ARK Invest started dumping large amounts of Robinhood stock for the first time after aggressively buying HOOD shares last year.
Robinhood News
Robinhood is a trading platform that allows users to buy and sell cryptocurrency. Technically, Robinhood is a cryptocurrency broker that allows users to transact, purchase and store altcoins and Bitcoin (BTC).
Unlike most exchanges, users cannot withdraw their cryptocurrencies from their Robinhood accounts. Instead, they need to sell their coins or tokens and transfer the proceeds from the sale to an external account. The platform offers coins such as Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH) and Dogecoin (DOGE) and accepts USD fiat currency. In addition to these cryptocurrencies, users can purchase stock, options and exchange-traded funds (ETF) on Robinhood.
Robinhood is one of the most popular crypto platforms due to its user-friendly interface. Also, there are no charges for opening an account, trading or transferring cryptocurrency out of Robinhood. The company derives its income from transaction-based sources, including payments for order flow.
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The brokerage firm currently has $14.7 billion in crypto under custody.
1917Spot Bitcoin ETF issuer ARK Invest sold $34 million in Coinbase shares amid the stock breaking new highs in 2024.
5003Direct Bitcoin trading is still more popular than ETFs for Robinhood users, says its chief financial officer Jason Warnick amid better-than-expected Q4 2023 results.
5233Massachusetts Secretary William Galvin brought the enforcement action in December 2020, claiming that Robinhood marketed itself as “some sort of game that you might be able to win.”
1311All eligible customers in the EU region can access Robinhood for crypto trading services, with over 25 cryptocurrencies available for trade.
8323The trading platform posted a sharp rise in monthly crypto trading volumes in November, while CEO Vlad Tenev said he hopes to eventually reel in “nine figures” in annual revenue.
6646Robinhood CEO Vladimir Tenev said in an interview with Bloomberg that the company is still focused on its global aspirations, and its U.K. expansion is one step toward that.
2392Crypto firms’ policies on coin listing and delisting must align with a list of standards set by the NYDFS.
4953A court has rejected a motion requesting class action certification from investors pursuing legal action against Robinhood.
4812Cathie Wood’s ARK Invest has continued accumulating Robinhood shares while dumping Grayscale Bitcoin Trust shares.
7442Robinhood attributed the decline in its transaction-based revenue to reduced cryptocurrency trading volumes on the platform.
2246The payment to the American Yacht Group was disclosed under the category of payments benefiting any insider within one year before the crypto exchange collapsed.
16149The purchase of the 55 million Robinhood shares had been expected following approval from the company’s board and a U.S. district court.
7412Robinhood’s Bitcoin holdings could reshape the crypto landscape by supercharging the influence of retail investors and possibly creating new market risks.
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