Popular Trading App Robinhood’s Global Expansion Will Be ‘Crypto First’
Popular trading app Robinhood has revealed that its international expansion will be “crypto first.” The company said from the regulatory standpoint, crypto is “probably the easiest way to go global.” The trading platform is also looking for compliant ways to list more cryptocurrencies. Robinhood Becoming ‘Crypto-First’ Company Steve Quirk, Robinhood’s chief brokerage officer, talked about the firm’s turnaround strategy and crypto in an interview with CNBC last week. Noting that Robinhood now has seven....
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Currently, users of popular stock and digital currency trading app Robinhood can’t move their crypto off the platform. Retail shareholders of crypto-friendly trading app Robinhood are demanding a crypto wallet along with a branded hat and hoodie, a public shareholders questionnaire revealed. The public question crowdsourcing platform Say, which was Robinhood’s first purchase after it went public, enabled retail shareholders of Robinhood to ask and upvote questions in a Reddit-style interface. “Management will address a selection of the most upvoted questions relating to Robinhood’s....
Around 41% of Robinhood’s quarterly revenues were generated by crypto trading. Popular retail trading app, Robinhood, has revealed crypto trading surged in popularity on the platform and now represents 41% of its revenue.According to its second-quarter financial results published Aug. 18, the firm generated $233 million from crypto trading services for the quarter, up from $5 million for the entirety of 2020. More than 60% of funded Robinhood accounts traded digital assets during Q2 2021.With early 2021 witnessing the speculative dog-token trading frenzy, a whopping 62% of Robinhood’s....
Dogecoin is now Robinhood’s biggest crypto money maker. Trading from the meme coin accounted for 62% of crypto revenue for the trading app in the second quarter of the year. The coin had grown to popularity when people had needed a quick way to buy the coin. This was following the growing popularity of meme […]
Robinhood has renewed its global expansion plans by acquiring the British crypto firm Ziglu after aborting its U.K. expansion back in 2020. Robinhood, a major cryptocurrency-friendly stock trading app, is pushing global expansion by acquiring the United Kingdom-based crypto asset firm Ziglu.Robinhood officially announced Tuesday that it had signed a deal to acquire Ziglu, subject to regulatory approvals and other closing conditions. The firm declined to disclose the size of the deal to Cointelegraph.“Subject to regulatory approval, in the near term, nothing will change for current Ziglu....
Wolfe Research has told investors to consider the "outsized contribution" Dogecoin trading has made to Robinhood's recent growth. Robinhood’s recent disclosure of the major boost that crypto has contributed to its second-quarter financial earnings is worrying some financial analysts, largely due to the “outsized” role that Dogecoin (DOGE) trading has played.In an investor note this week, Wolfe Research’s Steven Cubak warned that “Robinhood’s growth within crypto is nothing short of remarkable, but the outsized contribution from Dogecoin simply cannot be ignored.”As reported, Robinhood’s Q2....