bugging me on that on amusing media, I’m bugging our crypto aggregation and our software engineers. We’re activity to try and get that done as fast as possible. And we’ll see. We ability add some new bill forth the way,” said Tenev.
Tenev added that the aggregation would appoint a “ton” of crypto agents and fabricated statements to criticize Coinbase and added crypto exchanges.
“One affair that we’re apparently not accomplishing as abundant of a job communicating to barter is aloof how amount able our alms is,” Tenev said. “If you barter on Coinbase, or some of these other, affectionate of abate outfits, you’re advantageous 1%, 2%, alike more.”
In January, associates of Reddit’s WallStreetBets association noticed that assorted barrier funds were overexposed on their abbreviate positions for GameStop banal and accomplished a abbreviate squeeze, consistent in billions of dollars account of liquidations for Wall Street institutions. One barrier fund, Melvin Capital, had to be bailed out by Citadel for $2 billion.
The GME pump apparent the aboriginal time retail traders had managed to exhausted Wall Street, and Robinhood’s GME delisting resulted in abuse throughout the trading community. Robinhood bankrupt abounding continued positions after traders’ permission, consistent in absent funds and accusations of bribery and bunco with Robinhood’s Wall Street partners.
The aggregation additionally halted all crypto trading at the acme of a affairs aberration spurred on by accessible figures, including Elon Musk. The move was afresh met with abuse amid retail traders. However, Robinhood still added 3 actor new crypto users in February.
Tenev was summoned to testify in advanced of the U.S. Senate, refusing to acknowledgment questions about abeyant falsehoods he had told the media apropos clamminess problems and his affidavit for awkward crypto trading.
In the latest video, he accustomed the reputational accident Robinhood had suffered, claiming “we’re accomplishing as abundant as we can to get the accurate adventure out there.”
Disclosure: At the time of writing, the columnist captivated Bitcoin
