Robinhood CEO Says Company’s External Clearinghouse Partner Demanded $3 Billion In Collateral To Back Meme Stock.
Talking to @elonmusk on Clubhouse right now, Robinhood CEO @vladtenev says the company’s external clearinghouse partner, using a complicated formula tied to volatility, demanded it post $3 billion in collateral to back meme stock margin trades last Thursday.
— Alex Heath (@alexeheath) February 1, 2021