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.
The brokerage has long offered its users the chance to buy and sell digital currencies like BSV, BTC, ETH, and DOGE but hasn’t until now enabled withdrawals to external wallets.
The Coinbase trading suspension might have been short and temporary, but for many it's enough to cause losses. Are regulators watching this space?
Timothy Merkle offers an unpopular opinion that Robinhood’s recent decisions are reasonable, stating that the company is under no obligation to provide market access as its users demand.
Trading app Robinhood is preparing to roll out a new digital currency wallet service, alongside functionality that would allow digital currency transfers through its platform.
By removing payment for order flow, markets benefit from more efficient, transparent trading, according to SEC Chairman Gary Gensler.
The announcement came as part of its Q2 earnings report, which saw the company report significant losses from the most recent quarter—despite an uptick in digital currency trading through the platform.
The all-cash deal points to a direction of travel for Robinhood towards investing in technologies and companies in and around the brokerage and corporate sectors.
Robinhood, the US-based financial services provider, has gone public on the Nasdaq stock exchange under ticker-symbol $HOOD.
In a regulatory filing with the U.S. Securities and Exchange Commission, the company revealed it’s facing the penalties over issues related primarily to anti-money laundering and cybersecurity.
Robinhood has restricted user access to digital currency trading on its platform–this move comes after Dogecoin pumped 800%.