HomeTech NewsRobinhood's Shareholders: Are Crypto Wallets Coming and Do We Get Hoodies?

Robinhood’s Shareholders: Are Crypto Wallets Coming and Do We Get Hoodies?

When Robinhood Markets stories quarterly monetary outcomes on Wednesday for the primary time since going public, its retail shareholders wish to know when cryptocurrency wallets are coming and whether or not they may get branded hoodies, in response to Say Applied sciences.

Robinhood, which stated it reserved as much as 35 % of the shares in its July 29 market debut for its customers, introduced final week it was shopping for Say, a platform that crowdsources questions from retail traders and permits them to work together with corporations they put money into throughout occasions like earnings calls.

On Tuesday afternoon, the highest query on Say for Robinhood, with 1.6 thousand votes, was whether or not the brokerage was getting a cryptocurrency pockets, which might permit customers to withdraw and switch cryptocurrencies to and from different brokerages.

Cryptocurrency buying and selling has fueled a big a part of Robinhood’s latest development, with greater than 9.5 million prospects buying and selling about $88 billion (roughly Rs. 6,53,720 crores) of cryptocurrency on the platform within the first quarter, in response to a latest regulatory submitting. Crypto property have grown 23-fold between March 31, 2020 and the top of this 12 months’s first quarter, the submitting stated.

The second query was on Robinhood’s plans to launch the app in different international locations, whereas the third requested if the corporate would permit customers to call beneficiaries or undertake options corresponding to a number of accounts and joint accounts.

Working a detailed fourth: “as preliminary investor, can we get a robinhood hat and hoody jacket?”

The corporate expects to report income of between $546 million (roughly Rs. 4,055 crores) and $574 million (roughly Rs. 4,260 crores) for the three months ended June 30, versus $244 million (roughly Rs. 1,810 crores) a 12 months earlier, in response to an up to date submitting.

The achieve was pushed largely by a rise in funded accounts, in addition to increased choices and cryptocurrency buying and selling ranges, offset by a lower in equities buying and selling, Robinhood stated.

© Thomson Reuters 2021

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