because the majority did not include the eft's -- the ftc, the clearing corporations or the national security clearing corporation, to testify, we are left with what we have. that is because i believe the majority are using this district dish this hearing to drive a narrative of the financial markets being rigged. mr. tenev, you decided to stop allowing your users to buy gamestop and other stock as a result of capital requirements on robinhood securities, is that correct? >> that is correct. deposit requirements with our clearinghouses. >> some of your users could only sell and not buy and that could have contributed to the stock actually not going up as fast because some of your users were prohibited from buying. is it possible that could have happened? >> i shouldn't speculate on what could have happened. >> if there are more sellers than buyers, does the price go down or up? >> robinhood is a minority of trading -- >> i understand. but if your buyers can only sell and not by, then it clearly keeps you from putting upward pressure on the stock prices, is that correct? among your users. >> c

because it didn't include the sec, depository plus clearing corporation or national securities corporation to testify we're left with what we have that is because i believe the majorities attempting to use this hearing to drive a narrative about the u.s. capital markets being rigged but i do have several questions. mr. tenev, you decided to stop allowing your users to buy gamestop and other stocks as a result of capital requirements on robin hood securities, is that correct >> that's correct, yes deposit requirements with our clearing houses. >> and those got resolved but for a period of time some of your users could only sell and not buy and that could have contributed to the stock actually going, not going up as fast because some of your users were prohibited from buying. do you think that is possible that could have happened >> i shouldn't speculate on what could have happened. >> if there are more sellers than buyers does the stock price go down or up? >> to be clear robin hood congressman is a minority of trading activity >> i understand. >> -- in these securities buyerl and not buy,

but because the committee did not include the sec or the national securities clearing corporation testified, we are left with what we have. i believe that for the majority's attempting to use this hearing drive a narrative on the capital markets being rigged. you decided to stop allowing your users to buy gamestop and other stock as a result of capital requirements. is that correct? >> that is correct. deposit requirements with our clearing requirements. >> for a time some of your users only sell and not by. that contributed to the stock not going up as fast because some of your users contributed to by the. -- to buyers. >> i can't comment. >> if there are more sellers than buyers, does the stock go up? >> robin hood is a minority trading securities. -- in trading securities. >> i understand, but if your sellers can only sell and not by, it prevents you from putting pressure. >> [indiscernible] >> i know some have said earlier i want you to be clear. if your users were harmed as a result of those actions, they can recover through arbitration. is that correct? >> correct. our arbitration has

but because the committee did not include the sec or the national securities clearing corporation testified, we are left with what we have. i believe that for the majority's attempting to use this hearing drive a narrative on the capital markets being rigged. you decided to stop allowing your users to buy gamestop and other stock as a result of capital requirements. is that correct? >> that is correct. deposit requirements with our clearing requirements. >> for a time some of your users only sell and not by. that contributed to the stock not going up as fast because some of your users contributed to by the. -- to buyers. >> i can't comment. >> if there are more sellers than buyers, does the stock go up? >> robin hood is a minority trading securities. -- in trading securities. >> i understand, but if your sellers can only sell and not by, it prevents you from putting pressure. >> [indiscernible] >> i know some have said earlier i want you to be clear. if your users were harmed as a result of those actions, they can recover through arbitration. is that correct? >> correct. our arbitration has