$109,509.00
0.19%$2,796.61
4.35%$2.29
0.46%$670.06
1.37%$166.65
5.09%$0.999773
-0.00%$0.201955
5.62%$0.290495
1.46%$0.724808
4.17%$2,794.77
4.28%$42.55
8.80%$109,445.00
0.23%$3,369.67
4.55%$3.51
3.48%$15.43
6.39%$22.40
3.25%$444.64
5.98%$0.282318
3.21%$9.05
2.44%$3.27
-0.91%$0.00001341
3.37%$0.180327
1.95%$2,795.50
4.30%$2,989.25
4.36%$0.999801
0.01%$91.79
1.64%$4.32
4.71%$340.54
2.98%$1.001
0.02%$1.001
-0.03%$4.86
2.40%$0.00001294
1.00%$8.41
17.63%$109,508.00
0.24%$0.642611
0.73%$311.67
7.21%$31.24
-1.12%$421.38
-3.14%$1.18
-0.03%$6.23
4.78%$2.65
4.78%$5.13
4.46%$53.59
1.59%$0.101724
1.68%$1.00
0.00%$201.34
5.10%$0.900767
3.15%$18.40
3.72%$1.055
-0.00%$31.36
-0.37%$0.089927
-0.27%$0.680625
3.27%$18.49
0.86%$0.02602663
3.75%$11.02
2.83%$0.361059
6.31%$0.99953
-0.05%$0.808013
1.44%$4.04
0.77%$4.61
4.46%$0.225326
3.69%$0.407727
11.05%$109,252.00
0.49%$0.08981
11.51%$4.45
0.48%$1.17
2.39%$2.73
5.14%$0.207288
4.16%$122.36
-0.75%$2,798.67
4.45%$4.63
2.34%$0.998671
0.03%$0.507662
6.49%$2.21
4.00%$1.58
14.77%$176.01
5.09%$0.99996
0.00%$1.001
0.18%$11.41
0.51%$2.12
7.21%$0.00001782
3.28%$1.36
9.90%$13.60
-0.60%$3,180.29
4.52%$2,924.74
4.53%$0.398228
2.53%$1.25
0.57%$0.01850616
0.64%$0.719192
10.79%$4.11
-0.76%$0.068447
11.63%$0.207655
5.91%$0.714784
3.01%$2,981.54
4.44%$0.999909
-0.03%$0.65122
11.99%$1.015
-1.90%$109,502.00
0.80%$1.00
0.02%$2,928.72
4.51%$0.999349
-0.01%$0.536868
1.44%$0.713296
3.34%$0.101204
4.71%$0.164163
20.67%$2,938.61
4.49%$0.00009491
5.64%$670.25
1.27%$109,475.00
0.25%$0.977175
12.54%$185.85
5.31%$109,958.00
0.75%$2.58
4.66%$3,346.78
0.42%$51.02
0.33%$0.815833
2.48%$3,356.84
0.35%$24.36
11.43%$216.41
5.14%$0.01777414
4.11%$2.29
20.51%$0.196363
4.19%$0.129225
3.62%$0.0153407
0.94%$0.301653
3.55%$4.54
3.90%$0.01163768
5.28%$2.52
3.43%$0.536743
1.29%$0.00000072
1.34%$1.11
0.04%$111.38
0.01%$34.33
0.78%$0.999585
-0.03%$0.660274
1.96%$0.625568
4.52%$0.395576
4.36%$2,794.46
4.25%$2.01
0.01%$0.997391
-0.00%$109,078.00
0.48%$42.58
8.63%$1.74
0.67%$0.228347
-0.93%$2,940.52
4.78%$1.094
-1.57%$2,795.86
4.35%$2.02
-1.33%$0.725624
0.48%$2,980.60
4.41%$0.058092
1.16%$0.999812
-0.00%$0.302013
4.00%$60.84
16.55%$3,021.80
4.54%$2.99
0.25%$0.54415
8.95%$1.35
12.38%$0.498502
16.85%$9.35
-9.51%$109,546.00
0.37%$0.01536508
1.17%$109,242.00
0.36%$2,795.54
4.32%$0.201774
5.66%$1.62
7.13%$0.993841
-0.57%$0.590963
7.99%$0.145246
4.41%$0.409249
1.93%$0.444109
-4.31%$7.28
6.08%$0.60262
7.27%$0.500654
-17.37%$0.64996
11.87%$0.00471898
0.28%$42.53
8.55%$0.00002289
2.95%$16.03
2.59%$6.44
3.33%$2.79
9.74%$1.60
5.00%$2,792.77
4.46%$0.04922938
-0.19%$1.34
3.08%$0.061316
-0.05%$106,509.00
1.54%$0.085337
-0.23%$0.169527
8.19%$0.999989
-0.06%$0.999801
-0.00%$0.172946
7.56%$0.0000011
0.02%$0.00000043
1.77%$0.00460378
7.76%$1.74
-0.56%$0.00727958
-0.50%$2,967.05
4.38%$36.91
0.75%$1.09
-0.79%$0.991025
0.62%$0.402277
2.55%$0.999831
0.00%$0.04058517
3.17%$3,079.69
4.32%$0.01991058
1.93%$0.584625
2.83%$1.40
3.38%$1.00
-0.01%$3,050.84
4.26%$0.07921
4.27%$0.364317
2.78%$2,795.39
4.29%$0.00682103
1.79%$109,459.00
0.22%$181.16
5.22%$0.831713
1.93%$0.03498487
3.06%$22.40
3.31%$108,531.00
0.11%$129.07
3.36%$0.0000623
2.09%$0.0040425
1.34%$0.225366
3.85%$2,797.69
4.48%$8.08
-0.23%$0.735349
2.14%$19.85
-0.44%$0.00390227
-5.73%$0.693142
3.86%$0.999787
0.01%$0.225619
5.41%$0.998478
-0.13%$0.00444647
0.05%$0.02007007
4.74%$0.00342966
2.42%$0.999803
-0.01%$2.50
1.32%$0.498865
3.23%$0.304947
-0.29%$27.08
3.11%$0.120355
-3.76%$0.00000142
-3.78%$109,705.00
0.01%$0.287805
-0.89%$17.28
3.69%$1.008
-0.34%$3.08
9.58%Reading
Robinhood, the beleaguered stock-trading app whose gamified user interface brought crypto and “meme-stock” trading into the mainstream last year, is laying off 23 percent of its staff, the company announced Tuesday.
The decline in the value of cryptocurrencies, along with inflation, were among the causes, the company said.
Robinhood Crypto CTO Johann Kerbrat talks to Decrypt's Kate Irwin at Bitcoin Miami 2022 about Robinhood's new Lightning Network integration, potential NFT plans, and Kerbrat's personal history with crypto, including mining Bitcoin back in 2010.
It’s the second time in almost as many months that Robinhood has had to jettison staff. In April, citing similar “microenvironmental” factors, the company laid off nine percent of its employees, acknowledging that its projections and subsequent hiring spree did not ultimately square up to reality.
The company had grown around sixfold during the crypto boom lasting from 2020 to early 2022, bringing its employee count from 700 to 3,800.
Customer activity slowed, however, as crypto markets declined, and the company’s share price and revenue went kaput, both dropping by around half since this time last year, according to second-quarter earnings revealed alongside the layoffs.
That first round of layoffs “did not go far enough,” acknowledged CEO Vlad Tenev in Tuesday’s statement to employees. He added that the company now plans to introduce a “flattened” hierarchy centered around general managers, reducing “cross-functional dependencies” and duplicate roles.
“Last year, we staffed many of our operations functions under the assumption that the heightened retail engagement we had been seeing with the stock and crypto markets in the COVID era would persist into 2022,” wrote Tenev. “In this new environment, we are operating with more staffing than appropriate. As CEO, I approved and took responsibility for our ambitious staffing trajectory—this is on me.”
In April, Robinhood claimed to have around $6 billion in cash, and its growing cryptocurrency trading unit reportedly netted it $54 million in revenue that same month.
That feature, though popular, has nevertheless attracted scrutiny. On Tuesday, Robinhood was slapped with a $30 million fine by the New York Department of Financial Services; the department determined that Robinhood had failed to comply with anti-money laundering regulations required of crypto asset vendors.
Crypto exchange Bullish has submitted paperwork for an initial public offering to the Securities and Exchange Commission, according to a report from the Financial Times, citing sources familiar. The move marks its second bid to go public, following an initial attempt in a $9 billion merger with a special purpose acquisition company, Far Peak, in July 2021. Those prospects went dim by late 2022, with aspirations later called off due to prevailing “time constraints and market conditions.” These T...
About three in five Fortune 500 companies are working on blockchain initiatives, Coinbase found in its State of Crypto second quarter report based on questions posed to executives from these firms. Roughly half the participants said that their companies had increased spending on blockchain while one in five said it was a key part of their firms' strategies, although many also expressed concerns about regulation. "So, the future of money is here and it has only just begun," the report said. "But...
American Bitcoin, a bitcoin mining firm backed by Donald Jr. and Eric Trump, has amassed 215 Bitcoin since its debut in April, according to a recent disclosure from the company to the U.S. Securities and Exchange Commission. In a filing dated June 6, the digital asset mining firm disclosed it had 215 Bitcoin in its reserves as of May 31. The tokens are worth $23.7 million based on current prices. Bitcoin was recently trading at $110,300, according to the same data provider, CoinGecko’s data sho...
