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Robinhood CEO Vlad Tenev denies liquidity issues: CNBC – Business Insider – Business Insider
Tenev told CNBC that Robinhood decided to draw down credit lines “proactively” amid the recent spike in trading volatility.
Robinhood CEO Vlad Tenev shot down speculation on Thursday about the company’s finances, telling CNBC’s Aaron Ross Sorkin “there was no liquidity problem.”
The rumors arose after Bloomberg reported Robinhood had borrowed “at least several hundred million dollars” from banks amid the recent trading frenzy on its platform.
“In terms of the credit lines,” Tenev told CNBC, “that was really a proactive measure.”
“We pulled those credit lines so that we could maximize, within reason, the funds we have…
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