you think that's also taking a toll on robin hood as well? you know, there's a, an argument, a few months ago that as more and more people go into the office because of delta be largely over that you'd have less people actually treating crypto, curtis and less retail and less mean treating all that. i think we're starting to see some of the elements of that. again, it's a little curious me, if a large part of your revenues being driven by the fickle crowd, you're going to very fickle revenue. so everything lines up with this narrative that a lot of people staying at home, we're bored. so what do they do? they went to the casino and the casino happened to have access through their the robins. and now chris, they want to bring you obviously into this conversation. why are you seeing the difference between what we thought maybe in the 2nd quarter and 3rd quarter for robin hood? do you agree with michael at all? well yeah, there was a huge surge of crypto training the 2nd quarter versus the 3rd quarter. and that was pretty much because of 2 thing

i mean that can change the entire landscape for robin hood. most of the earnings, most of the revenue shows the site it coming from 2 major business areas. number one is auctions, trading, which is completely synthetic and trading. and secondly, crypto. we know that these 2 areas are going to the immense regulatory pressure in the common courses. same thing, and this is just maybe for view as as familiar with with robin hood. do you think they are succeeding in that stated aim of democratizing finance? it kind of reminds me of google and it's early years where the phrase was, don't be eco, and some would say that they are maybe not living up to that anymore. what about democratizing finance? i think they have done that quite well. because now every single person on the street can really get access to it company very easily without having a big set of fair walls to climb through. in order to to have that. remember back in days, the mini mom accountable me requirement is about $25000.00 to do to if you want to come the day trade. in addition to

so robin hood can actually control this. it's completely dependent on the clary houses and clearing houses. they just set requirements that fluctuate daily based on volatility in the market. so if we have another flurry of this mean trading, this could actually happen again. and as a result of setting these trading limits on those names, robin hood based a lot of backlash from outreach customers who lost their money, threatened to leave the app, threatened to sue litigation, etc. that also received us congressional inquiries and investigations, negative media tedra, all of which caused reputational harm to the name and what poses the risk in the future as a publicly listed company to affect the price of stock. yeah, and it's interesting to see the fact that robin hood is now admitting that this could happen again. it's just all up to those read it users who decide to come together. now ben, this is a sentence that would not make any sense if you heard it before this year. but robin hood has also listed don't coin as a risk f

it is no surprise to hear that robin hood's i. p. o is raising questions about the power of mean stocks to disrupt financial markets. robin hood, which claims that as democratizing finance has found us solve, caught in the middle of mean stock traders and the fcc now and it's i p o filing robin hood says it cannot assure investors that mean mania like game stop or am see won't hit again. so joining in out of those jobs are boom bus, co host benson and christy i. christy, let's start with you here. now in an i p o filing companies have to list specific risk factors for investors. why would robin hood claim that means stocks are a risk factor while it's not exactly the mean talk that are the risk factor if the trading frenzy that comes with that because it's a big risk. and that's because robin hood like all brokerages, they depend on query houses to clear their trades and execute climes trade. and these clearing houses have certain capital requirements that are raised, strained, curious, of increased and heightened volatility. so that

and that's robin hood's crutch that they rely on. a lot of traders, not long term traders and hardly so one big coin didn't do anything for a couple months and just kind of flopped around the 38000 support line. people lost a lot of interest. and then of course, as a 2nd reason, which was the death of those coin. as michael just mentioned, a huge portion of robin hood's revenue came from crypto training, specifically don't coin. and i think all of you know, my feelings on those klein are ready, but those coin had been responsible for about 62 percent of crypto transaction revenue. robin hood in the 2nd quarter, but it has proven itself to be a one time gag token as now. volumes are down about 75 percent. so while there are a ton of great all coins out there that are actually doing spectacularly, it kind of blows my mind why robin hood wants to bet on and actually feed into this retail frenzy by listing such an unreliable and dumb coin and ignore i. some the real projects out there. when i know something we've talked about a lot, righ

robin hood in the 2nd quarter. but it has proven itself to be a one time gag token as now. volumes are down about 75 percent. so while there are a ton of great all coins out there that are actually doing spectacularly, it kind of blows my mind why robin hood wants to bet on and actually feed into this retail frenzy by listing such an unreliable and dom coin and ignore i. some the real projects out there. when i know something we've talked about a lot, right? if you're getting in and you're making money, then life is great until it starts falling. and then all of a sudden you're losing money. so it'll really be interesting to see how robin hood moved forward with that. and if they continue to really focus on some of those mean point. now michael, i want to shift a little bit. i know that when we're talking about really just crypto currencies in general, a lot of those mainstream currencies are facing a tough road and have a tough road in recent days. but at the same time, we've also got j. p. morgan revealing that s

robin hood did impose more restrictions on these securities this friday than how is robin hood going to shake out after all of this ok so a couple predictions for you know what i absolutely believe robin hood has done i mean as far as retail investors why would why would anyone even go there why would you use this platform ever again it's already proven itself to be a complete set up for wall street. but there's also been a couple of articles that have come out in the last couple of days which are pretty fascinating and what they're saying is that robin hood was never set up in a way to make money off of those retail investors and what they actually are doing is they're selling the data of the retail investors back to wall street firms and those wall street firms are then acting based upon the data of what's happening on the retail side if that is the case it also explains why on thursday evening robert who was able to get a 1000000000 dollar investment from some of its existing investors to help prop it up the truth is i think the they always been torn this isn't robin hood it's the

associated with robin hood holds a large equity stake in dough. and that goes back to the wall street journal. back in february, they did some reporting that that time that indicated that about 20 percent of all those coin and circulation belong to one person or one entity about 30 percent of them. and very possibly that there may be a connection to robin hood itself that we don't know that. but here is what is a significant point here, is that the ceo of robin hood says, this is not true and that the company itself holds no major stake in any of the coin they trade. well, volunteer volatility of coin thing should not necessarily be bad for your business model unless you say, well people are buying them through us and therefore if they get hurt, that will reflect badly on us. but the thing is robin has a platform for stocks and it's a platform for crypto. so the idea of crypto go with up or down, or stocks going up and down would have a large detrimental impact on the platform. i think it's highly unlikely. yeah. and it is notable to see that we'r

well read it or initially did ignore robin hood because of the fact that robin hood was the reason that they got burned previously when they restricted the trading of names like amc and games talked about it absolutely furious because they thought that games are that robin hood was actually working hand in hand in tandem with other big wall street names like citadel and screwing out the little guys that they propose to, to that purported to support. so rather than actually quite furious with robin hood and it really wasn't until yesterday, after kathy woods came out and said that, hey, this is, this is great. we have a very high price target. we're going to be acquiring a big chunk of position. so ready to basically solve this as an opportunity to ride the wave up as well as renters also saw the fact that literally it was the 1st day of options training. it was a very easy way for them to spark a rally spark a squeeze. and as you know, this is the game that retail traders like to play. they play short squeezes, they play gamma squeezes, they play delta squeezes, very obvious, technical

from hedge fund managers to the chief executives of reddit and to robin hoyt u.s. lawmakers grilled the parties involved in game stops recent wild drives trading spectacle also coming up commodity prices. is this super cycle we talk to an analyst and the aviation sector is facing 2 major challenges the pandemic and climate change we'll show you how innovations in biofuel could make aviation more sustainable. welcome to do that the business i want to johnsonville end good to have you with us in the united states the c.e.o.'s of reddit and robin hood as well as some big name hedge fund managers have been facing a grilling from lawmakers over the recent wilde's trade in game stop. game stop stock in the companies surged 1600 percent in general before plummeting again all the volatility was driven by small scale retail investors getting together on online platforms reddit and robinhood to target shares professional investors were betting against until the online broker put a stop to the buying frenzy. retail investors took to the streets in january they would have kept

if you compare that to robin hood, they have 18000000. so in terms of the whole trends, you just talked about retail investors getting more and more involved in the market . a power certainly opens up another door. now it's going to take a while for that to happen. as you've mentioned already into the crypto space, there's talk that perhaps they'll find some kind of a partner as a broker dealer. but overall, right now, if you just look at the stock itself, it's interesting because you mentioned it's sold off a little bit. but it actually is holding very team moving average here are the 50 day moving average. you have an opportunity if you believe that this could be a real profit for them as it was, let's say for robin hood, when you have a situation where you have about a $10.00 risk and it should send the stock off. now we will tell you though, it does, it will take time. it's not going to happen overnight. wow. so pay pal is seeing all of the success that has been had with retail trading and they're trying to get a piece of the pie ther

and in other news, robin hood is facing everything from federal, fine to criticism and read it as it files you go public. we'll discuss how all the pressures fans impact the popular app moving forward. and later trade between the you can, you is picking up the fight post wreck, the concert. we'll go over the numbers and see whether the trend will laugh. we have a tax, so today. so let's dive right in we leave the program with by dance, the company behind social media giant tick tock, shelving its plans for an ip mid scrutiny in china. beijing based social media giant last valued at $180000000000.00 in a funding ground in december, had been weighing an initial public offering of all or some of his businesses in the us or hong kong. instead, the companies found or decided that it would be better to wait. joining us out, discuss harpooned by co host, spend swan. christy. i ben, i'm going to start with a big question. why is bite dance, making this move to pull back these plans? yeah, i think there's a couple of big reason for the biggest is that china has this regulator that's essential

there's that made it famous thing the world should ignore the robin hood i p o altogether. so what will this mean for the future of the newly public company? joining us now, this guy is michelle snyder, partner and director of training research and education for the market gauge group . now michelle robin hood was just fine $70000000.00 by wall street self regulator for widespread and significant harm to the users. the company is also under scrutiny from the c c over the practices that generate most of its revenue. so how do investors see all of this pressure right now? well, we can add to that by the way, the $12600000.00 they had to pay in restitution. what i like to call the list of their crimes and misdemeanors. for example, false margin information, erroneous margin calls inaccurate account balances, inaccurate options, trading risk mean stocks. they couldn't keep up with the volume. and we had that unfortunate incident where that 20 year old kid committed suicide because he thought he owed a lot more money, which really goes down to i think their biggest issue, which

he and his subscribers have deserted robin hood over those controversies. i think that robin hood has more inexperienced traitors, and therefore, as a proportion encourages riskier trading without the full disclosure of the responsibility. when you have that many inexperienced anderson, robin hood, his racing increased scrutiny from regulators and lawmakers, but with a view on the nasdaq stock exchange, it will now have the money to fight back 6 years. cattle have al jazeera on washington for the mission. ah, this is al jazeera and these are the headlines the philippines has restored a key.

it's sitting and robin hood's wallet. and so if the government decides that you're not paying enough taxes, or that if you're skirting something they don't like or that if you're involved in some kind of illegal transaction, they can simply take the money out of your account because it's not your account. it's robin hood's wallet, and so i would just say it as a warning kind of a closing warning here. if you believe in crypto currency, you want to be involved in it, do not make a coin base or a robin hood your primary wallet because it's not yours, it is theirs. and they can do anything they want with the currency inside of it. great information, as always we consider bern bus, bent on and christy. i. thank you both. thank you. and that's it for the time you can catch boom by on demand on the portable tv app available on smartphones and tablets through google play in the apple app store. by searching portable tv, portable tv can also be downloaded on samsung, smart tv, and roku devices, or simply check it out portable dot

so where does robin hood make money? first of all, they have interest on their, on investing cash. so in other words, if you don't actually invest the money, they will charge you interest on that. or you also have a subscription service called gold service. they get $5.00 a month on that one from their people and they have $30000000.00 subscribers. but their biggest way that they make money is selling order flow, and that's where a lot of the rhetoric people are extremely upset about. because in essence what they're doing is they're selling your order flow to institutions, which then of course, can jump ahead those trays. so if you put that all together, we have to continue to see where it's going to monetize from number one. obviously it can can itself into too much more trouble at this point. and also just the whole trend of the trading has to continue, which means the market has to face all them if we get any kind of shift in how people are investing, that could be trouble for them. so that's really the bottom line. they had the 0 commission everybody's doing and now it's more c

robin feresi walker reports now from the city of ra, starving. michael sack actually considered by many to be george's most maverick and divisive politician, is being held at rous debby prison. he calls himself a political prisoner and has been on hunger strike since being detained. 2 weeks ago, it's really been his lawyers say his health is deteriorating. he has problems with a more meant his more ring. ah, a little before were i and this is of the situation is worsening. or every day it will be almost helmet with vulgar. some of its chamber to me that early this month, seconds really reappeared in georgia after 8 years in exile. i'm calling on a georgians to take to the streets and reject the current government. he's alleged to have taken a ferry from ukraine, hidden inside a truck carrying dairy products. eventually he was arrested for convictions in absentia of abuses of power in office. the government says sac ashville hunger strike is political theater. ahead of 2nd round marrow elections at the end of the month. i so suki left the circus a

the surge in trading drove game stop value up by more than $10000000000.00 on wednesday alone robin hood has temporarily impose restrictions on buying the stock we absolutely did not do this in the direction of the market maker or hedge fund or anyone we were out to or other market participants so we're really unprecedented. in order to protect the firm and protect our customers we had a few limited buying in these stocks investors are angry that robin hood also blocked trades in companies such as amc black berry and nokia which were rising because of the chat group you know when the big man when the quote unquote suits don't get their way they start losing they just shut down the game and change the rules i think it's extremely unfair and as he's put in place to protect the little man from things like this happening so hopefully you know regulators and politicians are taking a strong look at this and they get down to the bottom of it well u.s. politicians and regulators are taking notice republican ted cruz tweeted support for democrat alexandria ocasio cortez's call for an investigatio

it was why i just got a live robin robin was a friend in the robin. the said one of the comedy routines that living in america in canada is i live in an apartment above a mess lab. but you know, you know, it is, it is funny for us in, in canada, i think, or at any social democracy. my don't get me wrong. i love the united states. don't forget. i chose to become american citizen as well. i married an american, i kids are americans. my father in law was almost us president. my brother in law was a us senator my, my son in laws serving on active duty in, in the navy right now in united states. my, my nephew was machine gunner grunt in the marines and ask aniston so it's not like i feel disconnected or in any way cynical about ignited states. my life was made possible by the united states in the years that i spent at harvard, you know, this was an incredible gift to me as a foreigner. so don't get me wrong. no one is, is less interested in the demise of america than i am. and believe me, when china, if it is indeed ascendant with its ethnic policy, it's d

let's go straight to our correspondent, robin forshie walker, who's in tbilisi for us. robin, tell us more about the arrests of suckers fairly. presumably he knew there was a chance. this was going to happen again. unfortunately we have lost our correspondent robin as we hope to return to that story. in the following, our people living in a small colombian town say, an influx of mostly haitian refugees and migrants is pushing them out of housing. the migrants are trying to catch boats on their way north to the united states. alexander, i'm here to reports now from the town of nic, hopefully, after weeks stuck in this beach down a few 100 migrants, mostly haitians are finally able to continue their journey north. little while others scouting to scramble for a fairy ticket despite being told they're sold out until the end of october. and that's because neighboring panama is only allowing $500.00 to enter the country each day. there's a mighty st juice in his family among the lucky ones who are finally able to leave after a 45 day weight. i was like, yeah, a couple of whis

robin hood had a stash furious -- furious. robin hood had an issue like this in the past. they want an ipo this year. it is a crucial time for them, and they are losing customers left and right who are really angry, not to mention more regulation might come into the fore. i've been speaking to a lot, and they are resigned to the fact they think regulators are going to come in, do things like raise margin requirements for traders trading with derivatives. they see that there will be a permanent change to the industry in reaction to what's going on because in their mind, they think regulators are going to view us as a casino, as an arcade, when we are selling really sophisticated products that are well priced. but i think that the risk that regulators see happening right now, they're going to take action, and that could have a lasting impact. matt: all right, you definitely have to be ready for these issues, i think, before you open a business and put customers in this kind of situation. we'll see how this turns out for robin hood. certainly online, they're pretty unpopular

hood to do exactly the opposite of what robin hood being a little legend would do which is it take from the rich and give to the poor they say they are siding with the the big guys on this nephew areas about it but it's not just you know uses of apps like robin hood that i rang green as well we've got politicians in the night. states from both sides rip democrats and republicans saying that what the apps have done is unacceptable because while these small fry traders have been prevented from trading in stocks of the likes of game stop major traders hedge funds have been able to continue because they have the liquidity not because they have the liquidity but because they're not relying on these apps functioning and allowing them to sell into their own brokers would have the liquidity but it's just the fact that these small traders rely on these maps to actually carry out the transactions very briefly what's what's next in this saga well so we're going to see where the stock goes when the likes of robin hood do start to allow trading again on this whether they go up whether they go down w

so robin to you. this was kind of like a, okay, we're taking that now, but we're going to put it back in. so how confident are you that we've added back in and is it this kind of, this kind of manipulation. the reason why people don't like politics. i hate this sort of manipulation. we need transparency. you know, it's often said that sunlight is the best just to factor and that is true. we need sunlight on this and look i, i, it hurts my soul to hear the comments said that the left is anti semitic. i don't see that to be true in my daily life. i've been involved in clinic politics. so it's 18 years old. i'm 46 now, so that's a long time. but look, when we're, when we're discussing this and we're discussing, raising the national debt ceiling, i just want to say, like i just said, i've got 2 small children where $28.00 trillion dollars in debt. that's $80000.00 per person, scotty. so you know, i would like to see more democrats talking about that. well, and of course, i mean it's very important to all

go for it, robin- — hear you but... go for it, robin. let's _ hear you but... go for it, robin. let's address - hear you but... go for it, robin. let's address two | hear you but... go for it, i robin. let's address two of hear you but... go for it, - robin. let's address two of the issues there. _ robin. let's address two of the issues there. yeah, _ robin. let's address two of the issues there. yeah, sorry - robin. let's address two of the | issues there. yeah, sorry about that. we issues there. yeah, sorry about that we are — issues there. yeah, sorry about that. we are getting _ issues there. yeah, sorry about that. we are getting a - issues there. yeah, sorry about that. we are getting a few- that. we are getting a few technical difficulties. we'll try to get robin back to talk to us about the breaking news in japan and to us about the breaking news injapan and the story in xinjiang. at least thirty people have been killed when a packed ferry caught fire in southern bangladesh. it happened in the early morning near the town othalakati. the ferry had sailed from capital dh

i'm joined now by culture reporter robin merrill robin you've had dealings with a lot of the royals have you met prince philip personally. i actually use one of the few i didn't meet personally but on the other hand he has heard me my singing voice unfortunately because i used to be in and played for a lot of royal occasions and he was near the number of. people who did meet him and say he was actually very easy to deal with he didn't suffer fools gladly but he always had something to say to people that eat which which helps a great deal and i think it's been mentioned a lot but 73 years as a prince consul it is extraordinary it's an impossible job and indeed very difficult for what who man who was a very masculine man if you like be very old school but he did have this juice service that was only supposed by the queen. there now you mentioned that being old school they have a difficult what do you make of him as a man. like tonight she was a very divisive character and amusing withering curable sense of humor and in this age of political correctness he was of course famous for some of h

robin hood was accused of getting uses misleading information about their accounts . it must also pay restitution to uses affected by system outages. in march 2020 amazon has formerly asked for us anti trust chief lena con, to step aside from investigations into the e commerce giant con has been a vocal critic of amazon and other us tech firms within at confirmed to appointment as chair woman of the federal trade commission, this month's celebrity investments, encrypt currency has sent value of bit coin and co, soaring and raise their profile mining or making big coins is an enticing prospect in a country like argentine or where the national currency is depreciating rapidly, but there are risk attached people like argentinian alejandro are hard to trace. he's afraid of the tax authorities. he's one of many who mines crypto currency from home lupins. i'm going to go more know any, but we'll get a good investment in argentina because argentina's peso is so weak. you can't get many dollars for it. and you often have to pay for things and dollars. but we have subsidized e

lost 30 percent yesterday basically for 2 reasons reason number one is that trading platforms like robin hood continue to restrict trading with game stop shares they consider it to be too risky for their customers but also too risky for that for themselves for their operations reason number 2 is the original bet you know to create a huge short squeeze here or in other words to cause a lot of trouble to those large hedge funds who had speculated on affording share price of game stop this speculation has come to its limits of course the hedge funds have lost a lot of money they eventually understood what was going on and they eventually managed to reduce a lot of their risky positions so the bet on the short squeeze doesn't work the way it has at the beginning of all this. show. yesterday is the wind coming out of the sails of this particular storm. with this particular storm game stop probably yes but there are other you know shares who have gotten in the focus of investors for example german companies like the battery may call the biotech firm ever tech silver has gotten in the focus of

robin: the opening up by the u.k. government was terrific from the data we saw announced, we saw daily new bookings triple between jfk and heathrow. so that was great. as a u.s.-based carrier, much of what we sell is going to be in the u.s. come is that was great for jetblue. the u.s. government should open a. there's not -- should open up. there's no reason not to. you can fly from countries that have much higher covid infection rates, but you can't come from countries in europe where infection rates are much lower. that is not a risk based approach. when it is going to open up, i couldn't tell you. it is something we continue a dialogue on with the administration. kailey: by christmas -- guy: by christmas? robin: hopefully even sooner than that, but i don't really know. it is really hard to predict how they are thinking about it. guy: you have flown here on a narrowbody aircraft. normally you fly across the atlantic on a wide-body. you are fighting the a3 one ne-yo -- a320 neo lr. in the winter, with headwinds, is t