The U.K.-based digital currency exchange is looking to raise $2.5 million at a $12.3 million valuation, which will allow it to continue providing services to its customers, according to reports.
The Robinhood wallet launched in September to 10,000 users and is now available to all iOS users globally amid a drastic dip in its digital asset trading volume.
The U.S. securities regulator and the California Attorney General’s office are probing the digital asset activities at Robinhood, including listings, custody, and platform operations.
A fresh slew of charges was brought against Sam Bankman-Fried, which was triggered after opening a bank account that he used to transmit and receive customer funds.
The hackers took over the account for a short time to promote RBH, a scam token on the Binance BNB Chain, and made over $7,000 before the account was recovered.
Joshua Henslee believes that Robinhood's delisting of BSV could be in response to the financial crisis it's facing following the collapse of FTX and admits that the move will likely cause issues.
The DOJ is looking into the $372 million hack from FTX-controlled wallets that occurred the day after the embattled firm of former CEO Sam Bankman-Fried filed for Chapter 11 bankruptcy.
Robinhood saw its active users fall 12% and notional volume slump 24% in Q3 but remains bullish that it can ride out the "crypto winter."
The meme stock saga from January 2021 is still haunting Robinhood, and investors who alleged it manipulated the market can pursue their case, a judge has ruled.
CEO Vlad Tenev took the blame for the layoffs, saying the company projected the high interest in its platform during the pandemic, and meme stock craze would last.
NYDFS Superintendent Adrienne Harris said Robinhood Crypto failed to invest the proper resources and attention to develop and maintain a culture of compliance.
The layoffs will help Robinhood to improve efficiency, increase velocity, and ensure that it can adapt to changing needs of users, according to the company.
