Robinhood Exchanges Aims To Extent Its Crypto Offerings - CEO Vlad Tenev.

Robinhood Exchanges Aims To Extent Its Crypto Offerings - CEO Vlad Tenev.

2022-01-30 | Big Bob

Robinhood Exchanges Aims To Extent Its Crypto Offerings - CEO Vlad Tenev.

When questioned about Shiba Inu, Robinhood CEO Vlad Tenev affirmed once more that the famous zero-fee trading software intends to extend its cryptocurrency offering.

Tenev did not directly name SHIB, but he did remark that the business is aware of a flurry of demands to expand the cryptocurrency selection, which presently consists of only seven currencies.

According to the CEO of Robinhood, the business is working with authorities to avoid listing unregistered securities.

Shiba Inu temporarily soared 8% previously this month on speculations of a Robinhood listing. The meme coin was on the minds of the application's customers in the run-up to the firm's earnings call.

Investors reportedly demanded to discover when the online brokerage would become successful and what actions have been done to boost shareholder value following the firm's IPO.

Robinhood's stock has plummeted

Robinhood's cryptocurrency-inspired transaction revenue fell 6% to $48 million in the fourth quarter of 2021, accounting for 18.18% of the firm's overall transaction-based income.

According to Bloomberg Intelligence analyst Julie Chariell, the decrease is due to the firm's unwillingness to list Shiba Inu.
Robinhood's stock dropped more than 12% in after-hours trading after failing to analysts' predictions.

Robinhood shares are currently fallen to 84 percent from their high, a larger drop when contrasted with other meme stocks like GameStop and AMC. In the later days of July, the firm went public.

Following a net loss of $423 million, Robinhood currently aims to be successful in 2023, while it does not rule out profits in 2022.

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