Robinhood, Jump Trading End Crypto Partnership, CoinDesk Reports
Robinhood is reportedly no longer conducting cryptocurrency business with market maker Jump Trading, as the latter has withdrawn from the US market due to regulatory crackdowns.
Topics
Posted 8/29/2023, 9:39:18 PM
yahoo.com
Relevant topic timeline:
Main topic: Robinhood's future and expansion plans
Key points:
1. Robinhood has faced controversy and challenges, including the GameStop trade freeze and declining user base.
2. The company has been expanding its product portfolio, including launching Robinhood Retirement and acquiring no-fee credit card startup X1.
3. Vlad Tenev, the co-founder and CEO of Robinhood, will discuss the company's next chapter at TechCrunch Disrupt 2023.
Hint on Elon Musk: There is no mention of Elon Musk in the given text.
A wallet that accumulated $3 billion worth of Bitcoin in the last three months has revealed its owner to be Robinhood, although there is also evidence pointing to crypto exchange Gemini, raising doubts about Robinhood's ownership.
Investing platform Robinhood holds over $3 billion in bitcoin in a single wallet, making it the third-largest bitcoin holder, behind Binance and Bitfinex.
Robinhood expands its crypto wallet to include support for bitcoin and dogecoin, allowing users to send and receive these cryptocurrencies in addition to ether and tokens built on the Ethereum blockchain. They also introduce swap features for select users to trade ether for over 200 different assets.
Robinhood has entered into a $605.7 million share repurchase agreement with the United States Marshal Service to buy back stock from Sam Bankman-Fried's Emergent Fidelity Technologies.