The online retail broker blamed the economy for a decline in user numbers and net revenue that fell 44% year-on-year, although revenue from crypto rose moderately this quarter.
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The online retail broker blamed the economy for a decline in user numbers and net revenue that fell 44% year-on-year, although revenue from crypto rose moderately this quarter.
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“We determined that making these reductions to Robinhood’s staff is the right decision to improve efficiency,” noted Robinhood CEO and co-founder Vlad Tenev.
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Robinhood CEO Vlad Tenev said crypto as an asset class is here to “stay” and revealed that over a million users have signed up to the firm’s crypto wallet waitlist.
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Retail users have flocked to cryptocurrencies in 2021, with Robinhood reporting an increase in new monthly crypto traders of 15 times last year’s average.
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Fortune magazine’s annual 40 Under 40 is out, recently published in print and online, highlighting leaders under forty years of age. This year, the cryptosphere is well represented by Ethereum’s Vitalik Buterin, Coinbase’s Brian Armstrong, and Robinhood’s Vlad Tenev. Wielding billions and billions in valuations, their average age is just a tender 30 years old. […]
The post Ethereum, Coinbase, Robinhood Led by Under 40 Year Olds Killing It appeared first on Bitcoin News.
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