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Citadel ceo ken griffin defends melvin stake against ‘an
When they testify to Congress on Thursday about the GameStop saga, Ken Griffin of Citadel Securities and Vlad Tenev of Robinhood will both ask for a reduction in the time it takes to settle stock trades. Griffin, whose market-making company was on the receiving end of millions of GameStop trades, wants the settlement period reduced to one day. Tenev will reiterate his demand for an instantaneous device. According to testimony released ahead of the trial, both executives would argue that the new two-day settlement period exposes buyers and sellers to needless risk. “Longer settlement times, as we’ve seen, expose companies to more risk in the time between execution and settlement, necessitating higher capital levels,” Griffin would claim. “From T+2 [days] to T+1 [day], settlement periods should be reduced.”
Griffin and Tenev are among a group of executives summoned to testify before the House Committee on Financial Services, which also includes Reddit CEO Steve Huffman, Melvin Capital hedge fund CEO Gabe Plotkin, and Reddit day trader Keith Gill, aka Roaring Kitty.
The committee is looking into the GameStop situation, in which amateur investors drove up the stock of the video game store by as much as 1,000 percent, causing hedge funds to lose money.
The decision by famous trading app Robinhood to temporarily restrict buying of GameStop and other popular stocks like cinema chain AMC will be a key focus. Day traders were furious about the decision. Tenev has claimed – and will argue again in front of the House – that the wild market turmoil put a lot of pressure on the settlement mechanism, causing Robinhood to restrict trading. Some Reddit users on the Wall Street Bets forum accused Citadel of threatening Robinhood to stop trading at the time.
Citadel ceo ken griffin on seeking out talent with
2019 (Senior): All-NSIC Honorable Mention… On Oct. 21, he was named NSIC Defensive Player of the Week… played in each of the 12 games… intercepted four passes for a total of 77 yards… Six pass breakups are attributed to him… At MSU Moorhead (Oct. 19), he had two interceptions and counted return yards… Augustana’s 77 return yards against MSU Moorhead rank fourth all-time in a single game… In the Key to the City victory over Sioux Falls (Sept. 26), he forced a fumble… With.33 interceptions per game, ranked fifth in the NSIC… Augustana finished fourth in the country in scoring safety… With a total of 19 team interceptions, he helped the Vikings rank 10th in the nation.
2017 (Freshman): Played for head coach Tim Byrnes at Fullerton College in Fullerton, California…helped guide the Hornets to a 13-0 record and state titles in the California Community College Athletic Association. …made more than 20 tackles, three interceptions, and two touchdowns as a defensive back for the Hornets.
Citadel ceo ken griffin: we receive no personal identifying
The Wall Street billionaire pushed back on Friday on the possibility that he was playing both sides of the messy short squeeze, following his testimony on Capitol Hill on Thursday about last month’s surprise spike in shares of GameStop and AMC Entertainment.
Although his securities firm was charged with executing many of the GameStop trades on Robinhood that were pressuring the crippled hedge fund, some Reddit-fueled retail investors have accused his hedge fund of moving to invest $2 billion in Melvin Capital — a high-profile hedge fund whose bets against GameStop shares they had threatened — some Reddit-fueled retail investors have accused his hedge fund of moving to invest $2 billion in Melvin Capital — a high-profile
Griffin’s fund was allegedly involved in Robinhood’s decision to limit users’ ability to purchase GameStop shares, and that he was conspiring to block retail investors in order to protect Melvin and its creator, Citadel alum Gabe Plotkin.
Griffin curtly retorted, “No, I think Gabe Plotkin is one of the finest investors of his generation,” when asked if his investment in Melvin at the height of the short squeeze was a mistake.
Citadel ceo ken griffin on whether the markets are fair to
Kenneth Cordele “Ken” Griffin is an American hedge fund founder, entrepreneur, and investor who was born on October 15, 1968. Citadel LLC, of which he is the chairman, CEO, Co-Chief Investment Officer, and 85 percent owner, had $38 billion in assets under management as of March 2021.  In the United States, Citadel Securities, a market maker, manages 40% of all stock transactions. [number six] [nine]
Griffin has an approximate net worth of either US$16 billion or US$22.4 billion, making him the second richest person in Illinois and the 45th richest person in America. He is frequently one of the top paying hedge fund managers, earning in excess of $1 billion per year.
Griffin, the son of a building supplies executive, was born in 1968 in Daytona Beach, Florida.
Griffin’s father worked for General Electric as a project manager.
Genevieve Huebsch Gratz, Griffin’s grandmother, inherited an oil company, three farms, and a seed company.
Griffin was born in Boca Raton, Florida, and spent his childhood in Texas and Wisconsin.
 He attended Boca Raton Middle School.
 He then attended Boca Raton Community High School, where he was the math club president.
Griffin owned a discount mail-order education software company called EDCOM out of his bedroom in high school.
 According to a 1986 Sun-Sentinel report, Griffin predicts he will become a businessman or lawyer, and that the work market for computer programmers will decline dramatically over the next decade.