PayPal reportedly looks to take on Robinhood with stock trading
PayPal has reportedly conducted discussions to acquire a broker-dealer but is unlikely to launch the new investment service this year. American payment giant PayPal is reportedly exploring ways to offer stock trading after launching cryptocurrency trading services last year.PayPal is looking to buy or partner with a broker-dealer to introduce its own stock trading service to compete with rivals like crypto-friendly stock trading app Robinhood, CNBC reported on Aug. 30.Citing anonymous sources, the report notes that PayPal has conducted relevant discussions with potential industry players....
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The feature was originally suspended on Jan. 29. Stock and crypto trading app Robinhood has reportedly re-enabled instant deposits for cryptocurrency purchases after almost a week.Robinhood has removed the original update on its support page suspending instant deposits, and its website currently shows certain users once again have "instant access" to up to $1,000 to buy crypto. Many of the app’s users also reported on social media they were able to access the trading feature last night.The "instant buying" function is a paid feature that gives Robinhood customers instant access to funds....
Stock trading and investing app Robinhood has reportedly been testing new features, including a crypto wallet and cryptocurrency transfers. “The ability to deposit and withdraw cryptocurrencies is tricky to do with scale, and we want to make sure it’s done correctly and properly.”
Robinhood to Add Crypto Wallet and Transfer Features
Investing app Robinhood is “quietly” testing several new features, Bloomberg reported Monday, describing:
Robinhood Markets Inc. is testing new crypto wallet and cryptocurrency transfer features for its app.....
The US-based stock and crypto trading platform has reportedly secured a 60% cut on the initial offer made to Ziglu due to poor market conditions. Stock and crypto investment platform Robinhood has reportedly scored a 58% cut on its $170 million offer to buy crypto exchange Ziglu due to adverse market conditions.The initial offer from Robinhood came in April, however according to various reports online around Aug.17, the company revised its offer to $72.5 million after citing adverse market conditions. Ziglu CEO Mark Hipperson reportedly accepted the offer on Aug. 18.Robinhood is said to....
Unlike traditional IPOs with a six-month lockup period, Robinhood will allow its employees to sell 15% of its shares immediately after the public debut. Shares of cryptocurrency-friendly trading app Robinhood dropped more than 8% in its public Nasdaq debut on Thursday, marking one of the worst initial public offering (IPO) debuts of its size.Robinhood’s HOOD stock tumbled 8.4% below the IPO price in the company’s first trading session on July 29, dropping from $38 to $34.82. The company went public on Nasdaq at a $32 billion valuation to see its market capitalization fall to $29 billion....
The U.S. Financial Industry Regulatory Authority delivered its biggest financial penalty against the trading app on Wednesday, and Robinhood still reportedly faces scrutiny from the SEC regarding its business practices. Stock and cryptocurrency trading app Robinhood has filed an application with the U.S. Securities and Exchange Commission for an initial public offering.In a Form S-1 registration statement filed Thursday with the SEC, Robinhood said it intended to move forward with an initial public offering for its Class A common stock. If approved, the company said it plans to trade using....