Robinhood's cash cow under SEC scrutiny amid IPO filing
Robinhood’s main revenue source for the first quarter of 2021 could come under SEC review. Trading platform Robinhood could lose a significant revenue source should the United States Securities and Exchange Commission (SEC) move to ban the controversial payment for order flows (PFOF) — routing retail trading orders to market makers.Brokers like Robinhood often use the practice to offset trading fees thus providing zero commission trading to its retail customer base.According to the Wall Street Journal on Wednesday, Robinhood’s initial public offering (IPO) filing revealed that the broker....
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Robinhood’s IPO prospectus shows that 9.5 million customers traded $88 billion of cryptocurrency on its platform in Q1 and the company held approximately $12 billion in crypto assets under custody, a 23-fold increase from last year. Meanwhile, 34% of Robinhood’s cryptocurrency revenue was attributable to the meme cryptocurrency dogecoin. Robinhood’s IPO Prospectus Reveals Crypto Business Details Robinhood Markets Inc. (Robinhood) filed a preliminary prospectus with the U.S. Securities and Exchange Commission (SEC) Thursday for its initial public offering (IPO). The....
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....
Robinhood's CEO said the platform's decision to halt buy orders on GME, NOK and AMC was based on a "technical and operational" one, not outside pressure.
Shares in the popular online brokerage Robinhood have spiked over 30% in after hours trading following billionaire Sam Bankman-Fried acquiring a 7.6% stake in the company. Sam Bankman-Fried, the billionaire founder and CEO of cryptocurrency exchange FTX has acquired a substantial 7.6% stake in the popular online brokerage, Robinhood. The news was well received by the market, with Robinhood’s (HOOD) stock price initially soaring over 30% in after hours trading. At the time of writing the price has settled to a 24% overall gain.According to a securities filing made with the Securities and....
Trading platform Robinhood is launching a cryptocurrency gifts program, allowing users to gift several cryptocurrencies, including bitcoin, dogecoin, ether, bitcoin cash, and litecoin. As with crypto trading, gifts are commission free and users can gift as little as $1 in cryptocurrency.
Robinhood’s Crypto Gifts Program
Robinhood announced Thursday the upcoming launch of Robinhood Crypto’s “Cryptocurrency Gifts Program.”
Users can gift as little as $1 in cryptocurrency, Robinhood’s website details, noting that it can take 3-5 days....