Robinhood CEO apologizes for restricting GameStop trading, insists company 'played this by the books'

Robinhood
(Image credit: OLIVIER DOULIERY/AFP via Getty Images)

The CEO of Robinhood during a congressional hearing on last month's Wall Street chaos apologized for restricting GameStop trading, calling what occurred "unacceptable."

Vlad Tenev, CEO of the trading app, offered his apology during a House Financial Services Committee hearing Thursday that examined the events surrounding Reddit users last month sending GameStop stock, which had been heavily shorted by hedge funds, soaring. On Jan. 28, Robinhood temporarily limited trading of stock from GameStop and other companies, citing "recent volatility," a decision that drew heavy criticism and scrutiny from lawmakers.

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Brendan Morrow

Brendan worked as a culture writer at The Week from 2018 to 2023, covering the entertainment industry, including film reviews, television recaps, awards season, the box office, major movie franchises and Hollywood gossip. He has written about film and television for outlets including Bloody Disgusting, Showbiz Cheat Sheet, Heavy and The Celebrity Cafe.