BusinessDOGEdogecoinGameStopgmerobinhoodWall Streetwallstreetbets

Robinhood Expanding Crypto Services, Slams Coinbase

Robinhood CEO Vlad Tenev announced that the company would list more cryptocurrencies and hire extra crypto staff. The expansion comes in the wake of a major controversy surrounding the company’s delisting of various “meme stocks,” leading to accusations of Wall Street collusion.

Robinhood Reveals Crypto Ambitions
In a video posted on Thursday, Tenev said the company is working on its wallet features and considering new coin listings.
“As much as people are bugging me on that on social media, I’m bugging our crypto team and our software engineers. We’re going to try and get that done as fast as possible. And we’ll see. We might add some new coins along the way,” said Tenev.
Tenev added that the company would hire a “ton” of crypto staff and made statements to criticize Coinbase and other crypto exchanges.

“One thing that we’re probably not doing as great of a job communicating to customers is just how cost effective our offering is,” Tenev said. “If you trade on Coinbase, or some of these other, kind of smaller outfits, you’re paying 1%, 2%, even more.”
The CEO openly addressed the loss of trust that the company has suffered due to delisting the GME stock and other assets during a social media frenzy that had been pumping prices.

In January, members of Reddit’s WallStreetBets community noticed that various hedge funds were overexposed on their short positions for GameStop stock and executed a short squeeze, resulting in billions of dollars worth …
Story continues on Crypto Briefing

Related posts
BitcoinBithumbBusinessmorgan stanleySouth Korea

Morgan Stanley Bidding for South Korean Crypto Exchange Bithumb

Morgan Stanley and NYSE’s parent company Intercontinental Exchange (ICE) were revealed as interested parties in acquiring South Korea’s largest crypto exchange Bithumb.  Morgan Stanley Takes Over Bithumb Negotiations According to a South Korean media report, the negotiation for Bithumb’s ownership…
Cointelegraph.comcryptocurrencycryptocurrency tradingrobinhood

Robinhood targets expanded cryptocurrency trading business

The retail trading platform plans to increase its workforce while adding more cryptocurrency pairs. Robinhood CEO Vlad Tenev has said the company is working towards increasing its cryptocurrency trading service.In a fireside chat posted on the broker’s YouTube account on…

Ethereum Could Reduce Fees With Batch Transactions

A new Ethereum proposal, EIP-3074, could reduce transaction fees by improving support for batch transactions. EIP-3074 Could Reduce Fees Ethereum developer Matt Garnett introduced the proposal on Twitter. Ethereum wallets may be getting a significant upgrade soon. With the proposed…