Tag Archives: robinhood

Marathon said it is cooperating with the SEC to provide the requested information, highlighting that it was dedicated to abiding by all relevant laws and rules. Bitcoin mining firm Marathon Digital Holdings Inc (NASDAQ: MARA) has gotten a subpoena from the United States Securities and Exchange Commission (SEC) in connection with suspected violations of Federal securities laws. According to reports from Bloomberg, the subpoena requests the production of certain documents related to the...

Stock and crypto trading platform Robinhood has announced “Robinhood Connect,” which lets crypto investors directly buy and withdraw crypto to self-custody using a credit card.  The service is currently live with personal wallets including MyDoge and Slingshot, and will soon come to both Phantom and Exodus.  The fiat-to-crypto on-ramp is set to compete against the likes of MoonPay and Coinbase Pay, but comes from a company more closely connected to traditional finance.  The...

The California Department of Financial Protection and Innovation (DFPI) joined a multi-state settlement with Robinhood, which will pay approximately $10.2 million in fines for registering operational deficiency that negatively affected investors during the COVID-19 crisis. The crypto-related company was slapped with another $30 million penalty last summer by the New York State Department of Financial Services (NYDFS) for violating anti-money laundering and cybersecurity...

Multifaceted trading platform Robinhood will pay the $10 million fine to DFPI following an investigation by NASAA. Robinhood (NASDAQ: HOOD) has reached a $10.2 million settlement with the California Department of Financial Protection and Innovation (DFPI). According to reports, the financial services company is paying the penalty for “operational and technical failures” that harmed investors. The Robinhood settlement follows a probe by the North American Securities Administrators...

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Online brokerage firm Robinhood rolled out its crypto wallet app worldwide for IOS users on Wednesday.  The app will support both the Ethereum network and its Layer 2 scaling solution, Polygon – but not Bitcoin.  Robinhood’s Web3 Wallet Per a blog post from Robinhood, the firm’s wallet app has now rolled out to a waitlist of over 1 million users, and has been downloaded in over 130 countries.  For a limited time, users of the app can be rewarded with 1 USDC if they deposit...

Robinhood Markets said it received an investigative subpoena from the US Securities and Exchange Commission (SEC) in December. The agency’s move is part of a major crackdown against the digital asset industry after the dramatic collapse of Sam Bankman-Fried’s crypto empire last year. The disgraced crypto mogul was recently hit by fresh criminal charges relating to political donations he made while running FTX. According to its latest 10-K filing, the subpoena is in regard to...

Robinhood’s cryptocurrency trading volume hit $3.7 billion last month, a 95% increase compared to December 2022.  Contrary to the good start of the year, the 2022 bear market took its toll on the firm’s crypto revenue. It also dismissed nearly a third of its total headcount. Starting off on the Right Foot The cryptocurrency market made an impressive comeback during the first month of 2023, with most assets significantly increasing their valuation compared to the end of 2022....

Robinhood recently announced its FY2022 Q4 results, laying out the profits and losses of its popular retail investor-friendly trading platform. The numbers, although overall positive, were a mixed bag – with traditional asset classes outperforming crypto. However, it’s worth noting that this may soon change. After all, Robinhood’s crypto wallet was, until recently, limited to beta testers and will be rolled out to the general public shortly. Higher Revenues, Lower Share...