Robinhood
US authorities are seizing $460M in Robinhood shares tied to FTX: Report
The United States Departure of Justice has reportedly seized or was in the process of seizing more than $400 million worth of Robinhood shares linked to FTX as part of the case against the crypto exchange. According to a Jan. 4 report from Reuters, U.S. officials told a judge they were in the process of seizing assets tied to FTX and its former CEO, Sam Bankman-Fried, which included 56 million shares of Robinhood — worth roughly $468 million at the time of publication. The report comes a day after a judge in the criminal case against SBF orderedyu7po him not to access or transfer any cryptocurrency or assets from FTX or Alameda. Amid FTX’s bankruptcy proceedings, control of the Robinhood shares has been under contention as many investors and creditors look to be made whole. BlockFi, B...
Twitter quietly adds BTC and ETH price indexes to search function
Twitter has added a new crypto feature that enables Twitter users to search the price of Bitcoin (BTC) and Ether (ETH) simply by typing “Bitcoin” or “Ethereum” into the search tab. The Elon Musk-led social media platform didn’t announce the new feature to the public. However, the Documenting Bitcoin account was one of the first to highlight the update, and shared a screenshot of the new price index feature to its 853,700 Twitter followers on Dec. 21. Twitter now shows the #bitcoin price! pic.twitter.com/GWg6i3Ibkb — Documenting Bitcoin (@DocumentingBTC) December 21, 2022 Upon searching crypto token names on Twitter, Ether’s price also shows up too, however it appears that BTC and ETH are the only two price charts that come up on Twitter’s search tab. Other top cryptocurrencies, inclu...
Tired of losing money? Here are 2 reasons why retail investors always lose
A quick flick through Twitter, any social media investing club, or investing-themed Reddit will quickly allow one to find handfuls of traders who have vastly excelled throughout a month, semester, or even a year. Believe it or not, most successful traders cherry-pick periods or use different accounts simultaneously to ensure there’s always a winning position to display. On the other hand, millions of traders blow up their portfolios and turn out empty-handed, especially when using leverage. Take, for example, the United Kingdom’s Financial Conduct Authority (FCA) which requires that brokers disclose the percentage of their accounts in the region that are unprofitably trading derivatives. According to the data, 69% to 84% of retail investors lose money. Similarly, a study by the U.S. ...
Cardano gets listed on Robinhood but ADA bulls are running out of steam, risking 40% drop
ThCardano (ADA) market has witnessed back-to-back pieces of good news since Aug. 31, from its listing on Robinhood, a U.S.-based retail investment platform, to the release of its first lending and borrowing protocol, Aada Finance. Additionally, Cardano developer IOHK stated that they are close to clinching “three critical mass indicators” that would lead to the launch of their long-awaited Vasil hard fork in September. Vasil aims to improve Cardano’s scalability and transaction throughput through pipelining. The upgrade could also improve the decentralized application (DApp) and smart contract capabilities by changing the Plutus script, a programming language used for smart contracts on the Cardano blockchain. This week, we’re well on our way to hitting our...
Data transfer network Plaid integrates 4 major crypto exchanges
United States data transfer network Plaid has added four major cryptocurrency exchanges to its platform, giving users the ability to connect their digital asset portfolios to other applications more easily. Crypto platforms Binance.US, Gemini, Robinhood and SoFi are now supported by the Plaid network, the company announced Thursday. Support for additional platforms, such as Blockchain.com and BitGo, is scheduled to commence later this year. We now support leading digital asset exchanges on the Plaid network, including @BinanceUS, @Gemini, @Robinhood & @SoFi with plans to support additional crypto providers like @Blockchain and @BitGo later this year. https://t.co/I1QlXmL8hQ — Plaid (@Plaid) July 14, 2022 The integrations are intended to help crypto users “bridge data portability ...
Major crypto firms reportedly cut up to 10% of staff amid bear market
Gemini, a cryptocurrency trading platform founded by brothers Cameron and Tyler Winklevoss, is the latest industry firm to lay off a significant part of its staff due to unfavorable market conditions. Winklevoss’ crypto business Gemini Trust reportedly cut 10% of its employees amid the ongoing bear crypto market, the founders wrote in a notice to employees on June 2, as Bloomberg reported. As part of its first major headcount cut, Gemini will refocus on products that are “critical” to the firm’s mission, the brothers said, adding that “turbulent market conditions” are “likely to persist for some time.” The notice reportedly reads: “This is where we are now, in the contraction phase that is settling into a period of stasis — what our industry refers to as “crypto winter. […] Thi...
Robinhood shares spike 30% after Sam Bankman-Fried buys $650M stake
Sam Bankman-Fried, the billionaire founder and CEO of cryptocurrency exchange FTX has acquired a substantial 7.6% stake in the popular online brokerage, Robinhood. The news was well received by the market, with Robinhood’s (HOOD) stock price initially soaring over 30% in after hours trading. At the time of writing the price has settled to a 24% overall gain. According to a securities filing made with the Securities and Exchange Commission on Thursday, Bankman-Fried purchased a total of $648 million in Robinhood shares at an average price of $11.52. The purchases disclosed by Bankman-Fried reportedly began in mid-March and continued through until Wednesday. In the securities filing, Bankman-Fried made it clear that he had, “no intention of taking any action toward changing or influenc...
Crypto-associated stocks hammered as COIN and HOOD drop to record lows
Bad news continues to dominate crypto media headlines and May 12’s juiciest tidbit was the unexpected collapse of the Terra ecosystem. In addition to the weakness seen in equities, listed companies with exposure to blockchain startups and cryptocurrency mining have also declined sharply. Bitcoin mining stocks continue bleeding… Mining investors probably wish they had simply bought bitcoin instead at the beginning of 2022, as most bitcoin mining stocks have underperformed bitcoin by a wide margin. pic.twitter.com/anSoUEoUJ1 — Jaran Mellerud (@JMellerud) May 11, 2022 While it may be easy to blame the current pullback solely on Terra’s implosion, the truth is that the price of Bitcoin mining stocks has largely mirrored the performance of BTC since reaching a peak in November...
Grayscale’s GBTC and ETHE products now available on Robinhood
Digital asset manager Grayscale has made its flagship Bitcoin (BTC) and Ether (ETH) products available on Robinhood, the popular trading app open to millions of retail users. Beginning on Friday, Robinhood users will be able to trade Grayscale’s Bitcoin Trust (GBTC) and Ethereum Trust (ETHE) directly through the app. Shares of GBTC provide investors with direct exposure to Bitcoin in the form of a security without having to buy or store the digital asset directly. ETHE, meanwhile, operates as an open-end investment company whose shares reflect the value of Ether held by the trust. Finally! You can now trade Grayscale Bitcoin Trust and Grayscale Ethereum Trust on Robinhood$GBTC $ETHE https://t.co/MzOJxvI7GG — Barry Silbert (@BarrySilbert) May 6, 2022 Grayscale’s Bitcoin Trust is the l...
Robinhood makes significant strides in crypto business in Q1 despite falling revenue
On April 28, discount-brokerage platform Robinhood published its financial results for the first quarter of 2022. Year-over-year, the firm’s net revenue declined by 43% to $299 million. Specifically, revenue from cryptocurrency trading fell by 39% to $54 million during the same period. This was partly due to a decrease in the interest in meme stocks as well as an ongoing cryptocurrency bear market that dominated much of the first three months of the year. However, despite a decrease in sales, the company’s net cumulative funded accounts rose by 27% year-over-year to 22.8 million. At the same time, total assets under custody increased 15% to $93.1 billion. Robinhood took several important steps in enhancing its crypto business. First, the firm rolled out crypto wallets to the ap...
Robinhood axes almost 1 in 10 staff members as stock hits all-time low
Popular retail trading platform Robinhood has fired 9% of its workforce amid a firesale of its stock that has seen HOOD plunge to all-time lows. In the past 30 days alone, HOOD has tanked roughly 38% to sit at $9.99 at the time of writing, marking the lowest price since the initial public offering (IPO) launch in mid-2021. The decline is part of a longer-term bearish trend that has seen the price of HOOD continually decrease since its all-time high of roughly $70.39 on Aug. 4 2021 according to TradingView. Robinhood publicly announced its staff readjustment via an April 26 blog post by CEO and co-founder Vlad Tenev. He noted that after going through a “period of hyper-growth” between 2020 and H1 2021, the firm’s headcount had increased nearly six times, from 700 to nearly 3800 employees. H...
DOGE price analysis hints at 30% drop despite Elon Musk’s Twitter bid
The brief Dogecoin (DOGE) price rally last week following Tesla CEO Elon Musk’s bid to buy Twitter appears to be fizzling out as DOGE closes the week over 8%. DOGE’s price dropped to $0.142 on April 17, three days after peaking out locally at $0.149. The Dogecoin correction, albeit modest, raised its potential to trigger a classic bearish reversal pattern with an 85% success rate of reaching its downside target. DOGE price eyes drop under $0.10 Dubbed head and shoulders (H&S), the pattern appears when the price forms three peaks in a row, with the middle one, called the “head,” in between the other two, which are of almost equal height, and are thus called the left and right “shoulders.” These three peaks hold above a common support ...
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