The American authorities have reportedly seized or will soon confiscate 56 million shares of Robinhood tied to the former CEO of FTX – Sam Bankman-Fried (SBF). The 30-year-old recently sought help from a United States Bankruptcy Court to obtain control of the HOOD stocks. SBF Takes Another Punch According to a Bloomberg coverage, the American government...Read More
FXT founder and former CEO Sam Bankman-Fried (SBF) borrowed over $546 million from his trading house, Alameda Research, to purchase a 7.6% stake in Robinhood earlier this year. According to an affidavit filed in the High Court of Justice Antigua and Barbuda on December 12 before the arrest of SBF, the former billionaire teamed up...Read More
Sam Bankman-Fried’s bankrupt cryptocurrency exchange FTX is seeking help from a United States Bankruptcy Court to gain control of $450 million worth of Robinhood shares. The portfolio holds 56 million brokerage shares owned by Emergent Fidelity Technologies, a corporate entity incorporated in Antigua and Barbuda. In March, these shares represented a 7.6% stake in Robinhood...Read More
Citi downgraded Robinhood Markets (HOOD) stock to ‘Neutral’ from ‘Buy’ due to potential risks from upcoming market structure proposals by the United States SEC, a cautious equity market outlook, and the impact of bankrupt-platform FTX spilling over the crypto trading revenue and client base. The analyst stated that the timing of that is “uncertain.” It...Read More
Shortly after filing for Chapter 11 bankruptcy protection, the distressed crypto lender has gone after Sam Bankman-Fried’s Emergent Fidelity Technologies entity. BlockFi’s filing involves shares of Robinhood that the once-FTX boss purchased earlier this year. The US-based crypto lender filed for bankruptcy yesterday in a New Jersey court, as reported, but also launched a lawsuit...Read More
As the valuation of cryptocurrencies wanes across the board, so do the revenues of platforms dealing with them. Although primarily a stock trading platform, Robinhood added crypto to its portfolio back in early 2022. At the time, over 1.2 million people were on the waiting list to get a piece of the digital asset pie....Read More
Robinhood Crypto – the cryptocurrency-focused unit of the online brokerage firm – has been slapped with a $30 million fine by the New York State Department of Financial Services (NYDFS). The department alleged on Tuesday that Robinhood violated both anti-money laundering and cybersecurity regulations, by neglecting to certify adequate programs for each. As a result,...Read More
FTX is not planning to buy Robinhood. The CEO of crypto exchange, Sam Bankman-Fried, refuted rumors about any such deal. According to the latest report, SBF said he is excited about Robinhood’s business prospects and collaboration in the future but clarified that FTX was not exploring opportunities to acquire the financial service company. I have...Read More
Sam Bankman-Fried (SBF)’s crypto exchange FTX is examining pathways by which it can acquire Robinhood, according to people with knowledge of the matter. As reported by Bloomberg on Monday, FTX is having internal deliberations on how it can buy out the brokerage app. The source of the information chose to remain anonymous, as this matter...Read More
Binance US – the US-based division of the world’s largest crypto exchange – announced a new pricing model that offers zero fees for four bitcoin trading pairs, including BTC/USD, BTC/USDT, BTC/USDC, and BTC/BUSD. The crypto giant becomes the first American exchange that makes such a service available to its users. The elimination of such trading...Read More
Gemini – the crypto exchange spearheaded by billionaire twins Cameron and Tyler Winklevoss – announced first-ever job cuts as the months-long crypto selloff had shown no signs of reversal yet. Around 10% of the existing staff will be laid off, according to an internal memo acquired by Bloomberg. Contraction Phase In the memo addressing their...Read More
If this crypto winter made you so poor that you cannot even pay for the fees of your crypto transactions, keep reading; Robinhood might have the perfect solution to all your problems. The popular stocks and crypto trading app, Robinhood, announced that its upcoming crypto wallet will not charge gas fees and support non-fungible tokens...Read More
Sam Bankman-Fried, the CEO of leading crypto exchange FTX, has purchased a 7.6% stake in the online trading platform Robinhood. According to a Thursday filing with the US Securities and Exchange Commission (SEC), the billionaire’s shares are worth $648 million, purchased at an average price of $11.52. Of note, the deal involved Emergent Fidelity Technologies...Read More
As part of its international expansion efforts, Robinhood signed an agreement to purchase the British cryptocurrency exchange – Ziglu Limited. The former raised hopes that the acquisition will allow it to spread its presence into the UK and across Europe. Robinhood Reveals the Deal With Ziglu The US financial services company – Robinhood – continues...Read More
Vlad Tenev, Chief Executive Officer of Robinhood, outlined how the first-ever memecoin (Dogecoin) could become “the future currency of the Internet and the people.” Unlike many others that label DOGE as an inflationary asset because of its infinite supply, the executive argued that its inflation rate would actually decline in time. Can DOGE Emerge as...Read More
Two wallets by Robinhood hold around $6 billion worth of Dogecoin (DOGE) for its customers. This is evident by a report from Dogecoin Whale Alert, a site dedicated to analyzing real-time transactions on the DOGE blockchain and tracking transfers of 4M DOGE or more. According to the data collected by Dogecoin Whale Alert, Robinhood wallet333495...Read More
The American financial services firm – Robinhood – announced that its cryptocurrency trading revenue for the fourth quarter of 2021 totaled $48 million. In comparison, this volume equaled $51 million in Q3. Disappointing Crypto Revenue for Robinhood in Q4 2021 has been a highly successful year for Robinhood as the company enjoyed significant financial profits...Read More
Robinhood, the financial services company with a popular trading app, recently launched cryptocurrency wallets. In an interview with Emily Chang of Bloomberg Technology, the company’s CPO, Aparna Chennapragada, noted that many customers are enthusiastic about delving into the new product. More Crypto Features in Robinhood App CryptoPotato reported recently the company’s plans to launch a...Read More
Robinhood price is plummeting today, down 7% in the past 24 hours and down over 31% in the past 30 days. In addition, Robinhood continues to have problems with its platform citing crypto trading issues. Why Is HOOD Price Dropping? is Robinhood a good investment for 2022? Let’s find out. What Is Robinhood? Founded in...Read More
Christine Brown, the Chief Operating Officer at Robinhood’s cryptocurrency arm, believes the Shiba Inu community has done well in expressing its desire to have the meme coin listed. However, the popular trading platform is still reluctant to do so. During an interview for the Crypto Goes Mainstream event, Brown was inevitably asked about her company’s...Read More
The popular investment app Robinhood announced recently that it experienced a data security breach on November 3, 2021. The incident gave the attackers access to personal information belonging to millions of users on the platform. The “unauthorized party” gained access to the customer support system via a social engineering technique, Robinhood stated in a blog...Read More
Fast-food giant Burger King has partnered with Robinhood to distribute cryptocurrencies to its customers. All buyers that make a $5 purchase will receive guaranteed Dogecoin, alongside a chance to win ether and bitcoin. Crypto With Your Combo Meal As detailed in a press release from Burger King earlier today, the new crypto giveaway is part...Read More
The millennial-focused Robinhood trading company has posted its third-quarter revenue report on Oct. 26, and things are not looking pretty on the crypto front. The firm stated that digital asset activity declined from record highs in the previous quarter, leading to considerably fewer new funded accounts. This has resulted in lower revenue in the third...Read More
The millennial-focused trading portal is edging closer to launching a long-awaited app that will enable its growing user-base to send and receive cryptocurrencies. A beta version of Robinhood’s iPhone app showed the company’s latest upgrades on the new digital asset features, according to Bloomberg. There is a hidden image showing a waiting list for users...Read More
The American fintech company – MoneyLion – announced it would enable users to trade digital assets via its all-in-one financial services application. While initially clients would be able to operate only with Bitcoin and Ethereum, the firm intends to add more cryptocurrencies to the offering in the future. MoneyLion Joins The Crypto Trend According to...Read More
In an effort to promote long-term cryptocurrency holdings, popular digital asset investment app Robinhood said it has launched a Dollar-Cost Average (DCA) feature for investors. Promoting Long-term Crypto Investments The service, termed Crypto Recurring Investments, will enable Robinhood users to automatically schedule purchases of their favorite cryptocurrencies in bits and at regular intervals. Announcing the...Read More
If we entertain entities like Robinhood, Coinbase, and SushiSwap in the same bracket, it would hardly make sense to an average listener. After all, these are independent organizations running on their own accord. However, the concept of ripple effect is sound, and currently, something similar might be unraveling in the financial industry. Let us start...Read More
eToro faced some technical issues today on 27 January. Several users took to Twitter to complain that they were unable to use the app. This was later confirmed by the eToto team which acknowledged the matter and said on Twitter: We’re aware that some users are unable to close positions on eToro. We’re aware that...Read More
In brief: Robinhood has secured $280 Million Series F funding after an $8.3 Billion valuation. The funding will drive a push to expand the platform globally. Robinhood also plans on scaling the platform and offering more products to users. The team at the popular trading platform of Robinhood has announced that the firm has secured...Read More
The Robinhood users with the help of the stock-trading company recently declared that its customers will in near future have the opportunity to buy fractional shares of a range of equities, so let’s find out more about the latest service by the company in our latest cryptocurrency news. Robinhood achieved to build its reputation in...Read More
