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Robinhood, the fintech firm known for its trading app, has announced plans to launch its cryptocurrency trading services in the European Union and initiate brokerage operations in the UK following a mixed third-quarter financial performance. Robinhood has announced plans to broaden its horizons. The trading platform, primarily recognized for its role in democratizing stock trading, is poised to take its crypto trading services beyond the U.S. to embrace the European market, with an imminent venture into the UK’s brokerage space. This strategic move was unveiled in Robinhood’s third-quarter earnings report, which also noted the fintech firm’s intention to roll out its crypto trading arm in the European Union after establishing a foothold in the UK. At present, Robinhood’s crypto services are U.S.-centric, offering trades in popular cryptocurrencies such as Bitcoin, Ethereum and Dogecoin. However, it’s worth noting that Robinhood took a conservative turn ...

Robinhood was recently identified as the third largest holder of Bitcoin. Now, a recent Analysis by crypto analytics platform Arkham Intel revealed that the California-based exchange also has a large stockpile of Ethereum. Robinhood is currently the fifth-largest holder of Ethereum. As tabulated below, the company possesses nearly 1.5 million ETH in its cold wallet. At press time, the asset was priced at around $1700, making Robinhood ’s holdings worth $2.54 billion. Source: Arkham Intel Also Read: Bitcoin Derivatives Volume Rises to $1.4 Million Robinhood Rolls Out Ethereum Swaps for Users Just a day back, the company enabled wallet support for a couple of crypto assets. Alongside this, it also enabled Ether swaps. This feature will allow users to trade ETH for over 200 different assets. The wallet can effectively charge users gas fees from any token users hold, not just ETH. The gas fee is the price paid to transact on the Ethereum network. The exchange has alre...

Robinhood has been identified as the third-largest Bitcoin holder, possessing a wallet valued at over $3 billion, trailing only behind Binance and Bitfinex. Recent investigations from several sources have revealed that Robinhood, the popular stock and crypto trading platform, holds a Bitcoin wallet containing more than $3 billion worth of BTC. This revelation establishes the firm as the third-largest Bitcoin custodian, trailing only behind leading exchanges, Binance and Bitfinex. These findings have been verified and authenticated by blockchain analytics firm Arkham Intelligence. BREAKING 3RD LARGEST #BITCOIN WHALE WITH $3 BILLION IN BTC REVEALED TO BE ROBINHOOD pic.twitter.com/TSgKoqLU4O — Ash Crypto (@Ashcryptoreal) August 28, 2023 Decrypting Robinhood’s mystery Bitcoin wallet For the past week, the wallet in question has been a subject of speculation within the cryptocurrency community. Market analysts and crypto enthusiasts previously hypothesized that its ownership ...

Robinhood launched its Web3 wallet beta on September 27, 2022. The American financial giant initially expressed interest in cryptocurrencies in 2022, with a few announcements depicting them in May. The beta wallet was launched with support for Polygon for the first 10,000 iOS users who signed up for the waitlist. On March 1, 2023, Robinhood launched a cryptocurrency wallet for iOS users globally. Also read: Shiba Inu: Shytoshi Kusama Leaves Puzzling Message on Shibarium Telegram Now, according to the latest details, the financial giant has unveiled a new feature called “ Robinhood Connect .” Robinhood Connect to Enable Easy Connectivity to dApps The new feature will allow users to fund their Web3 wallet directly from dApps. The new feature will aid in making DeFi more easily accessible for Robinhood users. Users will also be able to transfer and fund their Web3 wallets using the new feature. The firm said in a statement: “With the introduction of Connect, c...

Parties associated with FTX have been making new filings almost every day. Via the latest one made on Thursday, FTX asked a US bankruptcy judge to stop crypto lender BlockFi from getting its hands on Robinhood shares. FTX lawyers revealed in the court papers that BlockFi and an individual FTX creditor filed for separate court proceedings in New Jersey and Antigua laying claim on the 56 million shares worth $440-$450 million. At press time, three parties are trying to get control of those shares. One, BlockFi—the lender that dodged bankruptcy earlier this year when FTX was solvent. Post FTX’s collapse, however, even BlockFi followed suit. Two, Yonathan Ben Shimon—an FTX creditor designated as a receiver in Antigua. He has the authority to sell the shares under the supervision of a court in Antigua. Three, Sam Bankman-Fried. In the filing, FTX said that SBF looked to claim the shares as “a source of payment for legal expenses.”  ...