Latest Blockchain news from around the world

Robinhood (HOOD) Discloses Subpoena Over Cryptocurrency Listings


Information and analysis earlier than you hear about it on CNBC and others. Declare your 1-week free trial to StreetInsider Premium right here.

Robinhood (NASDAQ: HOOD) disclosed in a submitting:

These and different occasions might negatively influence the willingness of our current clients, and potential new clients, to do enterprise with us, which might adversely have an effect on our buying and selling volumes and variety of funded accounts, in addition to our capability to recruit and retain personnel, any of which might have an adversarial impact on our enterprise, monetary situation, and outcomes of operations, in addition to the buying and selling worth of our Class A standard inventory. As an example, on November 8, 2022 (the day that FTX Buying and selling Ltd. (“FTX”), a serious worldwide cryptocurrency trade, halted all non-fiat buyer withdrawals from its platform), the intra-day buying and selling worth of our Class A standard inventory fell as a lot as 18%. And in December 2022, shortly after FTX filed for chapter on November 11, 2022, and following the bankruptcies of a number of different main cryptocurrency buying and selling venues and lending platforms earlier in 2022, together with Three Arrows Capital, Ltd., Voyager Digital Holdings, Inc., and Celsius Community LLC (“Celsius”) (collectively, the “2022 Crypto Bankruptcies”), we obtained an investigative subpoena from the SEC concerning, amongst different matters, RHC’s cryptocurrency listings, custody of cryptocurrencies, and platform operations.

Leave A Reply

Your email address will not be published.