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“At 3 a.m. on Thursday, Tenev said that Robinhood’s operations team was sent a file by the clearinghouse that handles all stock trades – the National Securities Clearing Corporation (NSCC) – requesting a security deposit of $3 billion…. “‘(T)hey give us a file with the deposit and the request was around $3 billion, which is, you know, about an order of magnitude more than what it typically is.’” The NSCC doing this – makes zero economic sense.  It makes eminent Bigs crony sense. The stock buyers were buying with cash.  Therefore, the NSCC didn’t need to secure anythin...

“At 3 a.m. on Thursday, Tenev said that Robinhood’s operations team was sent a file by the clearinghouse that handles all stock trades – the National Securities Clearing Corporation (NSCC) – requesting a security deposit of $3 billion…. “‘(T)hey give us a file with the deposit and the request was around $3 billion, which is, you know, about an order of magnitude more than what it typically is.’” The NSCC doing this – makes zero economic sense.  It makes eminent Bigs crony sense. The stock buyers were buying with cash.  Therefore, the NSCC didn’t need to secure anythin...