Robinhood’s Shareholders: Are We Getting Cryptocurrency Wallets And Are We Getting Hoodies?


When Robinhood Markets releases quarterly financial results for the first time since going public on Wednesday, its private shareholders want to know when cryptocurrency wallets are coming and whether they will get branded hoodies, according to Say Technologies.

Robinhood, which said it had reserved up to 35 percent of its shares for its users when it debuted on July 29, announced last week it was buying Say, a platform that gathers and enables retail investor questions about crowdsourcing to interact with companies they invest in events like income calls.

On Tuesday afternoon, the main question at Say for Robinhood, with 1.6 thousand votes, was whether the brokerage company will receive a cryptocurrency wallet that will allow users to withdraw and transfer cryptocurrencies to and from other brokers.

Cryptocurrency trading has fueled much of Robinhood’s recent growth, with more than 9.5 million customers trading around $ 88 billion (around Rs 6.53.720 billion) of cryptocurrency on the platform in the first quarter, according to a recent one submitted official registration. Crypto assets grew 23-fold between March 31, 2020 and the end of the first quarter of this year, the filing said.

The second question related to Robinhood’s plans to roll out the app in other countries, while the third asked if the company would allow users to designate beneficiaries or take on features like multiple accounts and joint accounts.

In fourth place: “As a first-time investor, can we get a Robinhood hat and a hooded jacket?”

The company expects revenues for the three months ended June 30th to range between $ 546 million (approximately Rs 4.055 billion) and $ 574 million (approximately Rs 4,260 million) compared to $ 244 million (approximately Rs 1,810 million) Year before to an updated filing.

The gain was mainly due to an increase in funded accounts as well as higher levels of trading in options and cryptocurrencies, which were offset by a decline in stock trading, Robinhood said.

© Thomson Reuters 2021


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