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I want to thank everyone for their patience and support. While today’s developments are not new, they are never easy.

Our customers and our mission to increase access to investing remain our priority. That will never change. I am proud of all our staff for putting their heads together and working to immediately communicate to our customers what was going on.

I want to clarify a few things and also explain why Robinhood made the decisions it did to restrict purchasing of certain securities.

As a brokerage firm, Robinhood has many financial requirements, including SEC net capital obligations and clearinghouse deposits. Some of these requirements fluctuate based on volatility in the markets and can be substantial in the current environment.

These requirements exist to protect investors and the markets and we take our responsibilities to comply with them seriously, including through the measures we have taken today.