Hill Report: who wants to talk to Reddit?

CFPB Director Kathleen Kraninger Testifies On Protecting Consumers During Pandemic
Photo by Drew Angerer/Getty Images

Weeks after Reddit community r/WallStreetBets shitposted GameStop stock up to more than $400 a share, the House Financial Services Committee pulled all of the major players in for questioning on Thursday.

The hearing featured:

  • Robinhood CEO Vlad Tenev, whose commission-free brokerage platform made WallStreetBets’ GameStop short squeeze possible — well, until it didn’t, and the app froze all meme trading for hours, angering both the meme traders, lawmakers, and regulators, creating the conditions for our hearing today!
  • Reddit CEO Steve Huffman, who, in his opening remarks, basically just explained what Reddit is, providing a dictionary-style definition of “subreddits” for lawmakers. After that, he didn’t say much else. No one was…

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Author: Makena Kelly