Exposing The Robinhood Scam: Here’s How Much Citadel Paid To Robinhood To Buy Your Orders
Robinhood was in many way a real time order and intelligence gathering unit for the big guys, with regulators looking the other way.
(From Zerohedge)
“As soon as those emails went out, the conspiracy theories started coming, so my phone was blowing up with, ‘how could you do this, how could you be on the side of the hedge funds,’” he (Vad Tenev, Robinhood CEO) said.
What Tenev did not say, or explain, is why his company – which is merely a client-facing front of Citadel, which buys the bulk of Robinhood’s orderflow to use it perfectly legally in any way it sees fit – was so massively undercapitalized that the DTCC required several billion more in collateral to protect Robinhood’s own investors against the company’s predatory ways of seeking to capitalize on the gamification of investing making it nothing more (or less) than a trivial pursuit to millions of GenZ and millennial investors.
This article was originally posted here: https://www.ac2news.com/2021/02/exposing-the-robinhood-scam-heres-how-much-citadel-paid-to-robinhood-to-buy-your-orders/.
