Nearly 2,000 Robinhood Markets accounts were hacked in a recent series of attacks that stole customer funds, an indication that the infiltration was more pervasive than previously believed, Bloomberg reported, citing a person with knowledge of an internal review. Source link
Robinhood
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The popular personal investing platform did not do enough to help targeted customers, victims claim. Source link
Following a retail bonanza this summer, trading app Robinhood says it has raised $660 million in an extended Series G round. Source link
Robinhood is reportedly under investigation by the SEC for not fully disclosing that it was passing customer orders onto market makers. Source link
Robinhood announced on Thursday it hired Norm Ashkenas and Kelly Zigatis as chief compliance officers of its Financial and Securities teams. Source link
The editor of the Morning Navigator newsletter discusses a variety of macro topics and how to trade against a very strange market. Today on the Brief: The DXY hits a 52-week low Consumers seeking alternatives to cash Bank of England rebuilds settlement system to work with CBDCs Our main conversation is with trader and analyst Tony Greer. In this conversation, he and NLW discuss: The Federal Reserve’s role in increasing inequality How the Robinhood crowd differs from the 1999 bubble Why high-frequency traders might be the real villains when it comes to the retail bubble Why gold is surging even though […]
Dharma wants to do for DeFi what Robinhood did for stock trading: make it stupid easy. The Coinbase-backed decentralized finance startup is adding token-exchange protocol Uniswap as its latest in-app offering. In addition to earning “interest” on Ethereum stablecoins, Dharma users will now be able to trade any ERC-20 token for another. “This continues our strategy of building Dharma as the gateway to doing the important things in DeFi,” co-founder Brendan Forster said in an interview. With only tens of thousands of active users by most estimates, the $3.8 billion DeFi market is still niche. For the sector to realize its […]
Stocks, ETFs and crypto investment platform Robinhood told prospective UK customers the launch in the country has been indefinitely postponed. Source link
Far from a fly-by-night, uneducated mania, the new day trader class represents a much more significant force for how public markets are changing. Even before the COVID-19 crisis, Reddit’s WallStreetBets channel was featured on the cover of Bloomberg BusinessWeek as an emerging market force. Since then, between the surge in signups for Robinhood and the wave of followers of Davey Day Trader Global Global, these day traders have taken an even bigger place in the conversation about the stock market. While many finance professionals (and, most certainly, traditional financial media) have treated the movement with skepticism, paternalism or outright derision, Slow […]
The suicide of a 20-year-old Robinhood trader should be a wake-up call for cryptocurrency exchanges that put revenue above customer protection, said a U.S. exec at one of the world’s largest such venues. Many exchanges were designed to encourage users to trade as frequently as possible, often with money they don’t have, and resembled casinos more than responsible trading platforms, said Joel Edgerton, chief operating officer at bitFlyer U.S. “There are too many exchanges that are run like casinos and exploit their customers,” he said. Edgerton spoke to CoinDesk just over a week after a 20-year-old student, Alexander Kearns, killed himself […]
This week, the wildest, most nonsensical, volatile part of the market wasn’t bitcoin, but the “Robinhood Rally” in equities. The stock market has long been disconnected from the underlying economy, but much of what happened this week – particularly the pumping of bankrupt company stocks – suggests that something new is afoot. In this episode, NLW breaks down three long-term trends suggested by the so-called Robinhood Rally, including: Monday | Why War Reporting Is the Right Mental Model for Today’s Media, Feat. Jake Hanrahan Tuesday | What the Stock Market’s ‘Robinhood Rally’ Means for Bitcoin Wednesday | A Vision for Digital Property Rights, Feat. Nic […]
The largest 50-day “Robinhood” rally in stock market history and even stocks of bankrupt companies are up more than 100%. What is going on? Saudi Arabia injects $13 billion in bank liquidity via blockchain. China’s state TV CCTV says Binance is still allowing crypto trading in China. MakerDAO community greenlights real world collateral. Our main topic: The “Robinhood Revolution.” The next time someone tells you crypto markets are too irrational or volatile, point them to stock markets right now. The largest 50-day rally in history Every S&P 500 stock up from 10 weeks ago Multiple bankrupt companies up more than 100% […]