Robinhood chief operating officer Christine Brown has praised the Shiba Inu community but said safety was the platform’s priority over the “short-term gain” of listing new tokens.
“One of my favorite things is seeing the community around these coins really engage with us and let us know what they want.”
However, Brown would not be drawn on whether the American stock and crypto trading app would list Shiba Inu. SHIB is currently the 11th-largest cryptocurrency with a market capitalization of $30 billion.
Brown stated that Robinhood is a “safety-first company” that closely assesses the regulatory feasibility of its listings.
“Our strategy is different than a lot of the other players out there who are racing to list as many assets as possible right now,” she said.
“We think that the short-term gain to us is not worth the long-term tradeoff for our users.”
Brown also revealed that Robinhood’s crypto wallet waitlist has surpassed 1.6 million users. When launched, the crypto wallet will finally allow users to move cryptocurrencies on and off the platform. The high demand indicates users are eager to gain control over their coins.
SHIB is priced at $0.00005430 on CoinGecko and has been on a downtrend since Nov. 3 when a wallet holding about $5.7 billion of the token sprang back to life.