Karla, editor of the business newsletter Contention, told Motherboard. Citadel loaned $2.75 billion to Melvin before Melvin liquidated over GME. And while Robinhood made a not-too-shabby $247 million in 2020 from just selling access to your retail stock orders to such non-directed orderflow venue as Citadel, Vitru, Wolverine, Two Sigma, G1X, Morgan Stanley and others, it is the sale of option orderflow that has emerged as Robinhood’s golden goose, having generated an impressive $440 million in revenue in 2020. Robinhood users thought the service was accountable to them, but actually it exists to serve giant Wall Street institutions like Citadel and other market makers,” J.E. Robinhood's entire business is built on selling its customers’ orders to trading titans like Citadel Securities. Robinhood’s revenues from equities and options order flow came to $91m for the period, with $39m from Citadel Securities. Surely there can be no conflict of interest here, especially when it comes to protecting Robinhood traders. Nothing to do w/ unwanted attention from politicians and regulators? Robinhood Securities LLC - Held NMS Stocks and Options Order Routing Public Report Generated on Mon Jan 25 2021 11:07:12 GMT-0500 (Eastern Standard Time) 4th Quarter, 2020 October 2020 S&P 500 Stocks Summary Non-Directed Orders as % of All Orders Market Orders as % of Non-Directed Orders Marketable Limit Orders as % of Non-Directed Orders Non-Marketable Limit Orders as % of Non … This week, Robinhood prevented customers from purchasing GME shares. In 2020, Citadel accounted for over 50% of online broker Robinhood's revenue. Citadel is an investor in funds betting against GME share price. Robinhood Securities LLC - Held NMS Stocks and Options Order Routing Public Report Generated on ! Maybe Citadel's updated their position but I think it's still shorter-term bearish. 3rd Quarter, 2020 July 2020 S&P 500 Stocks Summary Non-Directed Orders as % of All Orders Market Orders as % of Non-Directed Orders Marketable Limit Orders as % of Non-Directed Orders Non-Marketable Limit [OC] https://edition.cnn.com/.../wall-street-robinhood-citadel-iex/index.html — Tyler Winklevoss (@tyler) January 28, 2021 In a letter to the Department of Justice, Representative Paul Gosar said that he was “greatly troubled with the events that have unfolded on Wall Street,” and is demanding action from them. GME has caused Citadel tremendous risks/losses. Citadel paid $88 million to Robinhood in Q3 2020 for "order flow", making up nearly half of Robinhood's revenue. The startup, valued at $5.6 billion, was bringing in more than 40 percent of its revenue earlier this year from selling its customers’ orders to high-frequency trading firms, or market makers, like Citadel Securities and Two Sigma Securities, according to three people with knowledge of the matter, who asked not to be identified because the details are private. “They will suicide bomb their own business models to protect the real powers from the consequences of their internal contradictions. https://blockworks.co/robinhood-sells-your-data-but-does-that-matter https://wealthpress.com/robinhood-blocking-stocks-amc-gme-citadel Citadel is also Robinhood's biggest customer. An excellent [article by ZeroHedge] shows the coordination between Robinhood and its real customers: HFTs (High Frequency Traders) and other market makers. 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