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Robinhood CEO Says Trading Limits Will Protect Firm, Customers

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WATCH: Robinhood CEO Tenev discusses why he decided to restrict buying on 13 securities on the platform, and the criticism the platform have endured.(Source: Bloomberg)

Robinhood Markets Chief Executive Officer Vlad Tenev said the firm drew down its credit line and restricted client buying of certain stocks to protect its financial position.

“Look, it is not negotiable for us to comply with our financial requirements and our clearinghouse deposits,” Tenev said Thursday on Bloomberg Television. “We have to do that.”