The third quarter results of Robinhood Markets were impressive and far surpassed the expectations of Wall Street, driven by the massive expansion of its cryptocurrency trading division. The cryptocurrency unit of the trading platform earned a record-breaking amount of $268 million in the quarter, which is four times higher than
Eighty more stock tokens have been deployed by Robinhood in the last few days, increasing the total number of tokenized assets close to 500, as part of its expansion of the tokenization initiative on the Arbitrum blockchain. The total value of the 493 assets tokenized by Robinhood exceeds $8.5 million,
Net income increased by 105% to $386 million, while total net revenue increased by 45% to $989 million. Trading volumes for Robinhood’s cryptocurrency increased by 32% to $28 billion, contributing to a 21.7% jump in the overall crypto market valuation to $3.36 trillion. This growth follows Robinhood’s acquisition of Bitstamp.
The Attorney General of Florida, James Uthmeier, has opened a formal investigation into the popular trading platform Robinhood. He asked whether the claims of the company that it provides the cheapest cryptocurrency trading services are true and valid. The inquiry focuses on the claims that Robinhood breached the Florida Deceptive
The plan to list “thousands” of private firms as tokenized stocks has been laid out by Robinhood’s co-founder and CEO, Vladimir Tenev. Its tokenized stocks for private companies OpenAI and SpaceX have been the subject of debate, prompting the declaration. A public denunciation of the offering was even made by the
Today, the memecoin market saw a boost when Robinhood revealed it would add two Solana-based tokens to its platform. After the announcement of their listings, both Moo Deng and Cat in a Dogs World saw their prices rise, showing that institutions are still interested in meme-based cryptocurrencies. Robinhood Embraces Memecoin
Robinhood has filed a proposal with the U.S. Securities and Exchange Commission (SEC), seeking a unified federal framework for trading tokenized real-world assets (RWAs). The proposal marks a pivotal moment in bridging traditional finance with blockchain innovation. The core of Robinhood’s plan is legal clarity. Instead of pushing new technology
Robinhood has announced a $179 million all-cash deal to acquire Canadian crypto firm WonderFi, accelerating its international expansion. The agreement values WonderFi shares at C$0.36 each, representing a 41% premium over the May 12 closing price and a 71% premium over the 30-day volume-weighted average. The deal, confirmed on May
The American financial services company, Robinhood Markets Inc., is reportedly making a blockchain platform to trade tokenized U.S. securities for European investors. On May 7, Bloomberg in its report mentioned that this step will possibly include a collaboration with a digital-asset company, with Arbitrium (ARB) and Solana (SOL) being seen
Robinhood, has agreed to pay an astonishing $29.75 million to settle FINRA probes of its supervisory and compliance practices. Robinhood’s Regulatory Failures The deal follows a series of missteps that landed Robinhood in regulators’ crosshairs, such as anti-money laundering, supervisory, and customer protection rule breaches. The issues began amidst heightened
