Google parent company: has sold out its shares in Robinhood
Alphabet, the parent company of Google (GOOG.O), has liquidated its holdings in Robinhood. Previously, Golden Finance reported that ARK Invest increased its holdings in Robinhood stock by $9.54 million on November 8.
ARK Invest adds 1,141,046 Robinhood shares worth $9.54 million
ARK Invest has significantly increased its holdings in Robinhood (HOOD) stock. Just the day before, the trading platform announced plans to expand in Europe.
ARKK, ARKW, and ARKF purchased a total of 1,141,046 shares of HOOD. Based on Wednesday's closing price of $8.36, the total value of the transaction was $9.54 million. (CoinDesk)
Yesterday, Robinhood stated in its Q3 earnings report that "with an experienced team, we will soon be launching brokerage operations in the UK. As another step in global expansion, we also plan to launch cryptocurrency trading in the UK and then in the EU."
After the SEC's lawsuit against Binance this year, Robinhood removed all crypto assets deemed securities by the SEC. According to financial report data, the platform's Q3 revenue related to cryptocurrency decreased by 55% compared to the same period last year, recording $23 million.
Robinhood’s third-quarter crypto trading revenue fell to $23 million, down 55% from the previous quarter
Robinhood's financial report data shows that the company's cryptocurrency trading revenue in the third quarter decreased significantly to $23 million, a 55% decrease from the previous quarter. In the first quarter of 2023, the company's cryptocurrency trading revenue decreased by about 1% to $38 million. Revenue in the second quarter dropped to $31 million.
Robinhood Now Launches Crypto Trading Services in Nevada
On October 26th, cryptocurrency-friendly brokerage platform Robinhood officially announced that its subsidiary, Robinhood Crypto, has been authorized by the New York State Department of Financial Services to engage in virtual currency business activities and has launched trading and transfer services for 15 types of tokens.
Robinhood Crypto is currently available in every state in the United States except Hawaii.
Robinhood Repurchases Stakes Seized from FTX Founders in $605 Million Deal with US Marshal Service
Robinhood, a crypto trading firm, has repurchased the 55 million shares owned by FTX founders Sam Bankman-Fried and Gary Wang through Emergent Fidelity Technologies, which were seized as part of a criminal case against Bankman-Fried. The shares were transferred to the US in January and were filed to be sold in August. Robinhood paid $605 million to repurchase the shares in an agreement with the US Marshal Service. <br>
Robinhood to buy back shares of SBF's Emergent Fidelity Technologies from the U.S. government for $605.7 million
Odaily Planet Daily News reports that Robinhood has signed an agreement with the US Marshals Service (USMS) to buy back SBF's Emergent Fidelity Technologies shares for $605.7 million. After FTX and Emergent filed for bankruptcy protection last year, Robinhood's shares were seized and subsequently handed over to the US government for safekeeping.
Robinhood Enhances Wallet Capabilities with Bitcoin and Dogecoin Support
Robinhood, the popular financial platform, has expanded its self-custody Web3 wallet to include Bitcoin and Dogecoin networks, allowing users to securely manage, transmit, and receive cryptocurrencies.
Robinhood identified as one of the largest holders of Ethereum, holding $2.54 billion in custody for users
According to Arkham Intelligence, Robinhood is one of the largest holders of ether, with the 5th largest ETH wallet holding $2.54 billion. The funds in the wallet are held in custody for user balances. Robinhood's crypto trading activity has been declining, with second quarter revenue falling to $31 million compared to the first quarter's $38 million. The company has announced that its wallet product will now support custody, send, and receive for Bitcoin and Dogecoin, in addition to Ethereum swaps, in response to user requests.
Robinhood Wallet Adds Bitcoin and Dogecoin Support, In-App Swaps, and More Crypto Networks
Robinhood Wallet has announced the addition of new features to its non-custodial crypto wallet, including support for Bitcoin and Dogecoin, in-app swaps on the Ethereum network, and connection to a range of decentralized applications. <br>
Robinhood Expands Web3 Wallet Support to Bitcoin, Dogecoin
Investment platform Robinhood revealed on Wednesday that users of Robinhood's self-custody Web3 wallet can now use the Bitcoin and Dogecoin networks to custody, send, and receive cryptocurrencies.
