Citadel Securities issues response to #KenGriffinLied Twitter trend

Citadel Securities is r/WallStreetBets most-hated corporations on Earth, and issues obtained fairly heated at present on social media earlier than the corporate issued a response on Twitter.

Citadel Securities has been carrying the albatross of being r/WallStreetBets most-hated corporations on Wall Road for many of 2021, and issues escalated earlier at present on social media when #KenGriffinLied began to development on Twitter. Many rumors of leaked electronic mail conversations between Citadel CEO Ken Griffin and Robinhood CEO Vlad Tenev fueled the Web rage which in the end culminated in a number of hashtags trending at present throughout social media platforms. After a day of their CEO being buried by some hilarious memes on Twitter, Citadel Securities despatched out their first tweet since January 26, 2021.

This is your entire tweet thread that was posted by Citadel Securities:

  • Citadel Securities didn’t ask Robinhood or another agency to limit or restrict its buying and selling exercise on January twenty seventh
  • Citadel Securities was the one main market maker throughout this time that supplied steady liquidity each minute of each buying and selling day.
  • On January twenty seventh, Citadel Securities executed a unprecedented 7.4 billion shares on behalf of retail traders
  • Ken Griffin and Vlad Tenev have NEVER met or spoken
  • When requested whether or not Citadel Securities requested that Robinhood prohibit buying and selling, Ken Griffin truthfully told Congress “Let me be completely clear. Completely not.”

The leak that has retail traders particularly perturbed appears to have originated from a leaked court document from the US District Courtroom of the Southern District of Florida titled January 2021 Quick Squeeze Buying and selling Litigation. The doc particulars a number of inside conversations on January 27, 2021 that occurred between workers and executives at Robinhood. “Perhaps this may be a great time for me to talk with Ken Griffin,” mentioned Robinhood CEO Vlad Tenev on that fateful day. That very same day, Robinhood President and COO Jim Swartwout is quoted as saying “you would not consider the convo we had with Citadel, whole mess.”

It is essential to notice that at present’s assertion from Citadel Securities doesn’t say that Ken Griffin and Vlad Tenev have by no means exchanged emails, however as an alternative states that they’ve by no means met or spoken. The corporate is doubling down on their CEO’s assertion that Citadel didn’t request Robinhood prohibit buying and selling on GameStop and different meme shares, however it looks as if the 2 corporations had been speaking on January 27, 2021 if these leaks are to believed. The query of collusion stays on the desk, however it does appear attainable that Citadel has repeatedly used language like “didn’t ask” when discussing the purchase order stoppages of that fateful day. This type of authorized language hedging doesn’t imply there was no communication between the businesses, and it could be troublesome to show what was mentioned.

The SEC GameStop (GME) report has but to be issued, and Robinhood’s payment for order flow business model will not be lengthy for this world, however the GME brief squeeze nonetheless sits on the heart of this story. Many traders consider that GameStop’s inventory would have gone a lot increased if not for the purchase order halts issued by many brokers. Attending to the underside of the story for why that occurred is one thing that the denizens of Reddit and the energetic customers on Twitter is not going to surrender on till the reality comes out. 

The prudent factor to do in the meanwhile might be to attend for regulators to challenge their official reviews. Sadly, many traders have a robust mistrust for the entities in command of defending the general public, and it’ll take an unprecedented stage of transparency for these long-awaited reviews to even be trusted. It’s onerous in charge the meme inventory traders for exercising skepticism in a world stuffed with shills, FUD, pretend information, bots, and mainstream media boomers who do not perceive memes.

This text is just meant for instructional functions, and shouldn’t be taken as funding recommendation. Please contemplate your individual funding time horizon, threat tolerance, and seek the advice of with a monetary advisor earlier than performing on this data. | Citadel Securities points response to #KenGriffinLied Twitter development


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