Hedge fund boss Steve Cohen quits Twitter after family received threats amid GameStop saga

Billionaire and owner of New York Mets, Steve Cohen, who helped save one of the Wall Street companies that suffered massive losses in GameStop stock, is on Twitter on Saturday.personal threats“Against his family.

“I really enjoyed the course of Mets fans on Twitter that unfortunately this week was overcome by misinformation unrelated to Mets and caused our family to receive personal threats,” he said in a statement. So I will take a break for now.

As small-scale traders bet against Wall Street companies’ predictions and sent the rise of GameStop and other underpowered stocks, Mr. Cohen’s Point72 Asset Management helped save Melvin Capital Management, one of the most hit companies. With 750 million dollars. Melvin is run by Mr. Cohen’s former protein, Gabe Plotkin, and manages Point72’s more than $ 1 billion in assets.

Social media users, including Dave Portnoy, founder of sports media company Barstool Sports, accused Mr. Cohen and other Wall Street funds of co-secretly cooperating with stock trading practices like Robinhood, which restricts trading in GameStop and other stocks for a certain period of time. . amid big fluctuations in price.

“IT’S TIME,” Mr. Portnoy said. “Dems and Republicans have disagreed on 1 issue so far. How obvious, illegal, and inconceivable today’s events are. Also @RobinhoodApp @ StevenACohen2C Citadel Point72 thinks all of them are untouchable. Fines are not enough. Prison or arrest.

Mr. Cohen fiercely he refused now on his deleted Twitter.

“What are you talking about?” He replied to Mr. Portnoy. “I firmly deny this accusation. I had nothing to do with what happened today. “

Citadel Securities, who also helped save Melvin, also denied the accusation.

“Citadel Securities has not instructed or otherwise caused any brokerage to cease, suspend or restrict trading or otherwise refuse to do business,” the company said. New York Post.

The trading app Robinhood at the heart of the controversy kicks off Relief of trade restrictions on Fridayand said that earlier restrictions owe a variety of legal requirements.

In a statement, “The Commission will closely examine actions by regulated entities that could put investors at a disadvantage or unnecessarily prevent the trading of certain securities”. “Also, we will take action to protect retail investors when the facts show abuse or manipulative trading activity prohibited by federal securities laws.”