1 year ago
Popular trading level Robinhood (HOOD) has seen a steep diminution successful crypto trading measurement successful May, the institution reported connected Monday, adjacent portion measurement for equities and options remained high.
The institution reported that trading measurement for cryptocurrencies dropped to $2.1 cardinal successful May, down 43% from the anterior month. On a yearly basis, crypto trading measurement slowed 68%, it said.
Daily mean trading gross (DART), a metric that tracks the mean commercialized per time that generated commissions oregon fees, was down 22% successful May and 53% year-over-year for crypto trading.
Just past week, Robinhood delisted 3 tokens arsenic portion of its regular review, leaving lone 15 cryptocurrencies disposable for trading connected the platform, the institution said. The delisted tokens, Cardano's ADA, Polygon's MATIC, and Solana's SOL, were named arsenic securities by the U.S. Securities and Exchange Commission (SEC) successful caller lawsuits against Coinbase (COIN) and Binance.
Robinhood Markets’ main compliance lawyer Dan Gallagher told lawmakers that the institution was trying to registry arsenic a special-purpose broker for integer assets successful 2021, but the conversations weren’t successful.
Both Coinbase and Binance were deed with lawsuits earlier this period connected accusations of violating U.S. securities laws. Robinhood has truthful acold lone received an investigative subpoena from the SEC regarding its crypto operations, it revealed successful its 10-K filing successful February.
Edited by Parikshit Mishra.
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