'People demand answers': Elon Musk grills Robinhood CEO over GameStop stock drama

On a Clubhouse live discussion on February 1, Tesla's CEO Elon Musk who turned into an interviewer grilled Robinhood’s chief executive Vl Tenev over freezing GME stocks buying last week. US video game retailer came under fire after a Reddit group of online trers, WallStreetBets, launched mass stock tring, impacting US hedge funds, as it blocked GME shares from buyers. However, co-founder of Robinhood defended decision to restrict tring in GameStop and or volatile stocks.

Taking a dig at smartphone app's boss, X CEO and billionaire Elon Musk launched daring questions at Tenev in a 90-minute interview on audio chat app. Musk told Tenev: "Spill beans, man". He introduced Robinhood's CEO as "Vl stock impaler” on show. 

"What happened last week? Why couldn't people buy GameStop shares? people demand answers, and y want to kw truth," said Musk. Musk asked in his vocal debut on invite-only and iOS-only Silicon Valley’s startup app, after inviting Vl Tenev onboard to interview him about Wall Street Bets debacle. In Clubhouse room with more than 5,000 participants, Musk held a live discussion about Tesla and Neuralinks, following which he stirred excitement saying: "Do you want to hear real story from Vl [from] Robinhood about what happened on Street with GameStop?". 

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Question on Reddit's targeted Wall Street hedge

As Tenev appeared on chat, Musk fired up questions, asking why Robinhood's boss decided to put limits on customers’ tring on GME stocks and eventually sold shares without tice. GameStop’s shares last week shot 1,600 per cent in a month after a bunch of inexperienced trers on Reddit's targeted Wall Street hedge funds resulting in millions of dollars of loss for some investors. US House Democrats, meanwhile, pledged to probe Robinhood CEO over online stock-tring chaos. Meanwhile, in a blog post, company dressed concerns saying, "We’ve received questions about how Robinhood works, tring, clearing and settlement, and clearinghouses".

In a column titled 'What happened this week?' firm explained incident. "It was t because we wanted to stop people from buying se stocks. We did this because required amount we h to deposit with clearinghouse was so large," re column. Furrmore, gaming company continued, "With individual volatile securities accounting for hundreds of millions of dollars in deposit requirements—that we h to take steps to limit buying in those volatile securities to ensure we could comfortably meet our requirements".

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