Yesterday, Robinhood filed for IPO, listing at $100 million. The app has about 17.7 million monthly active users, and about $80 billion in assets under management. Interestingly, Robinhood has Reddit traders to thank for much of its recent success. In fact, Robinhood disclosed, “34 percent of our cryptocurrency transaction-based revenue was attributable to transactions in Dogecoin.”
This news came after FINRA fined Robinhood for nearly $70 million for damages that caused “widespread and significant” harm to customers. You win some, you lose some, I guess?
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