In the fourth quarter of 2024, the total NFT sales volume across Immutable X and Immutable zkEVM increased by 55.3% quarter-over-quarter. Messari’s latest analysis revealed that the figure rose from $51.2 million to $79.5 million. Market Participation Plummets Despite this growth, both the average daily sellers and buyers declined significantly, with daily sellers dropping 43.0%...Read More
The cryptocurrency unit of the American financial services company Robinhood is now in the clear as the Securities and Exchange Commission (SEC) has closed its investigation into the business. According to a blog post by Robinhood, the SEC revealed in a letter dated February 21 that it had wrapped up its investigation into the firm’s...Read More
Robinhood Markets saw its revenue more than double in the fourth quarter of 2024. This was fueled by a surge in cryptocurrency trading owing to the favorable US presidential election. The company reported $1.01 billion in revenue, which surpassed analysts’ projections of $940.8 million. Robinhood Doubles Revenue in Q4 2024 Crypto trading played a significant...Read More
Robinhood Derivatives announced that the Commodity Futures Trading Commission (CFTC) has requested it “not permit customers to access” sports event contracts. In response, Robinhood is suspending the rollout of its Pro Football Championship market, which had been introduced to approximately 1% of its users. CFTC Blocks Robinhood’s Sports Betting According to the official press release,...Read More
Crypto.com and Kalshi are under scrutiny from the Commodity Futures Trading Commission, which has asked both firms to clarify how their recent Super Bowl event contracts meet derivatives compliance requirements. The CFTC is legally empowered to demand further documentation from companies that self-certify financial products, focusing on safeguards against manipulation and adherence to regulatory obligations....Read More
Forbes has released its third annual “Best Crypto Exchange” ranking, evaluating over 200 firms based on security, trading volume, fees, regulatory compliance, and transparency. CME Group, Coinbase, and Bitstamp emerged as the top three most trustworthy crypto exchanges. The Top 5 Exchanges Chicago-based CME Group, an $85 billion firm with a long history in futures...Read More
The stablecoin market has experienced remarkable growth in 2024, driven by rising cryptocurrency adoption and a surge in institutional participation. All eyes are now on Ripple’s newly approved stablecoin, Ripple USD, a.k.a. RLUSD. But Ripple’s Chief Technology Officer, David Schwartz, addressed concerns over potential price anomalies for the asset as it prepares to launch. Speculative...Read More
The cryptocurrency arm of the American financial services company Robinhood has released its end-of-the-year report for 2024, outlining its growth and expansion to new markets over the past 11 months. Alongside the report release, Robinhood Crypto is celebrating the first anniversary of launching a digital asset trading division in Europe. Robinhood Releases End of Year...Read More
On Nov. 5, crypto, venture capital, and fintech firms Anchorage Digital, Bullish, Galaxy Digital, Kraken, Nuvei, Paxos, and Robinhood announced the launch of the “Global Dollar Network.” The partners are combining resources and expertise to increase stablecoin adoption and expand real-world use cases with the launch of the Global Dollar USDG stablecoin. Paxos will be...Read More
Robinhood has reported a 112% year-over-year increase in cryptocurrency trading volume, reaching $14.4 billion in the third quarter of 2024. However, this surge comes amid a decline in trading activity compared to earlier in the year, with volumes peaking at $36 billion in the first quarter and dropping to $21.5 billion in the second quarter....Read More
Robinhood’s Chief Legal Officer, Dan Gallagher, is emerging as a leading contender to head the SEC if Donald Trump wins the presidency. “He’d be a natural choice,” one former senior SEC official told Politico, which cited a dozen former top regulators, lobbyists, and securities lawyers. Talkshow host Steven Steele commented that this would be huge...Read More
Robinhood Markets’ crypto subsidiary is expanding its cryptocurrency offerings in the EU by enabling customers the ability to deposit and withdraw more than 20 different digital assets including Bitcoin (BTC), Ethereum (ETH), Solana (SOL), USD Coin (USDC). Robinhood debuted its crypto trading service in the EU in December of last year. While users could buy...Read More
Popular trading platform, Robinhood, has reached an agreement to acquire cryptocurrency exchange, Bitstamp. This purchase aims to bolster Robinhood’s presence in the crypto space across the world while simultaneously attracting institutional clients by offering new products. The all-cash deal is valued at $200 million and is anticipated to be finalized in the first half of...Read More
The popular millennial trading platform released its earnings report on May 8, beating analyst estimates. According to its first-quarter results, Robinhood reported record revenues of $618 million, up 40% year-over-year. Additionally, revenue from cryptocurrencies surged 232% to $126 million. “Transaction-based revenues increased 59% year-over-year to $329 million, primarily driven by cryptocurrencies,” the firm stated. Robinhood’s...Read More
Robinhood Markets Inc. has become the next crypto trading platform to receive a threat of legal action from the Securities and Exchange Commission (SEC), adding to the sizable list of industry giants on the agency’s hit list. In a Form 8-K filed on Saturday, the company said it received a Wells Notice from the SEC...Read More
On April 30, the popular millennial trading platform Robinhood announced that its crypto Connect feature was now available on the Uniswap mobile application. It added that eligible Robinhood customers can get $10 in the USD Coin (USDC) stablecoin as a reward when they buy the equivalent amount of crypto using Robinhood Connect as a payment...Read More
Online stock and crypto brokerage firm Robinhood has teamed up with the management team of the Ethereum-based layer-2 network Arbitrum to give its wallet users access to swaps on the protocol. According to a release seen by CryptoPotato, the duo announced the alliance on February 29 at the ETHDenver 2024 event in Colorado, saying the...Read More
Robinhood’s quarterly results are in – and they have once again beaten expectations, if only by a marginal amount. Although Robinhood has by no means been spared the aftershocks felt throughout the crypto market and the larger economic sector, things are looking up for the popular trading firm. Revenues Are Up, Costs Are Down Overall,...Read More
Robinhood CEO Vlad Tenev announced today that the company would list Bitcoin ETFs on its platform. The statement follows the landmark decision by the Securities and Exchange Commission (SEC) approving spot Bitcoin ETFs. SEC’s Approval to Integrate Crypto with Traditional Finance “We’ve been ahead of the curve in crypto access, and we plan to list...Read More
Cryptocurrency trading volumes on Robinhood experienced a significant increase in November by approximately 75% above the levels recorded in October, based on early results disclosed by the company. However, equity trading volumes and options contracts traded in November remained relatively consistent, aligning with the levels observed in October, according to a Form 8-K filing submitted...Read More
Bitcoin wallet address that accumulated $3 billion worth of BTC in three months to become the 3rd largest wallet address belongs to the investing and trading platform Robinhood. The wallet had attracted attention dividing the market observers into speculating whether it belonged to Winklevoss-led Gemini or asset management giant BlackRock. However, Arkham Intelligence data showed...Read More
Arkham Intelligence has identified Robinhood as the fifth-largest holder of Ethereum (ETH) and holder of 34 trillion Shiba Inu (SHIB) tokens. Earlier this month, Arkham Intelligence also named Robinhood as the owner of the third-largest Bitcoin wallet, with holdings equivalent to around $3.2 billion. Our identification of Robinhood as the owner of the third-largest Bitcoin...Read More
US-based investing and trading platform giant Robinhood has been identified as the owner of the fifth largest Ethereum (ETH) wallet address, accounting for the second-largest crypto holding in its portfolio after Bitcoin (BTC). The company’s wallet app recently added support for Bitcoin and Dogecoin while including an Ethereum swap feature. Robinhood Has 1.493 Million ETH...Read More
Crypto and stock trading platform Robinhood (HOOD) has executed a nine-figure buyback of its own shares from FTX’s former executives, including disgraced boss Sam Bankman-Fried and his fellow co-founder Gary Wang. The purchase secured 55,273,469 HOOD shares worth $605.7 million. Robinhood entered into the purchase agreement with the United States Marshal Service (USMS) on August...Read More
On June 26, Robinhood Markets said it was cutting about 7% or 150 of its full-time employees. The move comes as the firm struggles with reduced customer engagement. It stated: “We’re ensuring operational excellence in how we work together on an ongoing basis. In some cases, this may mean teams make changes based on volume,...Read More
US-based trading firm Robinhood announced the delisting of Solana (SOL), Cardano (ADA), and Polygon (MATIC) after the Securities and Exchange Commission (SEC) labeled them as securities in the suits against two crypto heavyweights. The company, which recently ventured into crypto, said the SEC’s claim cast a cloud of uncertainty around these assets and, as a...Read More
Robinhood Markets is weighing on its crypto offerings according to the firm’s legal chief Dan Gallagher amid intensified crackdown on the industry. The move comes as the securities regulator targeted a broad swath of the digital asset market, launching a pair of lawsuits against two heavyweights – Binance and Coinbase – that together account for...Read More
Stock and crypto investing app Robinhood reported $441 million in net revenue in Q1 2023, up 16% from the previous quarter. Its increased numbers, however, did not come from its crypto business – which appears to be trending in the opposite direction. Crypto Down, Interest Up Per the company’s first-quarter results report on Wednesday, Robinhood’s...Read More
The California Department of Financial Protection and Innovation (DFPI) joined a multi-state settlement with Robinhood, which will pay approximately $10.2 million in fines for registering operational deficiency that negatively affected investors during the COVID-19 crisis. The crypto-related company was slapped with another $30 million penalty last summer by the New York State Department of Financial...Read More
Online brokerage firm Robinhood rolled out its crypto wallet app worldwide for IOS users on Wednesday. The app will support both the Ethereum network and its Layer 2 scaling solution, Polygon – but not Bitcoin. Robinhood’s Web3 Wallet Per a blog post from Robinhood, the firm’s wallet app has now rolled out to a waitlist...Read More
