Popular trading application Robinhood announced on Tuesday, November 7, that the company is now seeking an expansion to Europe in the coming weeks. Additionally, the firm is also looking to set up its brokerage operations in the United Kingdom. Robinhood’s Crypto Volumes Slide On...
Popular trading application Robinhood announced on Tuesday, November 7, that the company is now seeking an expansion to Europe in the coming weeks. Additionally, the firm is also looking to set up its brokerage operations in the United Kingdom.
Robinhood’s Crypto Volumes Slide
On Tuesday, November 7, the commission-free trading app announced its third-quarter results announcing a revenue miss. Robinhood said that the lower crypto volumes on the platform were responsible for dragging down its transaction-based revenue.
In the after-market hours on Tuesday, the Robinhood stock (NASDAQ: HOOD) price came crashing down by a staggering 8%.
Expanding in the Crypto Landscape
Robinhood offers users the ability to trade various cryptocurrencies, including Bitcoin, Ethereum, Dogecoin, and Shiba Inu tokens, as stated on its website. Primarily catering to small traders, the company saw a surge in crypto investment interest during the pandemic.
This was during the time when the US SEC was going after altcoins calling them security tokens. Being an regulated exchange, Robinhood aims to avoid any conflict with the federal securities regulator.