{"id":114900,"date":"2021-02-01T12:38:03","date_gmt":"2021-02-01T17:38:03","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=114900"},"modified":"2021-02-01T12:42:22","modified_gmt":"2021-02-01T17:42:22","slug":"listen-elon-musk-presses-robinhood-ceo-about-gamestop-fiasco-restricted-trading","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/listen-elon-musk-presses-robinhood-ceo-about-gamestop-fiasco-restricted-trading\/","title":{"rendered":"LISTEN: Elon Musk Presses Robinhood CEO About GameStop Fiasco, Restricted Trading"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">22<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Flisten-elon-musk-presses-robinhood-ceo-about-gamestop-fiasco-restricted-trading%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=114900&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>In the wake of Wall Street <a href=\"https:\/\/www.dailywire.com\/news\/big-tech-bites-back-robinhood-suspends-trading-discord-bans-wallstreetbets-over-gamestocp-surge\">reeling<\/a> from amateur investors pouring money into stocks heavily <a href=\"https:\/\/www.youtube.com\/watch?v=xszj1flDxl0\">shorted<\/a> by multiple hedge funds, most notably GameStop, SpaceX founder and Tesla CEO Elon Musk challenged Robinhood CEO Vlad Tenev about restricting trading to GameStop and other so-called meme stocks.<\/p>\n<p>Unexpectedly, Musk pressed Tenev while on audio app Clubhouse.\u00a0&#8220;Spill the beans, man, what happened last week? Why couldn&#8217;t people buy the GameStop shares?&#8221; Musk asked. &#8220;The people demand an answer, and they want to know the details and the truth.&#8221;<\/p>\n<p>As <a href=\"https:\/\/www.businessinsider.com\/elon-musk-clubhouse-robinhood-ceo-vlad-tenev-interview-gamestop-stocks-2021-2\">reported<\/a> by Business Insider, Tenev echoed a statement from Robinhood. The company, he said, per the report, &#8220;had been forced to temporarily stop users from buying those stocks because the surge had resulted in a deposit requirement of $3 billion from the National Securities Clearing Corporation. Robinhood, which had raised only $2 billion in venture capital, spoke with the NSCC to get that requirement reduced to $700 million, Tenev said.&#8221;<\/p>\n<p>&#8220;Tenev said that the NSCC&#8217;s decision-making process to get to the $3 billion figure was &#8220;opaque&#8221; and that it was hard to know why it settled on that,&#8221; the report added.<\/p>\n<p>&#8220;Did something maybe shady go down here?&#8221; Musk said.\u00a0Tenev denied the accusation, and noted\u00a0that the NSCC &#8220;had been cooperative after the initial $3 billion deposit request,&#8221; Business Insider reported.<\/p>\n<p>The Robinhood CEO also said it was &#8220;just false&#8221; that Citadel Securities, a market maker and intermediary for Robinhood, could have influenced the decision from the NSCC:\u00a0&#8220;There was a rumor that Citadel or other market makers kind of pressured us into doing this, and that&#8217;s just false.&#8221;<\/p>\n<p>&#8220;But wouldn&#8217;t they have a strong say in who got put in charge of that organization since it&#8217;s an industry consortium and not a government consortium, or not a government regulatory agency?&#8221; Musk questioned.<\/p>\n<p>Tenev doesn&#8217;t &#8220;have any reason to believe&#8221; that, he said, adding, &#8220;Then you&#8217;re getting into the conspiracy theories a little bit.&#8221;<\/p>\n<p>During the interview, Musk joked to Tenev, &#8220;Is anyone holding you hostage right now? &#8230; Blink twice.&#8221;<\/p>\n<p>As noted by <a href=\"https:\/\/www.dailywire.com\/news\/the-4-business-moguls-cheering-for-the-little-guys-in-the-gamestop-fiasco?%3Futm_source=twitter&amp;utm_medium=social&amp;utm_campaign=dwtwitter\">The Daily Wire<\/a>,\u00a0Musk has encouraged the prospect of small investors beating Wall Street elites at their own game:<\/p>\n<blockquote>\n<p><em>\u201cHere come the shorty apologists,\u201d \u201cgive them no respect,\u201d \u201cget Shorty,\u201d he <a href=\"https:\/\/twitter.com\/elonmusk\/status\/1354891972406865922\">tweeted<\/a> on Thursday in reference to those defending hedge funds that had bet against GameStop.<\/em><\/p>\n<p><em>Musk \u2014 who boasts a net worth of nearly $190 billion and recently overtook Amazon founder Jeff Bezos as the world\u2019s richest man \u2014 <a href=\"https:\/\/twitter.com\/elonmusk\/status\/1354890601649610753\">described<\/a> the practice of shorting stocks as \u201ca scam.\u201d<\/em><\/p>\n<p><em>He is also highly critical of Big Tech\u2019s attempts to mute amateur investors\u2019 conversations. \u201cEven Discord has gone corpo \u2026\u201d Musk <a href=\"https:\/\/www.dailywire.com\/news\/even-discord-has-gone-corpo-elon-musk-rips-discord-banning-wallstreetbets\">remarked<\/a> after the platform banned members of r\/WallStreetBets.<\/em><\/p>\n<\/blockquote>\n<p>LISTEN:<\/p>\n<p>\n<iframe loading=\"lazy\" title=\"Elon Musk on Clubhouse Live Stream (High Quality Audio) Full Version\" width=\"500\" height=\"281\" src=\"https:\/\/www.youtube.com\/embed\/Cba53J1jyPM?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe>\n<\/p>\n<p><strong>Related:\u00a0<a href=\"https:\/\/www.dailywire.com\/news\/the-4-business-moguls-cheering-for-the-little-guys-in-the-gamestop-fiasco?%3Futm_source=twitter&amp;utm_medium=social&amp;utm_campaign=dwtwitter\">The 4 Business Moguls Cheering For \u2018The Little Guys\u2019 In The GameStop\u00a0Fiasco<\/a><\/strong><\/p>\n<p><strong>Related:\u00a0<a href=\"https:\/\/www.dailywire.com\/news\/even-discord-has-gone-corpo-elon-musk-rips-discord-banning-wallstreetbets\">\u2018Even Discord Has Gone Corpo\u2019: Elon Musk Rips Discord Banning\u00a0\u2018WallStreetBets\u2019<\/a><\/strong><\/p>\n<p><i><span style=\"font-weight: 400\">The Daily Wire is one of America\u2019s fastest-growing conservative media companies and counter-cultural outlets for news, opinion, and entertainment. Get inside access to The Daily Wire by becoming a <\/span><\/i><a href=\"https:\/\/www.dailywire.com\/subscribe\"><i><span style=\"font-weight: 400\">member<\/span><\/i><\/a><i><span style=\"font-weight: 400\">.\u00a0<\/span><\/i><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In the wake of Wall Street reeling from amateur investors pouring money into stocks heavily shorted by multiple hedge funds, most notably GameStop, SpaceX founder and Tesla CEO Elon Musk &#8230;<\/p>\n","protected":false},"author":1,"featured_media":1892377,"comment_status":"close","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[4432,4249,4577,4250,4578,3853],"class_list":["post-114900","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","tag-about","tag-elon","tag-listen","tag-musk","tag-presses","tag-robinhood"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/114900","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=114900"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/114900\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1892377"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=114900"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=114900"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=114900"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}