On a recent earnings call, Robinhood Markets Inc. CEO Vlad Tenev spoke optimistically about Bitcoin’s future and its prospects as a mainstream asset, suggesting that a Bitcoin ETF would be possible in the future. Meanwhile, Tenev provided details on the company’s European development ambitions and the upcoming launch of brokerage
Since announcing that it will begin serving customers in Nevada, U.S., Robinhood, the California-based cryptocurrency trading platform, has garnered the attention of crypto market aficionados. The platform will support 15 cryptocurrencies, according to the statement. Robinhood shared the exciting news with cryptocurrency investors on Twitter on October 25. Robinhood Crypto
Robinhood has reportedly reached a deal with the US Marshals Service to buy back shares. As a result, the firm plans to repurchase $605.7 million worth of shares from Sam Bankman-Fried’s (SBF) Emergent Fidelity Technologies. Following the bankruptcy filings of SBF’s FTX and Emergent last year, the equities in issue
Robinhood has announced several major expansions to its self-custody cryptocurrency wallet in response to user feedback. According to the company, the Robinhood Wallet has seen significant global adoption with hundreds of thousands of users across over 140 countries since its public launch six months ago. In a recent blog post,
In a recent report published by Arkham Intelligence revealed that the popular investing and trading platform Robinhood (HOOD) has amassed a significant bitcoin (BTC) holding amounting to over $3 billion. This substantial sum of Bitcoin, stored in a single wallet, has been accumulated over the course of several months. Robinhood’s
Despite a decline in revenue, Robinhood announced profitable results for the second quarter of 2023, marking the first time the firm has turned a profit since becoming public. The trading platform had an 18% decline in quarterly revenue from crypto transactions to $31 million, as reported in its financial report
Robinhood is preparing to expand internationally in order to gain customers in the UK. According to Bloomberg, as a direct result, the US stock trading app has recruited a key executive from the British fintech business Freetrade. On Tuesday, it was reported that Jordan Dane Sinclair has been appointed CEO
Performance Wealth Partners LLC, a respected financial firm, recently acquired 10,000 shares in Robinhood Markets, Inc. (NASDAQ:HOOD), demonstrating confidence in the company despite its turbulent past. The purchase, worth roughly $97,000, comes as the company shows encouraging signs of recovery amid a resurgent cryptocurrency market. Significantly, the transaction follows a
On June 26th, Robinhood Markets announced that they will be laying off around 7% of its full-time staff. This equates to around 150 people. This change is being implemented as the company attempts to combat declining client engagement. The organization stated: “We’re ensuring operational excellence in how we work together
By purchasing X1, a company in the credit card industry, for $95 million, Robinhood has made a fresh move to diversify its business portfolio. The financial technology company provides prepaid and one-time use credit cards, as well as an income-based rewards credit card. According to a statement released by Robinhood
