Home » Markets » Texas AG Ken Paxton announces probe into Robinhood, Discord and hedge funds
Texas AG Ken Paxton announces probe into Robinhood, Discord and hedge funds
Robinhood Facebook group moderator: SEC or brokerages likely pressured FB to shut down our group
Haikhuu founder Allen Tran, who moderates the Facebook group ‘Robinhood Stock Traders,’ describes his group getting temporarily ‘disabled’ amid the GameStop stock frenzy.
Texas' top prosecutor said he was launching an investigation into the GameStop market surge Friday, accusing Wall Street "elites" of rigging the markets and corruption.
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"The US econ should be transparent, open," Paxton tweeted Friday afternoon. "This week’s coordinated corruption by a cabal of oligarchs shows it isn’t.”
He added: “I’ll help fix that."
The announcement comes amid a wild month for GameStop shares that saw massive increases in their price as retail investors took on Wall Street short-sellers – with much of the activity taking place on the Robinhood mobile app trading platform.
DISCORD BANS WALLSTREETBETS AMID GAMESTOP SURGE
Discord is a text and voice communication app – which embroiled itself in the market controversy by banning a server dedicated to WallStreetBets, a Reddit forum whose users helped originate the viral GameStop craze.
WallStreetBets has been pitted against hedge fund short-sellers, costing the financial professionals billions of dollars as amateur investors prompted GameStop shares to soar over the past month.