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If this is true Robinhood should be explaining this to their customers. The silence for me is deafening and indicative that something more sinister is happening
by andy_ppp 6y ago
If this is true Robinhood should be explaining this to their customers. The silence for me is deafening and indicative that something more sinister is happening.
- jonp888 6y agoThey have. There is no silence. They made a blog post saying pretty much exactly this: https://blog.robinhood.com/news/2021/1/28/an-update-on-market-volatility https://blog.robinhood.com/news/2021/1/28/an-update-on-marke... - they had capital and deposit obligations which they couldn't meet due to volatility, but having sorted this out they can resume trding.
- DangitBobby 6y agoTheir first statement was nothing like that [1]. Why do we choose to believe the second thing over the first thing? Because it makes them look better? 1. https://blog.robinhood.com/news/2021/1/28/keeping-customers-informed-through-market-volatility https://blog.robinhood.com/news/2021/1/28/keeping-customers-...
- XorNot 6y agoIt's likely both are true and that's the point: RH definitely will have some actual contractual and legal concerns... But how they react to that is almost certainly bring governed by whatever would help Citadel's other investments the most. Any good lie is based on some truth. That veneer of plausibility makes everyone else carry your water for free.
- coliveira 6y agoThe whole point is that these Wall Street companies enter into agreements that they don't want to disclose to their customers. This is just a small example.