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“# Robinhood COO: We have enabled more women to trade crypto ” The chief operating officer of stock and cryptocurrency trading app Robinhood aims for significant growth in the number of female customers, particularly when it comes to investing in crypto. In an interview with Business Insider published Wednesday, Robinhood COO Gretchen Howard said the…
“# Robinhood’s cash cow under SEC scrutiny amid IPO filing ” Trading platform Robinhood could lose a significant revenue source should the United States Securities and Exchange Commission move to ban the controversial payment for order flows (PFOF) — routing retail trading orders to market makers. Brokers like Robinhood often use the practice to offset…
“#Robinhood warns it could be hurt if interest in Dogecoin wanes” Commission-free trading app Robinhood warned investors on Thursday that its fortunes may be tied to a cryptocurrency that got its start as a joke. In revealing its financials for the first time while filing to go public, Robinhood said Dogecoin accounted for 34 percent…
“#Robinhood files for IPO amid blockbuster pandemic growth” No-fee trading app Robinhood revealed a massive $80 billion in customer assets amid blockbuster pandemic growth as it filed for its highly anticipated initial public offering on Thursday. In an S-1 filing with the Securities and Exchange Commission, the controversial app said it plans to trade under…
“# Facing $70M in fines from regulators, Robinhood files for IPO ” Stock and cryptocurrency trading app Robinhood has filed an application with the U.S. Securities and Exchange Commission for an initial public offering. In a Form S-1 registration statement filed Thursday with the SEC, Robinhood said it intended to move forward with an initial…
“# FINRA orders Robinhood to pay $70M due in part to ‘significant harm’ platform caused users ” The U.S. Financial Industry Regulatory Authority is penalizing Robinhood to the tune of roughly $70 million based on the results of an investigation into the stock and cryptocurrency trading app. In a Wednesday announcement, the Financial Industry Regulatory…
“#Charlie Munger calls Robinhood a ‘gambling parlor’” Charlie Munger, vice chairman of Berkshire Hathaway and Warren Buffett’s longtime business partner, slammed commission-free trading app Robinhood as being “beneath contempt” in a new interview. “It’s a gambling parlor masquerading as a respectable business,” the 97-year-old investor told CNBC late Tuesday. “And it’s telling people they aren’t paying commissions when the…
“# SEC inquiry regarding Robinhood’s crypto business reportedly delays IPO ” Major cryptocurrency and stock trading app Robinhood is reportedly struggling to move forward with its initial public offering due to an ongoing review from securities regulators. According to a Thursday report by Bloomberg, the United States Securities and Exchange Commission has been questioning Robinhood about…
“#How SEC boss should deal with ‘meme’ stock schemes” Gary Gensler thought he had all the answers when he took the helm at the Securities and Exchange Commission this spring. Wall Street lawyers and bankers who deal with him tell me he was highly confident — almost arrogant — in explaining his agenda of regulating…
“#Robinhood loses bid to block Massachusetts regulators’ case against it” A Massachusetts judge on Thursday rejected Robinhood’s bid to block state regulators from moving forward with their enforcement action alleging that the online brokerage encourages inexperienced investors to place risky trades without limits. Suffolk County Superior Court Judge Kenneth Salinger said Robinhood could continue challenging in court the…