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
Robinhood Markets said it received an investigative subpoena from the US Securities and Exchange Commission (SEC) in December. The agency’s move is part of a major crackdown against the digital asset industry after the dramatic collapse of Sam Bankman-Fried’s crypto empire last year. The disgraced crypto mogul was recently hit by fresh criminal charges relating...Read More
Robinhood’s cryptocurrency trading volume hit $3.7 billion last month, a 95% increase compared to December 2022. Contrary to the good start of the year, the 2022 bear market took its toll on the firm’s crypto revenue. It also dismissed nearly a third of its total headcount. Starting off on the Right Foot The cryptocurrency market...Read More
Robinhood recently announced its FY2022 Q4 results, laying out the profits and losses of its popular retail investor-friendly trading platform. The numbers, although overall positive, were a mixed bag – with traditional asset classes outperforming crypto. However, it’s worth noting that this may soon change. After all, Robinhood’s crypto wallet was, until recently, limited to...Read More
The latest company in relation to the disgraced FTX founder to file for bankruptcy is the holding firm owned by him and Gary Wang – Emergent Fidelity Technologies. It’s headquartered in Antigua and Barbuda and reportedly had just $20 million in cash and no other assets. The filings for Chapter 11 were submitted late on...Read More
Robinhood is a platform well-known for its user-friendly approach to stocks, allowing them to make investments quickly in a variety of ways. It also enables them to buy crypto and is a household name among such investors. However, Robinhood is primarily a stock trading platform and, as such, does not have a proprietary cryptocurrency. That...Read More
Sam Bankman-Fried (SBF) and his former right-hand, Gary Wang, are unable to retain ownership of almost half a billion dollars worth of Robinhood shares, according to a court document dated January 6th.The US Department of Justice (DOJ) has seized the executives’ holdings in response to charges of wide-ranging fraud against Bankman-Fried and FTX, with which...Read More
