Musk Agrees Robinhood Is A Dogecoin Whale As Gamestop Hearing Starts

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Last Updated on 23 March 2021 by CryptoTips.eu

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Robinhood, the popular app that allows US customers to trade without a fee, is in the middle of a political storm as the US Congress starts a hearing today on the whole Gamestop debacle.

You may remember that a bunch of Redditors grouped together on the WallStreetsBets platform took on Wall Street Hedge funds in January and drove the price of shares such as GameStop up to unknown heights before the trading app decided to only let customers sell those stocks for a period, and not buy them anymore.

Popular members of congress on both sides of the political aisle, such as AOC (Alexandria Ocasio-Cortez) for the Democrats and Ted Cruz (Texas Senator) for the Republicans, have vowed to investigate what happened.

Vlad Tenev, the CEO of Robinhood, has pointed to going off Twitter for a while as he posted a screenshot from the movie Mr Smith Goes to Washington.

Advertentie.

Dogecoin whale

At the same time that Reddit’s crypto forums are heavily discussing the GameStop saga (a CNBC analyst admitted yesterday that without the Robinhood stop GameStop stock would have probably surged to thousands of dollars). It was announced that Robinhood is probably holding a majority of Dogecoin crypto.

Several social media posts warned that Robinhood did not allow selling or buying of the popular memecoin, trying to control the Dogecoin price apparently.

Elon Musk, CEO of Tesla, invited any Dogecoin whale to sell most of their coins in order to make the coin accessible for everyone and democratize the price. He agreed with social media commenters that Robinhood probably held a large portion of the popular cryptocoin.

It almost certainly belongs to Robinhood,

Said Tom Robinson, co-founder of Elliptic.

The timings of its creation, and the creation of the addresses that it received funds from, match the timings of Robinhood’s support of Dogecoin.

winst2014 / Depositphotos.com