Robinhood and Reddit CEOs testify before House committee: Live updates


After more than five hours of testimony, the hearing has wrapped.

It seems to have been a tough day for Robinhood and Citadel Securities in particular, with lawmakers from both parties aggressively questioning both executives over whether their businesses do more harm than good.

Reddit and Keith Gill, however, got the opposite treatment.

At times, Gill was even directly praised by members of Congress for his success and his initiative. That may ultimately create a powerful narrative boost for him as he faces down a class-action lawsuit alleging that his YouTube videos constituted bad financial advice, a claim Gill refuted calmly and diplomatically by returning to his core talking point: He likes the stock.

Melvin Capital also received some scrutiny, but far less than Robinhood and Citadel. Between CEO Gabriel Plotkin’s bland office backdrop and his rather small size in the video frame, it sometimes appeared as if he were deliberately seeking to blend in with the environment in hopes of being forgotten. If so, it seemed to have worked.



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