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By Reuters Staff 2 Min Read (Reuters) - Apex Clearing Corp, a clearing firm and a custodian for digital assets, said on Monday it will go public through a merger with a blank-check firm backed by New York Islanders co-owner Jon Ledecky, in a deal that values the combined entity at $4.7 billion. The deal with Northern Star Investment Corp II is expected to fetch Apex $850 million in gross cash proceeds, including a private investment of $450 million anchored by Fidelity Management & Research Company LLC and Baron Capital Group. Apex is a financial technology firm that provides clearing service...

Analysis: Robinhood CEO's U.S. lawmaker grilling spotlights broker's hidden risks Michelle Price , By Michelle Price and Anna Irrera WASHINGTON (Reuters) - Robinhood CEO Vlad Tenev told a congressional hearing that his decision to curb buying in some stocks such as GameStop Corp during a period of extreme volatility was unavoidable, but industry experts said it only underscored the risks the popular trading app was willing to accept to expand its market share. Robinhood's Jan. 28 restrictions on buying GameStop and other stocks that hedge funds had bet ag...

Robinhood Blocked GameStop Buys After Clearinghouse Threatened $2.2 Billion Charge, CEO Says Online stock trading platform Robinhood made the decision to ban its users from buying certain stocks last month after the company that clears stock transactions imposed a $2.2 billion special charge on Robinhood. After the ban, the clearinghouse lifted the charge. Robinhood was popular among the small investors who organized online to buy the stock of GameStop, a struggling computer game retailer. The run was partly motivated by a belief that hedge funds that borrowed and short-sold the stock would b...

WASHINGTON: Robinhood CEO Vlad Tenev told a congressional hearing that his decision to curb buying in some stocks such as GameStop Corp during a period of extreme volatility was unavoidable, but industry experts said it only underscored the risks the popular trading app was willing to accept to expand its market share. Robinhood's Jan. 28 restrictions on buying GameStop and other stocks that hedge funds had bet against drew the ire of its customers and US lawmakers. They accused it of doing Wall Street's bidding by shielding the hedge funds from an army of amateur traders banding together on ...

REUTERS/Lucy Nicholson This story is available exclusively to Insider subscribers. Become an Insider and start reading now. Thursday's hearing on GameStop's market frenzy will be a rare time when hedge fund's biggest names speak publicly. Citadel founder Ken Griffin and Melvin Capital founder Gabe Plotkin are both slated to testify. In a rare twist, a major hedge fund founder, Plotkin, was hurt by the market moves.  The men — and it's almost always men — who run hedge funds don't speak publicly, and they definitely don't l...