The popular investing app wants to time its initial public offering with people returning from the Independence Day holiday next month.
eToro's move helped dogecoin soar to record highs in early May, generating publicity for the $9.6 billion trading app.
The trading app is targeting late June for its public trading debut, according to Bloomberg.
"Calling most of the folks in the Reddit mob 'retail investors' is a misnomer. They are engaging in speculative activity," one expert said.
Brown, who joined Robinhood as a senior product manager in 2017, will oversee all crypto operations and compliance, the company said.
Investors can also place orders in smaller amounts of bitcoin and ether, Robinhood said in an update on Tuesday.
Robinhood, which has filed to go public through an IPO, said the regulator's move is "elitist and against everything we stand for."
The boom in retail trading has raised the profile of Reddit as a source of stock-picking tips in the months following the GameStop frenzy.
Kevin O'Leary says he believes Robinhood's Vlad Tenev is trying "to stop young people...from blowing themselves up" with risky trading strategies.
Yellen said regulators are looking in detail at January’s Reddit-fuelled market frenzy. They will make policy decisions, including the possibility of new regulations, from those facts. Despite the volatility, the infrastructure of the markets “performed well,” she said. Visit the Business section of Insider for more stories. Treasury Secretary Janet […]
Robinhood is looking to raise $US1 billion of debt as it struggles to keep up with orders for heavily shorted stocks,Reuters reported Tuesday. Discussions with banks include possibly expanding existing credit lines or arranging new ones. The financing is separate from the $US3.4 billion infusion the online brokerage raised from […]
An army of Reddit traders unleashed a spectacular short-squeeze on GameStop stock and others. Hedge funds will likely swallow multibillion-dollar losses and the regulators are watching. The Bank of England may give a glimpse of what’s in its toolbox, including negative rates. Visit Business Insider’s homepage for more stories. This […]
Robinhood bosses removed information about how the firm made money after becoming aware of a best-selling book that depicted how its practices can hurt inexperienced investors, a SEC complaint said. The firm stopped disclosing how it made money from trades after Michael Lewis’ 2014 exposÃ© on high-frequency trading in a […]
Nearly 40,000 Robinhood accounts added shares of Tesla during a four-hour period on Monday, Bloomberg reported, citing data from Robintrack.net. The automaker’s stock went on a wild ride Monday, gaining as much as 16% at one point before falling and closing down 3%. Now, Tesla is the 10th most popular […]
Markets rebounded in May from March lows as investors looked to economic reopenings following lockdowns to contain the spread of coronavirus. Investors continued to pile into some of their favourite stocks, in sectors including technology, entertainment, and food. Here are the top five stocks traded on the social and investing […]
Robinhood users have been adding Tesla to their holdins despite an extremely difficult time for the electric-car maker, according to data from the Robinhood trading app. The number of accounts holding Tesla shares on the app increased even as analysts and shareholders have been questioning demand prospects for the company’s […]