Anonymous ID: e0d2d4 Feb. 1, 2021, 3:30 a.m. No.12788221   🗄️.is 🔗kun

Analysis: GameStop saga may provide early test of Biden administration ethics pledges

 

6 minutes ago (Feb 01, 2021 06:15AM ET)

https://archive.vn/6z58w

https://www.investing.com/news/stock-market-news/analysisgamestop-saga-may-provide-early-test-of-biden-administration-ethics-pledges-2404871

WASHINGTON (Reuters) - Arguably the last thing new U.S. Treasury Secretary Janet Yellen wants to take up during her first days in office is a financial market imbroglio involving one of her last private sector business relationships.

 

But as hedge fund Citadel LLC emerges as one of the key actors in the trading frenzy last week involving GameStop Corp (NYSE:GME) - and questions arise over whether the activity exposes deeper risks for the financial system - Yellen could find herself pulled into the fray.

 

Citadel, together with another fund, extended a $2.75 billion financial lifeline to hedge fund Melvin Capital Management, which had suffered heavy losses by betting against GameStop. Citadel also pays for the right to process Robinhood users' trades, a practice that has drawn some concern from investor advocates.

 

The White House has said Yellen is among a handful of officials monitoring the fracas. As head of the Financial Stability Oversight Council (FSOC), Yellen is broadly responsible for the health of the entire trading and investing system.

 

A sticking point for her to clear, though, may be $700,000 in speaking fees she accepted from Citadel, as recently as last fall. Yellen has pledged not to involve herself in an official capacity in matters involving the firm without first seeking a written waiver from Treasury ethics officials.

,,,

Anonymous ID: e0d2d4 Feb. 1, 2021, 6:01 a.m. No.12788772   🗄️.is 🔗kun

Citadel Silver Holding Exposes Rifts in WallStreetBets Army

By Anna Kitanaka

February 1, 2021, 8:29 AM UTC Updated on February 1, 2021, 1:34 PM UTC

Ken Griffin’s Citadel has once again found itself at the center of a WallStreetBets drama, this time over the firm’s holdings of silver.

The precious metal has become a popular buying target for retail investors keen to inflict losses on hedge funds, after posts on WallStreetBets claimed the market was ripe for a short squeeze. Yet some members of the Reddit forum have responded with pleas to avoid the trade, saying Citadel stands to benefit as a major holder of the largest silver exchange-traded fund.

“CITADEL IS THE 5TH LARGEST OWNER OF SLV,” one WallStreetBets user wrote on Sunday, referring to the iShares trust’s ticker symbol. “IT’S IMPERATIVE WE DO NOT ‘SQUEEZE’ IT.”

https://www.bloomberg.com/news/articles/2021-02-01/citadel-s-silver-bet-exposes-rifts-in-the-wallstreetbets-army?srnd=wealth

https://archive.vn/KrJBk