Robinhood
Robinhood CEO Shuts Down FTX M&A Chatter, Says He Has Money to Do His Own Deals
Robinhood has $6 billion in cash should the brokerage want to explore potential acquisitions, CEO Vlad Tenev said Wednesday.
Robinhood Cuts 23% of Staff, but Crypto Transaction Revenue Rose to $53M
Bitcoin IRA co-founder and COO Chris Kline discusses the key takeaways from Robinhood's latest earnings report as it lays off nearly a quarter of its workforce while its crypto transaction revenue rose 7% to $58 million in Q2. Plus, outlook for MicroStrategy as bitcoin maximalist and CEO Michael Saylor steps down from his position.
Broker Robinhood Cuts Workforce by 23%, Shares Jump
Online trading brokerage Robinhood (HOOD) is cutting headcount by 780 workers, or about 23% its employees, in order to further streamline costs amid a continuing decline in monthly active users on the platform. In a press release, Robinhood CEO Vlad Tenev said it was due to “deterioration of the macro environment, with inflation at 40-year highs accompanied by a broad crypto market crash." "The Hash" team discusses the fate of Robinhood and where it could be headed next.
Broker Robinhood Slashing Nearly One-Quarter of Workforce
Crypto business rose for the company in the second quarter even as overall trading revenue slipped.
New York Dept of Financial Services Fines Robinhood Crypto $30M
The New York State Department of Financial Services fined Robinhood’s cryptocurrency trading unit $30 million for alleged violations of anti-money-laundering and cybersecurity regulations. CoinDesk Global Policy & Regulation Managing Editor Nikhilesh De breaks down the penalty. Plus, insights into SEC's fraud charge on Ponzi scheme Forsage and latest on Bitfinext hack laundering suspects "Razzlekhan" and "Dutch."
Robinhood's Crypto Division Fined $30M by New York Financial Regulator
The online broker said last year it expected the fine following a 2020 investigation.
Coinbase, Robinhood Shareholders Face Significant Stock Dilution: JPMorgan
Like many publicly traded tech firms, Coinbase and Robinhood have offered employees generously amounts of restricted stock units as part of their compensation.
Uniswap Token Rallies After Being Added to Robinhood’s Crypto Trading Menu
Offering UNI sent the token higher Thursday afternoon.
LINK Rallies as Much as 8% After Listing on Robinhood
It was the first time Robinhood has listed a new token since mid-April.
