6M noobs have bought coins on Robinhood Crypto already in 2021
Retail users have flocked to cryptocurrencies in 2021, with Robinhood reporting an increase in new monthly crypto traders of 15 times last year's average. Retail-focused trading app Robinhood has revealed the number of new monthly customers buying from its crypto platform this year is 15 times the 2020 average.According to the company’s new report, “Crypto Goes Mainstream,”more than three million new users purchased from Robinhood Crypto in January, with more than 2.9 million new users having bought crypto during February so far. As such, Robinhood Crypto’s user base has expanded by 6....
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With the company’s crypto business expanding significantly, Robinhood has appointed a chief operating officer to lead its cryptocurrency operations. Retail trading app Robinhood has appointed Christine Brown as the chief operating officer of its crypto division.The company announced the appointment in a statement on its website on Thursday. Brown, who is the current vice president of operations at Robinhood Markets, will now also oversee Robinhood Crypto following the appointment.Commenting on her new role, Brown expressed excitement at pivoting from traditional finance to the crypto....
Robinhood’s reputation has taken a battering lately, but it hopes to regain credibility among the crypto community by introducing cryptocurrency transfers. The controversy-laden trading platform Robinhood announced on Wednesday that it intends to implement cryptocurrency deposits and withdrawals. While customers have been able to buy and sell cryptocurrency via the platform for some time, they are unable to access the coins themselves to transfer them to other wallets. According to a series of tweets published from the company’s Twitter account, work on integration of cryptocurrency....
Robinhood Markets Inc., the American financial services company headquartered in Menlo Park, California, has seen its initial public offering (IPO) delayed by the U.S. Securities and Exchange Commission (SEC). According to a report citing “people familiar with the matter” the SEC is questioning Robinhood’s cryptocurrency business. SEC Questions Robinhood’s Crypto Dealings, IPO Delayed Robinhood was supposed to be having an initial public offering this month but according to a report from Bloomberg, the listing has been slowed by the SEC. The report cites a few....
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....