Svoboda | Graniru | BBC Russia | Golosameriki | Facebook
Jump to content

Robinhood Markets

Page extended-protected
From Wikipedia, the free encyclopedia
(Redirected from Robinhood (company))

Robinhood Markets, Inc.
Company typePublic
IndustryFinancial services
FoundedApril 18, 2013; 11 years ago (2013-04-18)
Founders
Headquarters
Menlo Park, California
,
U.S.
Area served
  • United States
  • United Kingdom
Key people
Vladimir Tenev (CEO)
Services
RevenueIncrease US$1.865 billion (2023)
Negative increase US$−536 million (2023)
Negative increase US$−541 million (2023)
Total assetsIncrease US$32.33 billion (2023)
Total equityDecrease US$6.696 billion (2023)
Owners
Number of employees
c. 2,200 (2023)
Websiterobinhood.com
Footnotes / references
[1]

Robinhood Markets, Inc. is an American financial services company headquartered in Menlo Park, California. The company provides an electronic trading platform accessible via mobile app that facilitates commission-free trades of stocks, exchange-traded funds and cryptocurrency, as well as cryptocurrency wallets, credit cards and other banking services.[1] The company's revenue comes primarily from payment for order flow (53% of Q1 2024 revenues), net interest income (primarily from margin lending, interest earned on customers' cash balances, and credit cards; 41% of Q1 2024 revenues), and subscription fees (6% of Q1 2024 revenues).[2][1] The company has 23.9 million funded customers, 13.7 million monthly active users, and $130 billion in assets under custody.[2]

The company is named after Robin Hood, based on its mission to "provide everyone with access to the financial markets, not just the wealthy", with no commissions or minimum account balances.[3][4] The company has been credited for forcing the elimination of trading fees by several stockbrokers.[5][6][7][8] Robinhood has targeted millennials as customers; in 2022, the average age of its customers was 32.[9]

As the majority of the company's revenues are from payment for order flow, described as a kickback, the company has been criticized for routing orders to market makers that pay the most instead of those that offer the best order execution. It has also been criticized for undisclosed markups on cryptocurrency transactions.[10]

History

Co-founder of Robinhood Vladimir Tenev speaks onstage during TechCrunch Disrupt NY 2016 at Brooklyn Cruise Terminal on May 10, 2016, in New York City.

Robinhood was founded in April 2013 by Vladimir Tenev and Baiju Bhatt, who had previously built high-frequency trading platforms for financial institutions in New York City.[3][11] The company's name comes from its mission to "provide everyone with access to the financial markets, not just the wealthy". Tenev noted that executing a trade costs brokerages "fractions of a penny" but they typically charged fees of $5 to $10 per trade, as well as required account minimums of $500 to $5,000.[12][13]

Robinhood co-founder Baiju Bhatt (left) and moderator Josh Constine (right) speak onstage during Day 2 of TechCrunch Disrupt SF 2018 at the Moscone Center on September 6, 2018, in San Francisco, California.

The firm showcased its app publicly for the first time at LA Hacks, first published it on AppStore in December 2014 and then officially launched the app in March 2015.[14]

As of January 2015, 80% of the firm's customers belonged to the "Millennial" demographic and the average customer age was 26.[15] Fifty percent of users who have made a trade use the app daily and 90% use the app weekly.[16] As of 2022, Robinhood had 22.8 million funded accounts and 15.9 million monthly active users.[17]

In April 2017, Robinhood raised $110 million at a $1.3 billion valuation led by Yuri Milner of DST Global, Greenoaks Capital, and Thrive Capital.[18][19]

On May 10, 2018, Robinhood closed a $363 million Series D financing round led by DST Global.[20] As of May 2018, Robinhood raised a total of $539 million in venture capital funding, with the last valuation at $5.6 billion, up from their previous valuation of $1.3 billion.[20]

In February 2018, the company announced that it would be moving its headquarters from Palo Alto to the former headquarters of Sunset magazine in Menlo Park.[21]

In May 2019, reports from Bloomberg and other outlets publicized Robinhood's pursuit of an additional $200 million in funding, which could value the company in the $7 billion to $10 billion range.[22][20] In November 2019, Robinhood announced its expansion to the United Kingdom.[23]

During the 2020 stock market crash, Robinhood trading increased.[24] The subsequent market rise was partially attributed to Robinhood traders, but a study indicated that Robinhood traders had little daily impact on major shares.[25]

In May 2020, it was announced that Robinhood had raised $280 million in venture funding at a pre-money valuation of $8.3 billion led by Sequoia Capital, and 3 months later, the company announced a $200 million Series G funding round from a new investor, D1 Capital Partners, on August 17.[26][27]

In late June 2021, Robinhood was fined $57 million by the FINRA and was ordered to pay $13 million in restitution to clients affected by outages and misleading communications in March 2020. This was the largest-ever FINRA penalty in the history of the organization.[28]

The company went public on the Nasdaq on July 29, 2021, under the stock ticker HOOD. The opening price was $38, but dropped shortly afterwards to a low of $33.35 before starting to recover,[29][30] reaching an all-time high at $85. Subsequently, it fell again after facing growing regulatory uncertainty, Q3 earnings, and disclosing a security breach.[31]

In 2022 Robinhood shrunk staffing levels, which gained widespread media attention. The first wave of layoffs occurred in April, with the company cutting its workforce by 9%. More significant were Robinhood's layoff announcement released simultaneously with its 2022 Q2 earnings on August 2, in which Tenev announced the company would layoff 23% of its workforce, mostly in operations, marketing and program management. From January to August 2022, Robinhood's stock shed 48% of its value.[32]

In August 2022, Robinhood's cryptocurrency division was fined $30 million by the New York State Department of Financial Services for allegedly violating anti-money-laundering and cybersecurity regulations, in the department's first crypto enforcement action.[33]

In May 2022 Alameda Research disclosed a 7.6% share in Robinhood. According to anonymous sources cited by Reuters in November 2022, Alameda used Robinhood shares as part of its collateral for a transfer of at least $4 billion from FTX.[34] Regulators seized the shares during the bankruptcy of FTX, which Robinhood bought back for $10.96 each (at a total cost of $605.7 million).[35][36]

In December 2022 Robinhood launched Individual Retirement Accounts (IRAs), including a 1% match.[37] In April 2023 Robinhood launched Robinhood Connect, creating an integrated on-ramp to crypto wallets.[38]

On 1 May 2023, Robinhood added a bankruptcy tag to AMC stock for three minutes.[39] AMC chairman and CEO Adam Aron said he was considering suing Robinhood for its "incomprehensible incompetence".[40]

On 22 June 2023, Robinhood announced it had agreed to buy X1, a credit card issuance startup that offers a no-fee, income-based credit card with rewards, for $95 million. On completion of the acquisition, X1's co-founders Siddharth Batra and Deepak Rao would oversee Robinhood's new credit card business.[41][42] Later that month, Robinhood announced a further round of layoffs, letting go around 150 employees or about 7% of its staff.[43]

In March 2024, Robinhood was launched in the United Kingdom.[44]

Products

Stock and ETF trading

Robinhood's first product was commission-free trades of stocks and exchange-traded funds.

The company added functionality including instant deposits in February 2016,[45][46] margin trading and market analytics via a subscription business model called Robinhood Gold in September 2016,[47] options trading in December 2017,[48][49] trading in american depositary receipts in August 2018,[50] support for purchasing fractional shares and dividend reinvestment plans in December 2019,[51][52] systematic investment plans in May 2020,[53] access to initial public offering (IPO) shares in May 2021,[54] extended-hours trading in March 2022,[55] securities lending in May 2022,[56] and individual retirement accounts in January 2023.[57][58][59][60]

Cryptocurrency trading

In February 2018, after amassing a waitlist of over 2 million customers, Robinhood launched commission-free cryptocurrency trading of Bitcoin and Ethereum in several states; availability was expanded later that year. By 2021, cryptocurrency trading was available in every U.S. state except Hawaii and Nevada.[61][62][63][64]

By 2021, the company added trading for Bitcoin Cash, Dogecoin, Ethereum Classic, and Litecoin.[65] In September 2021, automatic recurring investments in cryptocurrency was introduced.[66][67]

In April 2022, after amassing a waitlist of over 2 million customers, Robinhood issued cryptocurrency wallets to those on the waitlist, and added trading for Shiba Inu, Solana, Compound, Chainlink and Polygon.[68][69]

Also in April 2022, the company announced integration of Bitcoin's Lightning Network to enable faster transactions involving the cryptocurrency.[70]

In April 2023, Robinhood launched Robinhood Connect, allowing users to trade cryptocurrency using other cryptocurrency wallets.[71]

In June 2023, Robinhood delisted Solana, Cardano and Polygon after the U.S. Securities and Exchange Commission determined that they are unregistered securities and subject to additional regulations.[72][73]

In December 2023, Robinhood expanded its cryptocurrency trading to the European Union.[74][75][76][77]

Robinhood received a Wells notice from the U.S. Securities and Exchange Commission in May 2024 alleging that the company had violated securities laws over crypto tokens traded on its platform; Robinhood countered that cryptocurrencies are not securities and are not covered by securities laws.[78]

Banking

In December 2018, Robinhood launched a waitlist to sign up for new transaction accounts and savings accounts, including debit cards, with market-leading interest rates, which it claimed would be insured by the Securities Investor Protection Corporation (SIPC). However, after the SIPC said that it had not been contacted by Robinhood and that the accounts would not be insured, the company was forced to suspend sign-ups for the new accounts.[79][80][81]

The accounts were finally launched with insurance from the Federal Deposit Insurance Corporation in December 2019.[82][83] In March 2022, Robinhood launched the Robinhood Cash Card, a debit card that allows users to round up purchases and automatically invest the additional amount in stocks and cryptocurrency.[84]

Controversies

Payment for order flow

Bloomberg News reported in October 2018 that Robinhood had received almost half of its revenue from payment for order flow.[85] The company later confirmed this on its corporate website when asked by CNBC.[86] The Wall Street Journal found that Robinhood "appears to be taking more cash for orders than rivals," by up to a 60-to-1 ratio, according to its regulatory filings.[87]

The Financial Industry Regulatory Authority fined Robinhood $1.25 million in December 2019 for failing to ensure that its customers received the best price for orders. All of Robinhood's trades between October 2016 and November 2017 were routed to companies that paid for order flow, and the company did not consider the price improvement which may have been obtained through other market makers.[88] Robinhood was sued in a class-action law suit in December 2020 for failing to disclose that a large portion of its revenue relied on payment for order flow.[89]

On September 2, 2020, the Wall Street Journal reported that Robinhood was under SEC investigation for failing to fully disclose selling clients' orders to high-speed trading firms, with a potential $10 million-plus fine.[90] Robinhood paid $65 million to settle the SEC investigation on December 17, 2020.[91]

Security breaches

In July 2019, Robinhood admitted to storing some customer passwords in cleartext in their internal systems, according to emails it sent to the affected customers. Robinhood declined to say how many customers were affected by the error and claims that it did not find any evidence of abuse.[92] In 2020, the firm found that almost 2,000 Robinhood Markets accounts were compromised and that the hackers had siphoned off customer funds.[93]

In early November 2021 the company announced that about 5 million customers had their email addresses stolen by hackers via a voice phishing scheme. Another 2 million customers's full names were also taken. Three hundred customers had more extensive personal information taken.[94] It is believed that Conor Brian Fitzpatrick, owner of BreachForums, who was behind the 2021 FBI email hack and was arrested by law enforcement in March 2023, was responsible for the breach.[95][96]

Infinite leverage

In November 2019, a user on the WallStreetBets subreddit shared a glitch that allowed Robinhood Gold users to borrow unlimited funds via selling covered calls where the shares had been bought using leverage, and the premium from the call was used to access additional leverage to buy more shares in order to sell more calls and so on. The loophole was closed shortly thereafter and the accounts that exploited it were suspended, but not before some accounts recorded six figure losses by using what WallStreetBets users dubbed the "infinite money cheat code."[97][98][99]

Outages

On Monday, March 2, 2020, Robinhood suffered a systemwide, all-day outage during the largest daily point gain in the Dow Jones' history, preventing users from performing most actions on the platform, including opening and closing positions.[100] During this outage the S&P 500 climbed more than 4.6 percent.[101] Robinhood users postulated that the outage was the result of a coding error regarding leap year handling for Saturday, February 29, 2020. Robinhood denied these claims.[102] Robinhood said that they will offer compensation on a case-by-case basis.[103] Robinhood experienced another major systemwide outage on March 9.[104] Robinhood is currently facing three lawsuits due to outages in March 2020.[105]

Suicide of Alexander E. Kearns

"Alex Kearns" redirects here. For the photographer, see Alex Cearns.

Robinhood faced controversy in June 2020 after University of Nebraska student Alexander E. Kearns committed suicide after seeing a negative cash balance of US$730,000 (equivalent to $859,442 in 2023) in his Robinhood margin trading account. It was later discovered that this was a temporary[clarification needed] negative balance due to unsettled trading activity.[106][107] In his suicide note, Kearns, who was 20 years old at the time of his death, accused Robinhood of allowing him to pile on too much risk.[108] In a press release, Robinhood promised considering additional criteria and education for customers seeking level 3[clarification needed] options authorization.[109][110][111] Kearns' family filed and later settled a wrongful death lawsuit with the company.[112]

Gamification in Massachusetts

On December 16, 2020, the Securities Division of the Massachusetts Secretary of the Commonwealth filed an administrative complaint alleging violation of state securities laws by "marketing itself to Massachusetts investors without regard for the best interests of its customers and failing to maintain the infrastructures and procedures necessary to meet the demands of its rapidly growing customer base."[113] As a result of their gamified interface, the Massachusetts Securities Division contended that Robinhood exploits novice investors.[114] In March 2022, Suffolk County Superior Court declared that the new fiduciary duty rule underlying parts of the case was invalid. The decision did not negate all enforcement action from state regulators, which could still pursue some claims against the company.[115]

2021 short squeeze

Main article: GameStop short squeeze

On January 28, 2021, Robinhood and other retail brokers, including Webull,[116] restricted the trading of certain stocks following an effort by users of the r/wallstreetbets subreddit to drive up their price.[117] Robinhood restricted trading in these stocks in order to meet collateral requirements at their clearinghouse, the National Securities Clearing Corporation.[118][119] This decision attracted condemnation from internet users on the subreddit and on Twitter,[120][121] as well as politicians.[122][123][124] The House Committee on Financial Services questioned Robinhood CEO Vlad Tenev during a hearing on February 18, 2021.[125]

Following the controversy, the app suffered an influx of one-star reviews on the Google Play app store.[126] Google deleted at least 100,000 such reviews, calling them "coordinated or inorganic".[127][128][129] However, after another round of negative reviews on the app dropping it to a 1.1-star rating, Google confirmed that the new reviews do not violate Google policies and will not be removed.[130] Protesters also showed up outside Robinhood headquarters in Menlo Park, California, at the Securities and Exchange Commission headquarters in Washington, D.C., and the New York Stock Exchange.[131]

On January 28, 2021, a class-action lawsuit against Robinhood for alleged market manipulation was filed in the Southern District of New York. The lawsuit alleged that the app “purposefully, willfully, and knowingly removing the stock ‘GME’ from its trading platform in the midst of an unprecedented stock rise [...] deprived retail investors of the ability to invest in the open-market and manipulating the open-market.”[132][133] Later that day, the company announced that it would reallow limited buys of the stocks on January 29.[134] The case was dismissed by the Miami federal court that November, on the grounds that the plaintiffs fell short of providing direct evidence of an antitrust conspiracy.[135]

References

  1. ^ a b c "Robinhood Markets, Inc. 2023 Annual Report (Form 10-K)". U.S. Securities and Exchange Commission. February 27, 2024.
  2. ^ a b "Robinhood Reports First Quarter 2024 Results" (Press release). Globe Newswire. May 8, 2024.
  3. ^ a b Cite error: The named reference forget was invoked but never defined (see the help page).
  4. ^ Cite error: The named reference behind was invoked but never defined (see the help page).
  5. ^ Constine, Josh (October 2, 2019). "Lookout, Robinhood. E*Trade, Schwab, Ameritrade go zero-fee". TechCrunch.
  6. ^ Fitzgerald, Maggie (October 1, 2019). "Charles Schwab is ending commissions on stock trading and the brokerage shares are tanking". CNBC. Archived from the original on November 6, 2019.
  7. ^ Osipovich, Alexander; Beilfuss, Lisa (October 1, 2019). "Schwab Cuts Fees on Online Stock Trades to Zero, Rattling Rivals". The Wall Street Journal. Archived from the original on November 5, 2019.
  8. ^ Rubenstein, David (February 20, 2020). Famed Investor Charles Schwab on The David Rubenstein Show – via YouTube.
  9. ^ Osipovich, Alexander (September 12, 2022). "Robinhood's New Index Gives Insight Into Younger Investors". The Wall Street Journal.
  10. ^ Cite error: The named reference review was invoked but never defined (see the help page).
  11. ^ Carney, Michael (December 28, 2013). "Robinhood gets $3M to take from Wall St. and give to Main St. with its mobile-first, zero-commission brokerage". PandoDaily. Archived from the original on May 13, 2014. Retrieved May 7, 2014.
  12. ^ Touryalai, Halah. "Forget $10 Trades, Meet Robinhood: New Brokerage Targets Millennials With Little Cash". Forbes. Archived from the original on August 6, 2019. Retrieved November 9, 2019.
  13. ^ "Our Story". Robinhood. Archived from the original on November 9, 2019. Retrieved November 9, 2019.
  14. ^ Long, Heather (March 12, 2015). "New Robinhood app offers free trading. Millennials jump in". CNNMoney. Archived from the original on July 17, 2019. Retrieved July 17, 2019.
  15. ^ Huang, Daniel (January 6, 2015). "Young, Poor and Looking to Invest? Robinhood Is the App for That". Wall Street Journal. Archived from the original on September 11, 2017. Retrieved August 4, 2017.
  16. ^ Constine, Josh (September 23, 2014). "Robinhood Raises $13M To Democratize Stock Market With Zero-Commission Trading App". TechCrunch. AOL. Archived from the original on March 18, 2017. Retrieved March 17, 2017.
  17. ^ Cite error: The named reference users was invoked but never defined (see the help page).
  18. ^ Irrera, Anna (April 26, 2017). "Trading startup Robinhood raises $110 million in new funding round". Reuters. Archived from the original on August 28, 2018. Retrieved August 27, 2018.
  19. ^ McBride, Sarah (April 26, 2017). "Robinhood's Stock Trading App Is Valued at $1.3 Billion". Bloomberg News. Archived from the original on May 14, 2017. Retrieved May 14, 2017.
  20. ^ a b c Lynley, Matthew (May 10, 2018). "Free stock trading app Robinhood rockets to a $5.6B valuation with new funding round". TechCrunch. Archived from the original on April 11, 2019. Retrieved April 24, 2019.
  21. ^ Calvey, Mark (February 23, 2018). "Fintech Robinhood leaving Palo Alto for new HQ in former Sunset Magazine site". San Francisco Business Times. American City Business Journals.
  22. ^ "Robinhood Is Set to Raise at Least $200 Million in New Funding". June 7, 2019. Archived from the original on June 2, 2019. Retrieved June 7, 2019.
  23. ^ "Robinhood launches… UK waiting list". TechCrunch. November 20, 2019. Retrieved November 21, 2019.
  24. ^ Reinicke, Carmen (June 15, 2020). "'Credit where credit is due': Robinhood investors called the market bottom, showing 'impeccable' timing, Societe Generale says | Markets Insider". markets.businessinsider.com. Archived from the original on September 17, 2020.
  25. ^ Fox, Matthew (September 1, 2020). "Billionaires keep blaming Robinhood traders for skewing stock prices. But a new study says the upstarts have minimal impact on the overall market. | Markets Insider". markets.businessinsider.com. Archived from the original on September 18, 2020. seasoned investors often blamed them for driving the stock market higher. there was little to no correlation between the one-day change in stock price and the one-day change in the number of Robinhood users holding them
  26. ^ Roberts, Jeff John (May 4, 2020). "Robinhood raises $280 million in push for global expansion". Fortune. Retrieved May 4, 2020.
  27. ^ "Robinhood raises $200M as IPO speculation swirls". Fortune. Retrieved August 23, 2020.
  28. ^ Fitzgerald, Maggie (June 30, 2021). "MARKETS Robinhood to pay $70 million for outages and misleading customers, the largest-ever FINRA penalty". CNBC. Retrieved July 1, 2021.
  29. ^ Fitzgerald, Maggie (July 29, 2021). "Robinhood drops 5% in stock trading app's Nasdaq debut". CNBC. Retrieved July 29, 2021.
  30. ^ Beltran, Luisa (July 28, 2021). "Robinhood Stock Steadies After an Early Tumble". Barron's. Retrieved July 29, 2021.
  31. ^ Is Robinhood Stock A Buy Right Now After Plunging On Q3 Earnings? (Investors Business Daily) https://www.investors.com/research/robinhood-hood-stock-buy-now/
  32. ^ Capoot, Ashley (August 2, 2022). "Robinhood cutting about 23% of jobs, releases second quarter earnings". CNBC. Retrieved August 2, 2022.
  33. ^ Sun, Mengqi (August 2, 2022). "Robinhood's Crypto Unit Fined $30 Million by New York's Top Financial Regulator". The Wall Street Journal.
  34. ^ Berwick, Angus; Wilson, Tom (November 10, 2022). "Exclusive: Behind FTExclusive: Behind FTX's fall, battling billionaires and a failed bid to save crypto". Retrieved November 13, 2022.
  35. ^ Hughes, Jennifer (February 8, 2023). "Robinhood seeking to buy back stock seized from FTX founder Sam Bankman-Fried". Financial Times. Retrieved May 1, 2023.
  36. ^ Saini, Manya; Lang, Hannah (September 1, 2023). "Robinhood to buy back Bankman-Fried's stake from US govt for $605.7 million". Reuters. Retrieved November 22, 2023.
  37. ^ Rudegeair, Peter. "Robinhood Wants Your Retirement Money". The Wall Street Journal. Retrieved May 1, 2023.
  38. ^ "Robinhood to let customers buy crypto using outside wallets and apps: 'Our conviction in the future of Web3 remains strong'". Fortune Crypto. Retrieved May 1, 2023.
  39. ^ "AMC CEO Says Robinhood is 'Irresponsible' For False Bankruptcy Report". The Wall Street Journal. Retrieved May 2, 2023.
  40. ^ Glover, George. "Robinhood mistakenly told its users that AMC had filed for bankruptcy". Markets Insider. Retrieved May 2, 2023.
  41. ^ "Robinhood to buy fintech firm X1". Reuters. June 22, 2023.
  42. ^ "Robinhood to Buy Credit Card Company X1 for $95 Million (1)". news.bloomberglaw.com. Retrieved June 22, 2023.
  43. ^ Li, Roland (June 27, 2023). "S.F. tech layoffs: Uber, Robinhood and two other companies cut hundreds of jobs". San Francisco Chronicle.
  44. ^ "Robinhood goes live in the UK". Yahoo Finance. March 20, 2024. Retrieved April 26, 2024.
  45. ^ Constine, Josh (February 23, 2016). "Robinhood Ditches 3-Day Wait, Fronts New Users $1000 To Buy Stocks". TechCrunch.
  46. ^ KOKALITCHEVA, KIA (February 23, 2016). "Get Instant Gratification With This Millennial-Friendly Stock Investing App". Fortune.
  47. ^ Constine, Josh (September 29, 2016). "Free stock trade app Robinhood monetizes with $10/month to buy on credit". TechCrunch.
  48. ^ "Robinhood Launches Commission-Free Options Trading" (Press release). Business Wire. December 13, 2017.
  49. ^ Chaparro, Frank (December 13, 2017). "Robinhood is launching a free options trading product for its users". Business Insider.
  50. ^ Shieber, Jonathan (August 28, 2018). "Robinhood gives investors international targets to aim for with launch of ADR products". TechCrunch.
  51. ^ Rooney, Kate (December 12, 2019). "Robinhood joins a wave of fractional stock-trading offers to bring investing to the masses". CNBC. Archived from the original on December 12, 2019.
  52. ^ Egan, Matt (December 13, 2019). "This app completely disrupted the trading industry". CNN.
  53. ^ Abdel-Qader, Aziz (June 10, 2020). "Robinhood Launches 'Recurring Investments' to All Customers". Finance Magnates.
  54. ^ Fitzgerald, Maggie (May 20, 2021). "Robinhood will give retail investors access to IPO shares, a longstanding Wall Street realm". CNBC.
  55. ^ Fitzgerald, Maggie (March 29, 2022). "Robinhood adds four additional hours to extended trading for clients". CNBC.
  56. ^ Goodkind, Nicole (May 10, 2022). "Robinhood is introducing a stock lending program. What could go wrong?". CNN.
  57. ^ Suknanan, Jasmin (July 30, 2023). "Robinhood introduces IRAs that will match your contributions — how does it fit into your plan for retirement?". CNBC.
  58. ^ Rudegeair, Peter (January 12, 2023). "Robinhood Wants Your Retirement Money". The Wall Street Journal.
  59. ^ "The Wait(list) is Over – Robinhood Retirement is Now Available to All Eligible Customers" (Press release). Globe Newswire. January 12, 2023.
  60. ^ Pino, Ivana (December 6, 2022). "Robinhood launches retirement waitlist for first-ever IRA with a 1% match". Fortune.
  61. ^ Parrish, Kevin (February 22, 2018). "Robinhood lures digital coin traders from Coinbase with a free service". Digital Trends. Archived from the original on May 18, 2018.
  62. ^ Cheng, Evelyn (January 25, 2018). "Stock trading app Robinhood to launch bitcoin, ethereum trading in five states". CNBC. Archived from the original on January 25, 2018.
  63. ^ Roberts, Jeff John (January 25, 2018). "Robinhood, the Investing App for Millennials, to Add Bitcoin and Other Cryptocurrencies". Fortune. Archived from the original on January 25, 2018.
  64. ^ Verhage, Julie (February 22, 2018). "Robinhood Opens Cryptocurrency Trading". Bloomberg News. Archived from the original on April 29, 2018.
  65. ^ Azevedo, Mary Ann (April 8, 2021). "Crypto trading on Robinhood spiked to 9.5M customers in first quarter". TechCrunch.
  66. ^ Blasi, Weston (September 21, 2021). "Robinhood to allow recurring investments in cryptos like bitcoin, ethereum and dogecoin". MarketWatch.
  67. ^ Newbery, Emma (March 31, 2021). "Robinhood Plans to Launch a Crypto Wallet 'as Fast as Possible'". The Motley Fool.
  68. ^ Grothaus, Michael (April 4, 2022). "Robinhood crypto wallet: 2 million customers can now do more with their coins". Fast Company.
  69. ^ Ehrlich, Steven (April 12, 2022). "Robinhood Adds Shiba Inu, Solana, Polygon, And Compound To Its Crypto Offerings". Forbes.
  70. ^ Hollerith, David (April 7, 2022). "Robinhood becomes latest to integrate Bitcoin's Lightning Network". Yahoo! Finance.
  71. ^ "Robinhood to let customers buy crypto using outside wallets and apps: 'Our conviction in the future of Web3 remains strong'". Fortune. April 27, 2023.
  72. ^ WEISS, BEN (June 9, 2023). "Robinhood to delist tokens for Solana, Cardano, and Polygon after SEC suits name them as securities". Fortune.
  73. ^ TOPPA, SABRINA (June 13, 2023). "Robinhood to Delist Tokens Declared Securities by the SEC". TheStreet.com.
  74. ^ Browne, Ryan (December 7, 2023). "Robinhood launches crypto trading service in the EU". CNBC.
  75. ^ Nishant, Niket; Rajan, Gnaneshwar; Kaur, Baranjot (December 7, 2023). "Robinhood expands crypto trading to more-regulated European Union". Reuters.
  76. ^ Liao, Rita (December 7, 2023). "Following UK expansion, Robinhood brings crypto trading to EU". TechCrunch.
  77. ^ Goss, Louis (December 7, 2023). "Robinhood launches EU crypto-trading app in renewed push for global expansion". MarketWatch.
  78. ^ Yasmin, Mehnaz (May 6, 2024). "Robinhood Crypto gets Wells notice from US SEC". Reuters.
  79. ^ Passy, Jacob (January 2, 2019). "Robinhood quietly stops users from signing up for cash accounts amid scrutiny from regulators". MarketWatch. Archived from the original on January 24, 2019.
  80. ^ Passy, Jacob (December 13, 2018). "Robinhood tempts savers with 3% interest on checking accounts — but regulatory stop sign reveals a clumsy rollout". MarketWatch. Archived from the original on December 21, 2019.
  81. ^ Constine, Josh (December 14, 2018). "Robinhood said to not be properly insured to offer checking & savings". TechCrunch. Archived from the original on December 14, 2018.
  82. ^ Rooney, Kate (October 8, 2019). "Robinhood makes second attempt at launching a high-yield account similar to banks". CNBC. Archived from the original on October 8, 2019.
  83. ^ Peters, Jay (December 12, 2019). "Robinhood launches cash management feature a year after bungling its checking account launch". The Verge. Archived from the original on December 12, 2019.
  84. ^ Vincent, James (March 22, 2022). "Robinhood's new debit card will automatically invest in stocks and crypto as you spend". The Verge.
  85. ^ Foxman, Simone (October 16, 2018). "Robinhood Gets Almost Half Its Revenue in Controversial Bargain With High-Speed Traders". Bloomberg. Archived from the original on January 19, 2019. Retrieved January 18, 2019.
  86. ^ "CNBC: How Robinhood Makes Money". CNBC. January 16, 2019. Archived from the original on January 18, 2019. Retrieved January 18, 2019.
  87. ^ Beilfuss, Alexander Osipovich and Lisa (November 9, 2018). "Why 'Free Trading' on Robinhood Isn't Really Free". The Wall Street Journal. Archived from the original on August 15, 2019. Retrieved August 24, 2019.
  88. ^ Matt Robinson (December 19, 2019). "Robinhood Fined $1.25 Million Over How It Routed Customer Orders". Bloomberg. Archived from the original on January 2, 2020. Retrieved January 2, 2020.
  89. ^ "Robinhood Financial Hit With Class-Action Suit for Selling Stock Orders". Bloomberg. December 24, 2020. Retrieved December 24, 2020.
  90. ^ Cite error: The named reference wsj.com was invoked but never defined (see the help page).
  91. ^ "File No. 3-2017, In the matter of: Robinhhood Financial, LLC, Respondent" (PDF). December 17, 2020. Retrieved December 17, 2020.
  92. ^ Cimpanu, Catalin. "Robinhood admits to storing some passwords in cleartext". ZDNet. Archived from the original on August 1, 2019. Retrieved August 24, 2019.
  93. ^ Alexander, Sophie (October 15, 2020). "Robinhood Internal Probe Finds Hackers Hit Almost 2,000 Accounts". Bloomberg. Retrieved November 19, 2020.
  94. ^ Rudegeair, Peter (November 8, 2021). "Robinhood Hack Exposes Millions of Customer Names, Email Addresses". The Wall Street Journal. Retrieved November 9, 2021.
  95. ^ Abrams, Lawrence (November 15, 2021). "7 million Robinhood user email addresses for sale on hacker forum". BleepingComputer. Retrieved May 17, 2022.
  96. ^ Roth, Emma (March 18, 2023). "Feds arrest alleged BreachForums owner linked to FBI hacks". The Verge. Retrieved March 18, 2023.
  97. ^ Rooney, Kate (November 5, 2019). "'Infinite leverage' — some Robinhood users have been trading with unlimited borrowed money". CNBC. Archived from the original on November 8, 2019. Retrieved November 9, 2019.
  98. ^ Brandon Kochkodin (November 5, 2019). "Robinhood Traders Discovered a Glitch That Gave Them 'Infinite Leverage'". Bloomberg. Archived from the original on December 11, 2019. Retrieved January 2, 2020.
  99. ^ GmbH, finanzen net. "The jig is up: Robinhood says it's closed the 'infinite leverage' loophole that allowed users to build positions worth millions | Markets Insider". markets.businessinsider.com. Retrieved November 9, 2019.
  100. ^ Verhage, Julie (March 2, 2020). "Robinhood Suffers Online Outage With U.S. Stocks Rebounding". Bloomberg. Retrieved March 2, 2020.
  101. ^ "Bloomberg - Robinhood Is Raising New Funds at About $8 Billion Value, Sources Say". Bloomberg. April 16, 2020. Retrieved May 10, 2020.
  102. ^ "Robinhood suffers prolonged outage on the day the Dow enjoyed its single biggest point gain". TechCrunch. Retrieved March 2, 2020.
  103. ^ "Down again, Robinhood will offer 'case-by-case' compensation for its outage on the day markets gained $1.1 trillion". TechCrunch. March 3, 2020. Retrieved March 5, 2020.
  104. ^ GmbH, finanzen net. "Robinhood crippled by another major outage as markets absorb historic sell-off | Markets Insider". markets.businessinsider.com.
  105. ^ "Robinhood Faces Three Lawsuits Over Outages". Financial Advisor IQ.
  106. ^ Klebnikov, Sergei (June 17, 2020). "20-Year-Old Robinhood Customer Dies By Suicide After Seeing A $730,000 Negative Balance". Forbes. Retrieved June 18, 2020.
  107. ^ Celine, Tiziana (June 18, 2020). "College Student Commits Suicide After Online Trading Platform Robinhood Showed His Negative $730,000 Debt". TechTimes. Retrieved June 18, 2020.
  108. ^ Khorram, Yasmin; Rooney, Kate (June 18, 2020). "Young trader dies by suicide after thinking he racked up big losses on Robinhood". CNBC. Retrieved June 19, 2020.
  109. ^ Bhatt, Baiju; Tenev, Vlad (June 19, 2020). "Commitments to Improving our Options Offering" (Press release). Robinhood. Retrieved June 20, 2020.
  110. ^ Rooney, Kate (June 19, 2020). "Robinhood increases guardrails on options trading in the wake of a customer suicide". CNBC. Retrieved June 20, 2020.
  111. ^ Zarroli, Jim (August 11, 2020). "Millions Turn To Stock Trading During Pandemic, But Some See Trouble For The Young". NPR. Archived from the original on February 7, 2021. Retrieved August 11, 2020.
  112. ^ Egan, Egan (July 1, 2021). "Robinhood settles lawsuit over 20-year-old trader who died by suicide". CNBC.
  113. ^ "Docket No. E-2020-0047, In the matter of: Robinhood, LLC, Respondent" (PDF). December 16, 2020. Retrieved December 16, 2020.
  114. ^ Randall, Clark (December 16, 2020). "Massachusetts regulator accuses Robinhood of failing to protect investors". Reuters. Retrieved March 29, 2023.
  115. ^ Raymond, Nate (March 30, 2022). "In win for Robinhood, judge declares Massachusetts investment advice rule invalid". Reuters. Retrieved August 18, 2022.
  116. ^ Crowley, James (January 28, 2021). "Webull follows Robinhood in blocking GameStop, AMC trades after being suggested as alternate trading platform". Newsweek.
  117. ^ Mackenzie, Michael (January 29, 2021). "Robinhood raises $1bn from investors and taps banks at end of wild week". www.ft.com. Retrieved June 28, 2021.
  118. ^ "The real story behind Robinhood's decision to restrict GameStop trading—and that 4am call to put up $3 billion". Fortune. Retrieved June 28, 2021.
  119. ^ Demos, Telis (January 30, 2021). "Why Did Robinhood Ground GameStop? Look at Clearing". The Wall Street Journal. ISSN 0099-9660. Retrieved June 28, 2021.
  120. ^ Fitzgerald, Maggie (January 28, 2021). "Robinhood restricts trading in stock and options of GameStop, other names involved in frenzy". CNBC. NBCUniversal. Retrieved January 28, 2021.
  121. ^ Gartenberg, Chaim (January 28, 2021). "Robinhood blocks purchase of GameStop, AMC, and BlackBerry stock". The Verge. Vox Media. Retrieved January 28, 2021.
  122. ^ Sheth, Sonam; Relman, Eliza (January 28, 2021). "'You almost had me murdered 3 weeks ago': AOC rejects Ted Cruz's support for her criticism of Robinhood". Business Insider.
  123. ^ "AOC, Ted Cruz slam Robinhood for freezing some trades amid GameStop volatility". TechCrunch.
  124. ^ Shepardson, David (January 28, 2021). "At odds over many things, U.S. lawmakers AOC and Ted Cruz agree on Robinhood probe". Reuters.
  125. ^ Matt Egan, Brian Fung and Clare Duffy (February 18, 2021). "Robinhood and Reddit CEOs testify before House committee: Live updates". CNN. Retrieved June 28, 2021.
  126. ^ Akhtar, Ben Gilbert, Allana. "Robinhood users are revolting against the trading app after it stopped trades of GameStop". Business Insider.{{cite news}}: CS1 maint: multiple names: authors list (link)
  127. ^ Klar, Rebecca (January 29, 2021). "Google deletes negative reviews of Robinhood app". The Hill. Retrieved January 30, 2021.
  128. ^ Manskar, Noah (January 29, 2021). "Google deletes thousands of negative Robinhood app reviews". New York Post. Retrieved January 30, 2021.
  129. ^ Novak, Matt (January 29, 2021). "Google Deletes 100,000 Negative Reviews of Robinhood App From Angry Users". Gizmodo. Retrieved January 29, 2021.
  130. ^ Gartenberg, Chaim (February 1, 2021). "Robinhood plummets back down to a one-star rating on Google Play". The Verge. Retrieved February 3, 2021.
  131. ^ Manfredi, Lucas (January 28, 2021). "Protesters gather at Robinhood HQ, SEC, NYSE". Fox Business. Archived from the original on January 29, 2021. Retrieved January 29, 2021.
  132. ^ Zilbermints, Regina (January 28, 2021). "Class-action lawsuit filed against Robinhood for restricting trading". The Hill. Retrieved January 28, 2021.
  133. ^ Hodjat, Arya (January 28, 2021). "Robinhood Hit With Class Action Suit for Muzzling GameStop Uprising". The Daily Beast.
  134. ^ Morrow, Allison (January 28, 2021). "Robinhood, facing backlash, will allow limited buys on stocks it had restricted". CNN. Retrieved January 28, 2021.
  135. ^ Stempel, Jonathan (November 30, 2021). "Robinhood, others win dismissal of meme stock 'short squeeze' lawsuit". Reuters. Retrieved August 23, 2023.
  • Official website Edit this at Wikidata
  • Business data for Robinhood Markets, Inc.:
Retrieved from "https://en.wikipedia.org/w/index.php?title=Robinhood_Markets&oldid=1242308725"