According to Bloomberg, the chief executive’s residential home has been deemed no longer safe, following violent death threats after he made the call to restrict trading of Gamestop shares on Robinhood last month. Tenev is reportedly being holed up in a hotel for personal safety reasons after the stock trading frenzy.
Redditors and users of the Robinhood trading platform accuse Tenev of unfairly manipulating free-market trading and people are ANGRY!
According to Menlo Park police, feces have been sprawled across Robinhood’s headquarters, while protestors sawed through a statue on the campus.
Institutional investors who attempted to short Gamestop stock have also received death threats, as reported by the Wall Street Journal.
The firm initially stated, amidst market volatility, that it blocked purchases of GameStop shares to “help customers stay informed.” Tenev later admitted that the real reason was due to deposit requirements from clearinghouses registered with the SEC.
After conspiracies of Wall Street’s influence in the decision ran rampant, the chief executive doubled down on this claim, by tweeting, “To be clear, this decision was not made on the direction of any market maker we route to or other market participants.”
Tenev is expected to testify before Congress on Thursday regarding the allegations of market manipulation.