Lawmakers grilled President Biden's pick to head the Securities and Exchange Commission Gary Gensler on Tuesday and he took the tough questions in stride.
His confirmation hearing comes at a precarious time for U.S. financial markets which are seeing a robust uptick in retail traders. These small investors are behind some of the recent swings tied to heavily shorted stocks, such as GameStop and AMC.
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Gensler, who previously led the Commodities Futures Trading Commission with an iron hand, talked about bitcoin, the role of technology in the financial markets and hinted at a possible review of how 'payment for order flow' works amid the ongoing fallout from the Robinhood trading halt in January.